Immobility, Indestructibility, and Uniqueness.
What traits does land have? It’s fairly indestructible (mudslides excluded), immobile (you can’t move it), and it’s non-homogeneous (each property is unique because it’s in a different spot). When you think of physical characteristics, you probably think of what distinguishes the structures on the land, not the land itself but if the structure is demolished then the physical characteristics of the land remain the same. It’s still there, it can’t be moved and there’s not another piece of land exactly like it.