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    60 And State Rte Morristown, AZ 85342

    For Sale
    $4,900,000

    18 Acres, High-Traffic Intersection, AZ

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 18-acre commercial land parcel presents a unique investment opportunity at the highly visible southeast corner of US Highway 60 and State Route 74 in Morristown, Arizona (zip code 85342, APN 503-22-021A). Zoned RU-43, this property boasts a strategic location at the intersection of two major truck routes, offering unparalleled exposure and accessibility. The asking price is $4,900,000, translating to a land value of $6.25 per square foot. Its proximity to significant infrastructure is a key advantage. The site is approximately six miles from BNSF land, providing convenient access to rail transportation. Furthermore, its location offers easy access to the Taiwan Semiconductor Manufacturing Company (TSMC) facility, a major economic driver in the region, and is approximately a 30-minute drive from the gateway to Las Vegas. The area is experiencing significant residential growth, with plans for approximately 5,000 new homes in the immediate vicinity, ensuring a robust and expanding customer base for future development. This hard corner location offers exceptional visibility and potential for a wide range of commercial uses, making it an ideal investment for developers seeking a high-impact location in a rapidly growing market. The property's size and strategic location make it an exceptional opportunity for significant return on investment.

    Property Features for 60 And State Rte

    General Information

    Property type
    Land
    Lot Size
    784,080 SF

    HighLights

    • High‑visibility corner lot at the intersection of US 60 and SR 74.
    • Six miles from BNSF Railway land.
    • Strategic location at the intersection of two major trucking routes: US 60 and SR 74.
    • 30‑minute drive to the Tesla Gigafactory (TSMC).
    • Gateway to Las Vegas.
    • Surrounded by a planned community of approximately 5,000 homes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Morristown
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.6334224
    Latitude
    33.8635773

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    FAQs

    What type of property is this?
    Land - 18 Acres, High-Traffic Intersection, AZ
    Where is this land located?
    The property is located at 60 And State Rte Morristown, AZ.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: High-visibility corner lot at the intersection of US 60 and SR 74.; Six miles from BNSF Railway land.; Strategic location at the intersection of two major trucking routes: US 60 and SR 74.
    Request Owner's contact information
    60 And State Rte Morristown, AZ 85342
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    Morristown, AZ 85342
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    Realmo Value Estimation

    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.

    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.

    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
    60 And State Rte Morristown, AZ 85342
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