April 25, 2018

Own an Entire Nevada Desert Town for $8M

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Own an Entire Nevada Desert Town for $8M

An entire town is for sale, just 60 miles south of Las Vegas. Cal Nev Ari, a 640-acre town of about 350 residents, is for sale for $8 million.

The sale includes the town’s casino, restaurant, motel, convenience store, and mobile home park. Also, an extra 520 acres remains undeveloped.

Read more: Strapped for a Present? Try a Whole Town

"It's a very large tract of contiguous land, which is rare in Nevada since the federal government owns 80 percent of land in the state," says Fred Marik, the listing agent.

The town has an abandoned airstrip that was once used in World War II for General George Patton. It also has a residential airpark that has a dirt runway. Some of the homes in the town have airplane hangars, where “people can walk out of their living room and fly down the taxiway and take off,” Marik says.

The city’s founder Nancy Kidwell, 78, owns all the businesses in town. The sale requires the airport's name stays the same -- Kidwell Airport -- and the town must also keep its name: Cal Nev Ari.

Originally, the town was listed for sale in 2010 for $17 million. After the Great Recession, Kidwell removed the town from the market. Kidwell decided to relist in February with a lower asking price of $8 million. 

Marik says so far the interest from buyers contain a variety of business plans to develop the town, including as a marijuana resort, retirement community, or for more residential buildings.

Source: “You Can Buy This Nevada Town for $8 Million,” CNNMoney (March 28, 2016)