A 27-acre undeveloped parcel of land in the affluent town of Paradise Valley is back on the market for $55 million.
Listed by Joan Levinson of Realty ONE Group, the vacant property sits near the Paradise Valley Country Club and offers views of northern Scottsdale, Mummy Mountain and the Phoenix Mountains Preserve. It is the largest parcel of undeveloped land in Paradise Valley and is also recognized for having the most non-hillside acreage available in the area.
Former Dial Corp. CEO John Teets and his wife, Nancy Teets, purchased the 27-acre parcel of land 30 years ago for $6 million. The couple intentionally kept the land vacant to preserve unobstructed views of the desert landscape around their home as new homes were continually being built in the growing Paradise Valley area.
The property is located at 0 N. 54th Street in one of the wealthiest zip codes of Paradise Valley and is zoned to allow roughly 21 homes per acre. According to the listing agent, the owners hope to see a special estate built on the property that will make the Paradise Valley neighborhood proud.
The parcel recently fell out of contract and is once again available on the market, providing prospective buyers the rare opportunity to purchase undeveloped land in the highly coveted Paradise Valley area. The property is an ideal location to build a dream home from the ground up and enjoy the privacy, scenery and luxury amenities that Paradise Valley offers.
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