The areas this property is located is not displaying in the location list?

If an area is not displaying in the locations drop down it is more than likely because it has not been added to your configuration.  

In order to add/ delete or amend any of your areas, you will need a super user to access Tools> Configuration> Business Configuration> Areas. This screen will give you the option to add new areas or delete/ amend existing ones.

For more information on areas please see the Set up your Areas chapter.