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    Sedona Land with Vortex Views Title is generated by Realmo AI

    3.67 Acres Carol Canyon 6 Parcels Drive, Sedona, AZ 86336

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    Pending
    $1,599,000

    LAND - Sedona, AZ

    Lot size:
    3.67 Acres
    Added:
    Sep 30, 2024
    Days on Market:
    596
    Last Refresh:
    May 18 at 12:06 pm

    Property Features for 3.67 Acres Carol Canyon 6 Parcels Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RS10A
    Fencing
    Perimeter, Barbed Wire
    Standard status
    Pending
    APN
    40828008
    Lot size
    3.67 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    E 82' OF N 304.5' CONT .57AC INNE4 NW4 NW4 SEC 14 17 5E AP16 220 450
    Tax Annual Amount
    1130

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Paul Galloway
    Paul Galloway

    Listing agent Paul Galloway License #BR106151000

    Listing office Galloway Realty, L.L.C. 6001 E Hartford Ave, Scottsdale, AZ

    Listing date Sep 30, 2024

    MLS# 537305

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Incredible 360‑degree panoramic red rock views from a unique vortex location.
    • RS‑10 zoning allows for potential 15‑lot subdivision, ideal for a vacation rental community or other development.
    • Engineering is complete for a gated road and underground utilities, streamlining development.
    • No HOA or CC&Rs, offering flexibility in development and usage.
    • Walk/Bike to restaurants, shopping, hiking & biking trails.
    • Potential access to Sky Ridge clubhouse/anti‑aging spa and amenities, offering property management and room service.

    Overview

    This 3.67-acre property in Sedona, Arizona, offers incredible 360-degree red rock panoramic views from a red rock outcropping featuring natural vegetation and boulders. Zoned RS-10, the property allows for a potential 15-lot subdivision. A commercial appraisal in August 2023 valued the property at $3,125,000 after improvements. The location is ideal for a vacation rental community in the heart of West Sedona. The property consists of six parcels, each over half an acre. Engineering is complete for a gated road and underground utilities. Short-term rental homes can be built on each lot, or one large short-term rental or assisted living home, or a combination of both. There are no HOA or CC&Rs. The location allows walking or biking to restaurants, shopping, and hiking and biking trails. It is suited for an investor interested in a gated private enclave luxury residence club. The lots can be residence club lots within a gated secured subdivision with access to Sky Ridge clubhouse and amenities. The property has access to a new proposed city walking path off of Hwy 89A and back-door access to a Razor rental place. Steel and glass homes can be built cantilevered over rock outcroppings on pillars. The property is part of a bulk sale of three projects totaling 9.5 acres and 15 parcels where residential short-term rentals are allowed, and one 1.7-acre commercial parcel. The seller, a seasoned developer, builder, and broker in Sedona, can assist in the development and building of steel and glass homes and can tie into Sky Ridge estates clubhouse and amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Sedona
    County
    Coconino
    State
    Arizona
    Longitude
    -111.810075
    Latitude
    34.86142

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    FAQs

    What type of property is this?
    Residential land & home lot - 3.67 acres of land with subdivision potential and panoramic views.
    Where is this residential land & home lot located?
    The property is located at 3.67 Acres Carol Canyon 6 Parcels Drive Sedona, AZ.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: Incredible 360‑degree panoramic red rock views from a unique vortex location.; RS‑10 zoning allows for potential 15‑lot subdivision, ideal for a vacation rental community or other development.; Engineering is complete for a gated road and underground utilities, streamlining development.
    (928) 821-3000
    We can help!
    Listing Contact
    Paul Galloway
    Paul Galloway
    Real Estate License ID: BR106151000
    Learn More
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    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.

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    3.67 Acres Carol Canyon (6 Parcels) Drive, Sedona, AZ 86336
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