Sited on the Berry Islands in the Bahamas, this 164-acre, undeveloped parcel—located 25 miles from Nassau—has just hit the market for $41 million, based on an appraisal made in 2007.

Nicknamed “Frazer’s Hogs Cay,” the raw piece of land—owned by Ervin Knowles, a former member of the Bahamian Parliament—comes with architectural plans for a “billionaire’s compound,” which includes an approximately 22,000-square-foot mansion comprised of eight bedrooms and a dozen baths, not to mention a moat crossed by walkways.

In addition, blueprints for two more modest residences and 16 “Tiki-style,” stilt-standing bungalows that cantilever over the water were also drafted. The imagined compound—which would likely cost $20 million to $25 million to fully realize—would span around 20 acres, according to Miami-based architect Enrique Rene Gonzalez.

According to the listing’s agent—Eddy Martinez, of Worldwide Properties—the property may also be utilized for a mixed-use development.