Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cave Creek Land Opportunity Title is generated by Realmo AI

    4 East Morning Star Road, Cave Creek, AZ 85331

    View on Map
    Claim this Listing
    For Sale
    $2,000,000

    Luxury development land with mountain views in Cave Creek, Arizona.

    Type:Land
    Property size:
    635,976 SF
    Lot size:
    14.59 Acres
    Price / SF:
    $3/SF
    Added:
    Oct 26, 2025
    Days on Market:
    224
    Last Refresh:
    May 13 at 8:51 pm

    Property Features for 4 East Morning Star Road

    General Information

    Standard status
    Active
    Size
    635,976 SF
    Lot size
    14.59 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    James Wehner
    James Wehner

    Listing agent James Wehner License #BR557829000

    Listing office West USA Realty

    Listing date Oct 26, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of West USA Realty

    HighLights

    • Expansive lots ranging from 5 to 25 acres, providing ample space and privacy.
    • Secluded, private enclave within the premier Echo Canyon Estates development.
    • Sweeping panoramic views of surrounding mountain ranges and iconic desert sunsets.
    • Located in Cave Creek, Arizona, a highly coveted and desirable location.
    • R‑190 zoning allows for individual lots or larger blocks of land.
    • Future growth plans include an additional 50 acres of land.

    Overview

    Echo Canyon Estates is a luxury development located in Cave Creek, Arizona. This private, secluded community offers panoramic views of the surrounding mountain ranges. The development is zoned R-190 and features individual lots and larger blocks of land, each ranging from approximately 5 to 25 acres of land. Plans are underway to expand by an additional 50 acres in additional blocks of land. The parcels provide unobstructed views of Arizona's peaks and desert sunsets. Echo Canyon Estates combines seclusion and natural beauty.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Cave Creek
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.976239
    Latitude
    33.870024

    Nearby Similar for Sale

    • $575,000

      Cave Creek Mixed-Use Land

      Luxury mixed-use property with approved site plan in Cave Creek.
      37002 N CAVE CREEK Road, Cave Creek, AZ 85331
      View Details
    • $580,000

      Cave Creek Land with Panoramic Views

      Rare 4.99-acre property with privacy and custom home potential.
      41811 N 72ND -- Street, Cave Creek, AZ 85331
      View Details
    • $1,400,000

      Cave Creek Horse Property

      Well-equipped equestrian property designed for horse and rider.
      35412 N 51st Street, Cave Creek, AZ 85331
      View Details
    • $695,000

      Cave Creek Land For Sale

      Unique 65+ acre property with development potential in Cave Creek.
      46000 N Fleming Springs Road, Cave Creek, AZ 85331
      View Details
    • $550,000

      Luxury Mixed-Use Property in Cave Creek

      Exclusive mixed-use property with office, residential, and garage space.
      37202 N Cave Creek Road, Cave Creek, AZ 85331
      View Details
    • $670,000

      Rare 10-Acre Desert Land Parcel

      10 acres in North Cave Creek, bordered by State Land.
      45XXX N Cottonwood Canyon Road, Cave Creek, AZ 85331
      View Details
    • $750,000

      Cave Creek Land For Sale

      Luxury development land with panoramic mountain views in Cave Creek.
      422XX N Sierra Vista Drive, Cave Creek, AZ 85331
      View Details
    • $579,000

      Cave Creek Land with Views

      Residential land with unobstructed views in Cave Creek, Arizona.
      420XX N La Plata Road, Cave Creek, AZ 85331
      View Details
    • $599,900

      Cave Creek Desert Lot

      1.38 acre desert lot with mature cacti and trees.
      31607 N 64TH Street, Cave Creek, AZ 85331
      View Details
    • $2,200,000

      Cave Creek Land Parcel

      22.5 acre parcel near downtown Cave Creek, Arizona.
      7500 E HIGHLAND Road, Cave Creek, AZ 85331
      View Details
    • $575,000

      Cave Creek Land with Dome

      2.31 acres in Cave Creek with development potential.
      6250 E Lowden Road, Cave Creek, AZ 85331
      View Details
    • $7,800,000
      7,000 SF

      Restaurant/Bar on 9+ Acres

      Restaurant/bar with liquor license and remodel plans on 9+ acres.
      6705 E Cave Creek Rd, Cave Creek, AZ
      View Details

    FAQs

    What type of property is this?
    Land - Luxury development land with mountain views in Cave Creek, Arizona.
    Where is this land located?
    The property is located at 4 East Morning Star Road Cave Creek, AZ.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Expansive lots ranging from 5 to 25 acres, providing ample space and privacy.; Secluded, private enclave within the premier Echo Canyon Estates development.; Sweeping panoramic views of surrounding mountain ranges and iconic desert sunsets.
    (480) 323-5462
    We can help!
    Listing Contact
    James Wehner
    James Wehner
    Real Estate License ID: BR557829000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4 East Morning Star Road, Cave Creek, AZ 85331
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!