Offering Price: The 541 acres with three pivot irrigation systems are exclusively offered in as is/where is condition and surface estate only for $1,190,000 or $2,200 per acre (cash).
Legal Description: Approximately 541 acres out of the Delores Garcia Survey No. 1409, Abstract 330 and various others in Frio County, Texas.
History: The farm is currently owned by Keystone Ranch, LLC, who have owned the property in conjunction with adjoining land since 2006. The property has been used for irrigated crop production, cattle grazing and bird hunting.
Location: Between Pearsall and Moore at the northwest corner of FM 2779 (Berry Ranch Road) and Frio County Road 2028 (Airport Loop). The farm is 2.2 miles north of Pearsall and 47 miles southwest of Downtown San Antonio.
Access: Approximately 1.6 miles of frontage along paved FM 2779. Approximately 0.52 mile of frontage along gravel CR 2028....
Access: Approximately 1.6 miles of frontage along paved FM 2779. Approximately 0.52 mile of frontage along gravel CR 2028. There are three entrances along FM 2779.
Soils: Mostly sandy loam soils suitable for irrigated crops. Primary soils include Duval very fine sandy loam, 1-3% slopes; Miguel very fine sandy loam, 1-3% slopes; Caid sandy clay loam, 1-3% slopes, Amphion sandy clay loam, 1-3% slopes; Zavco sandy clay loam, 1-3% slopes.
Crops & USDA Data: U.S.D.A. Farm Number 1380; the 541 acres is currently combined with adjoining and nearby farmland not offered in the sale. Historic crop base includes wheat, corn, and grain sorghum. Crops grown in 2009 on the property includes oats, wheat and hay grazer.
Irrigation: Irrigation water is provided by a by a 1,481' deep Carrizo permitted irrigation well with 12-3/4" casing located in Circle No. 3 which is the northernmost pivot. The Evergreen Irrigation District permit number is 77-08-508. The irrigation well pump is set at approximately 400 feet which produces the approximate volume of 1,000 gallons per minute. The well power plant is an early 1980's GM Detroit Diesel V12 engine rated at 425 horse power.
Pivots: There are three pivot irrigated circles.
Domestic & Surface Water: There is a domestic electric water well equipped with a submersible pump in Circle No. 1 near FM 2779 (pump replaced in 2009). The well provides water to a large set of cattle pens. There are three small tanks along the edges of the circles which catch runoff water after irrigation or from rainfall.
Wildlife: Available wildlife includes mostly upland game birds. The property is in an excellent dove hunting area just north of Pearsall. The sandy soils are suitable for holding a good quail population with adequate rainfall. Wild hogs occasionally are in the fields.
Fencing: The farm is bound on three sides by 8' tall high fencing constructed of two roll height mesh wire attached to steel T post and pipe supports. Upon sale, with Buyer participation, the Seller will high fence the remaining low fenced borders. There is heavy set of pipe and welded wire cattle pens near FM 2779.
Improvements: The farm has no structural improvements.
Minerals: Surface estate only; there is no current production. The mineral estate is under lease. There are surface use protection provisions in the mineral lease.
Easements/Encumbrances: Electricity provided by Medina Electric Coop. There are no pipelines easements to our knowledge.
Leases: The sale of the farm is subject to an existing 3 year farming lease initiated on September 1, 2008 and terminating August 31, 2011. The lease provides for early termination upon sale.
Taxes: Qualifies for ag use exemption. Pearsall I.S.D. The 2009 Ad Valorem taxes are $1,754 or $3.24 per acre.
Personalty: Personal property included in the sale includes the three pivot irrigation systems and irrigation well equipment (pump, power plant and angle drive) required to operate the irrigation system. The portable diesel powered generators powering each pivot and associated fuel tanks are not included in the offering.
Comments: This farm is close to Pearsall and local agri-structure. Irrigated farmland which produces an annual return through crop rent is a good investment in todays uncertain capital market. Not only would a buyer receive annual crop rent payments, but he may have the opportunity for appreciation over time. A new buyer would also receive a tax benefit from significant depreciable assets. Recreational aspects related to the property include dove hunting in a very good area.
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