The most expensive property for sale in Arizona right now is not a mansion in Paradise Valley. It is 1,846 acres of open land in Northwestern Arizona, and it comes with something that has become nearly impossible to find in this state: a dedicated water supply large enough to build an entire town.

River View Ranch, located in Beaver Dam, Arizona, is listed for $175 million by Russ Lyon Sotheby’s International Realty Global Real Estate Advisors Brenda Buck and Tod Christensen. For perspective, the most expensive home ever sold in Arizona, a Paradise Valley estate, closed for $40.2 million in July. The seller is also willing to entertain offers on smaller sections of the land, which start as low as $2.37 per square foot.

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Russ Lyon Sotheby’s International Realty Global Real Estate Advisor Brenda Buck noted that developing the parcel into a new community could be a solid investment for several reasons.

“Arizona has consistently ranked among the top states in the country for inbound relocation. We have seen a lot of demand from high-tax and high-equity markets like California, Washington, Illinois and New York, where buyers wish to use a significant amount of equity from the sale of their primary home to invest in premium Arizona real estate,” she said. “In addition to its location and beauty, the River View Ranch parcel offers a number of inherently positive features that make it highly attractive to luxury retirees who wish to live here, including our incredible sunny climate, favorable tax structure and flat 2.5% state income tax.”

Water is what truly sets this land apart. Since June 2023, Arizona has stopped approving new Phoenix-area subdivisions that rely on groundwater alone, while the Colorado River, which supplies much of the state, continues to face shortage cuts. River View Ranch sidesteps both problems. A total of 5,300-acre-feet per year of groundwater, roughly 1.73 billion gallons, is reserved to the land from the regional aquifer, independent of the Colorado River and Lake Powell system.

Much of the groundwork is also done. Power is available through Dixie Power, which is among the most affordable utilities in the country, and fiber optic lines have been installed. The land is relatively flat, which keeps building straightforward. Residential and commercial uses are both available, along with industrial, heavy industrial, Planned Unit Development and Mixed-Use options, and a conceptual master plan is available to qualified parties.

The location adds to the appeal. River View Ranch spans both sides of Interstate 15, with Beaver Dam on the north side and Littlefield to the south. The land already has one functional exit from the freeway. It sits approximately 6 miles north of Mesquite, Nevada, and 23 miles south of St. George, Utah, two highly desirable communities, and about a 2-hour drive from Las Vegas. Views include the Virgin River below the rim, mountain vistas in three directions and a seemingly endless desert horizon.

Room to grow is the other rarity. Many of Arizona’s high-demand areas are hemmed in by national forest and other public land, which limits how much they can expand. River View Ranch does not face those constraints, and the five-year growth outlook across the luxury sector remains highly favorable.

“The most exciting part of River View Ranch is the opportunity to shape a community from the ground up—to thoughtfully connect where people live, work and gather,” said Tod Christensen, Global Real Estate Advisor with Russ Lyon Sotheby’s International Realty. “For a buyer with the vision and resources to bring it to life, this is an extraordinary opportunity to create something with a lasting place in Arizona’s future.”

For more information about River View Ranch, visit https://riverviewranchaz.com. 

For more information on Russ Lyon Sotheby’s International Realty, or to see their current listings, visit www.russlyon.com, call 480.287.5200 or connect with them on Facebook, Instagram, LinkedIn and YouTube.