I have a 100 acre piece of land that I am looking to wholesaling in Utah. I am from California so I am not too familiar on land value over there. I tried looking into the title to find comps but nothing was listed. I also tried googling other parcels currently on the market but the numbers range from $46k-$400k. Can anyone from Utah help price this out for me? Below is the information...
Located in Beaver County, UT
6 miles West of Minersville, UT
35 minutes NW of Cedar City, UT
There is power access across the street
Legal Description: W ½ of the NW ¼, N ½ of the NW ¼ of the SW ¼ S11 T30S R11W
I forgot to mention that it is flat and ready to build.
Hi @Philip Tun
I live in the Salt Lake City area of Utah. I like land but not usually out in the boonies! Still, it's worth something to someone. You're right that prices are all over the place. The main factors influencing value are:
What is the current zoning? Can that be changed?
What is the current use? Can that be changed?
Are there any structures on the land? What condition?
Are there any water rights? Water shares? A well? Or running water on the property?
Are there any other improvements on the property like fencing, grading, roads, etc.?
If it is truly bare ground, with no water or improvements, it's not worth much, except perhaps to a neighboring landowner who might want to expand his property.
I hope that helps. Could you point it out to me on a google map?
I'd put you closer to the $46k mark. Land out there is not going to move quickly, might want to make your close date with the seller a year or two out. Check to see if you have mineral rights, if not then you're going to be getting even less for it. PM me the tax ID number and I can get you more info, might even be able to find an investor for it if you can get it at a discount.
There aren't really any sold comps for something like this unless you go back to 2010. From the sound of things so far you've got a good candidate for the next burning man festival (ha ha) - beyond that, development options are going got be sparse.
Just saw "power access across the street." That might make things a little more interesting.
@Philip Tun , @Douglas Larson is right. There's not much out there to add value to the land--that is, no real reason to visit. A quick look and a guess at the location on Google Maps shows nothing but brown as I'm guessing it's beyond the irrigated fields. Ebay sends me alerts on land that comes up for auction and most of it is for this type of land. You can search Ebay for Beryl, Utah and find similar land. At the top of Utah in Park Valley and that area, there's more of it. The same land seems to be relisted over and over.
Perhaps an agent from Beaver could help you figure out its worth and how best to market it. Any idea, by the way, what the long silver buildings and perfectly square ponds are? Maybe those guys would like more land.
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