River view ranch hits market for $175 million with massive water rights

A massive 1,846-acre parcel of land in the northwest corner of Arizona has hit the market with a price tag of $175 million, making it the most expensive property listing currently available in the state. Called River View Ranch, the acreage straddles Interstate 15 between the small towns of Beaver Dam and Littlefield in Mohave County. Brenda Buck, a global real estate advisor with Russ Lyon Sotheby's International Realty, announced the listing alongside co-listing agent Tod Christensen.

What sets the property apart from other large land offerings is its dedicated water supply. The ranch includes 5,300 acre-feet of groundwater per year, which translates to roughly 1.73 billion gallons. Buck said that the water supply is large enough to build an entire town and gives developers a rare independent resource. Since June 2023, Arizona has stopped approving new Phoenix-area subdivisions that rely solely on groundwater, and the Colorado River continues to face ongoing shortage cuts.

The land is currently owned by Great American LLC, a group of investors from across the country who purchased the property approximately two decades ago specifically to secure an abundance of water. Beyond the groundwater rights, the property features existing infrastructure. Power is available through Dixie Power, which ranks among the most affordable utilities in the country, and fiber-optic lines have already been installed across the site. The relatively flat terrain simplifies potential development plans for residential, commercial, or industrial use.

Real estate advisors noted that the region continues to attract high-end buyers seeking favorable tax structures and sunny climates. With water scarcity remaining a pressing concern for developers throughout the Phoenix metro area and the wider Southwest, properties equipped with secure, independent groundwater reserves are drawing heightened attention from major investors.