Exceptional building tract in Grayling Arm Meadow, a development created in 1983 with good covenants and an active HOA. The tract is close to Hebgen Lake with exceptional mountain views 360 degrees and lake views to the west. The covenants and the Hebgen Lake zoning regulations allow one home and don't allow short term vacation rentals. Power is available at the lot and good wells are not deep. The lot is level with a potential pond location on the back, making it a very intriguing lot to develop. Lots of room to build on the flat from the maintained improved road or create a special building site on the elevated ground next to the dugout potential pond on the back 1/3 of the tract. This property is only 11 miles from West Yellowstone and the main entrance to Yellowstone National Park. The location is on the way to the float section of our Blue Ribbon designated Madison River and minutes from Hebgen Lake public accesses. Take a look at this property. One of the few larger building tracts left in the Hebgen Lake Basin. Whether you are a fly fisherman, a lake fisherman or a geyser gazer, this is a perfect location to base out of for all your outdoor activities.