Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Elgin Land with Mountain Views Title is generated by Realmo AI

    Milky way lane, Elgin, AZ 85611

    View on Map
    Claim this Listing
    For Sale
    $259,000

    LAND - Elgin, AZ

    Lot size:
    18.42 Acres
    Added:
    Sep 20, 2025
    Days on Market:
    244
    Last Refresh:
    May 21 at 10:06 am

    Property Features for Milky way lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SCC - GR
    Fencing
    Barbed Wire
    Standard status
    Active
    APN
    109-25-001H
    Lot size
    18.42 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    A Portion Of Land In The Nw4 Of Sec 27 T20s R17e
    Tax Annual Amount
    2264

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Charles Larry DeMun
    Charles Larry DeMun

    Listing agent Charles Larry DeMun

    Listing office Sonoita Realty P.O. Box 474, Sonoita, AZ

    Listing date Sep 20, 2025

    MLS# 22524411 Listing URL

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

    HighLights

    • Great mountain views and several higher ground homesites for better views.
    • Fenced and cross‑fenced lot suitable for horses or other stock.
    • Private well with power to the lot corner.
    • Direct access to BLM land for riding.
    • Located in the heart of wine country.
    • Potential for primary drive access off Lower Elgin Rd via bordering condemned RR right of way.

    Overview

    This 18.42-acre grassy, rolling lot offers mountain views. It is fenced and cross-fenced, suitable for horses or other stock. The property borders condemned RR right of way. The lot has a private well and power to the corner. Several higher ground homesites offer better views. The property is located in the heart of wine country, with ride-out access to BLM land by crossing lower Elgin Rd. The RR area has been fenced and used for grazing, allowing for possibly bringing primary drive in off lower Elgin Rd.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Map

    City
    Elgin
    County
    Santa Cruz
    State
    Arizona
    Longitude
    -110.553
    Latitude
    31.6748

    Nearby Similar for Sale

    • $2,500,000
      11,196 SF

      Historic Ranch with Equestrian Facilities

      Classic Arizona ranch with updated units and equestrian facilities.
      277 Canelo Road, Elgin, AZ 85611
      View Details
    • $250,000

      Elgin Land with Mountain Views

      10.5-acre parcel ready for custom home or ranch.
      Lower Elgin Road 1, Elgin, AZ 85611
      View Details
    • $350,000

      Expansive Land Parcel in Elgin

      38.38-acre parcel bordering public lands with development potential.
      Lone Mesquite Court lot: 6, Elgin, AZ 85611
      View Details
    • $366,000

      Elgin, AZ High-Desert Land

      40.17 acres in Elgin, AZ with mountain views.
      Mountain View Road lot: 8, Elgin, AZ 85611
      View Details
    • $249,000

      Elgin, AZ Vacant Land

      22 acre grassland parcel with mountain views in Southern Arizona.
      22AC FRUITLAND LANE, Elgin, AZ 85611
      View Details
    • $75,000

      Elgin, AZ Land Parcel

      Residential land near wineries, fenced and ready to build.
      Horseshoe Court, Elgin, AZ 85611
      View Details
    • $159,000

      Usable Land with Mountain Views

      10 acres in Pima County with well share and power.
      Rain Valley Rd, Elgin, AZ 85611
      View Details
    • $249,000

      Elgin, AZ Winery Loop Land

      22-acre property in Southern Arizona's Wine Country.
      22 AC LOWER ELGIN ROAD, Elgin, AZ 85611
      View Details
    • $278,000

      Elgin, AZ Usable Land

      Flat 18.82 acre lot with well in Elgin, AZ.
      Lower Elgin Road, Elgin, AZ 85611
      View Details
    • $135,000

      Land with Mountain Views

      Land with views, convenient location, and agricultural potential.
      Alexander Lane lot: A, Elgin, AZ 85611
      View Details
    • $279,000

      Elgin, AZ Vacant Land

      20 acres in wine country with mountain views.
      20 AC Martha's Lane, Elgin, AZ 85611
      View Details
    • $199,900

      Usable Land with Well, Views

      13.22 acres in San Ignacio Ranch with well.
      59 CAMINO DEL CORRAL, Elgin, AZ 85611
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 18.42 acre lot in wine country with private well.
    Where is this horse & equestrian property located?
    The property is located at Milky way lane Elgin, AZ.
    What is the asking price?
    The asking price for this property is $259,000.
    What are key features of this property?
    This property features: Great mountain views and several higher ground homesites for better views.; Fenced and cross‑fenced lot suitable for horses or other stock.; Private well with power to the lot corner.
    (520) 732-9179
    We can help!
    Listing Contact
    Charles Larry DeMun
    Charles Larry DeMun
    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
    Milky way lane, Elgin, AZ 85611
    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!