480 +/- Acre Farmland Hale County, TX
PRICE REDUCED
This farm is 480 +/- acres of contiguous farmland in the Cotton Center area. The farm grew three full circles of corn in 2015. The soil is very sandy making this an ideal alfalfa, potato, or peanut farm.
The 372 +/- irrigated acres are watered by three 2003 Zimmatic sprinklers. The systems are set up with Field Basic Panels, 24 rubber, LDN on 60 centers, and 1,000 gallons of fertilizer storage at each pivot point.
According to the seller, the ten irrigation wells (8 subs, and 2 electric VHS) supply 1,575 gallons per minute to the sprinklers. The three sprinklers have their own set of wells that supplies water to each. The water reported by the seller is slightly higher than the charted flows at each sprinkler due to well repairs this past summer. Power is supplied by Lamb County Electric.
The farm is leased for $200 / wet acre for the 2016 crop year. Under the terms of th...
The farm is leased for $200 / wet acre for the 2016 crop year. Under the terms of the lease, the landowner is responsible for all repairs below ground, and the tenant is responsible for all repairs above ground. The farm provides a gross revenue of $74,400.00 per year under this lease agreement. That revenue generates a gross ROI of 6.7%, making this farm appealing to the investor looking for cash flow, return, and depreciation.
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