Minions can easily be matched based on IP address, or by subnet (using CIDR notation).
salt -S 192.168.40.20 test.ping salt -S 10.0.0.0/24 test.ping
Ipcidr matching can also be used in compound matches
salt -C 'S@10.0.0.0/24 and G@os:Debian' test.ping
It is also possible to use in both pillar and state-matching
'172.16.0.0/12': - match: ipcidr - internal
Only IPv4 matching is supported at this time.