1,090 acres in McLennan County, Texas

$5,570,000

1,090.00 acres

Texas

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PROPERTY DESCRIPTION

This 1,090-acre Brazos Valley irrigated farm, located approximately 10 miles southeast of Waco, Texas, is one contiguous tract of land with 920 cultivated acres (87.5% irrigated, 12.5% dryland). The farm has a long history of use for irrigated crop production with indications via water rights documents that it was irrigated as far back as 1918. While corn and cotton have historically been the primary crops produced (evidenced by 864.5 acres of USDA-FSA crop bases - 73.6% corn, 20.6% cotton, and balance in wheat base), the land is suitable for production of grain sorghum, wheat, oats and soybeans. Some specialty crops such as melons could likely be produced on the property as well.

Crops on the property are irrigated using water pumped from the Brazos River and Tehuacana Creek via an underground pipe distribution system to seven center pivot irrigation sprinklers. Grain storage facilities, accommodating approximately 340,000 bushels of grain, and a 12,000 SF shop provide additional revenue sources and support for the farm. Other improvements include multiple farm buildings, an office building, and two houses.

The farm is offered with rights adjudicated by the State of Texas to divert 1,060 acre-feet of surface water per annum from the Brazos River and Tehuacana Creek for irrigation purposes. These water rights represent a property right that can be severed from the farm and sold to a third party subject to state law. They are among the oldest rights along the Brazos River (1918 & 1929), and are much higher in priority date than those of most of the Brazos River Systems agricultural and municipal users.

This farm's diverse features, size, high percentage of quality cropland, irrigation water delivery system, grain storage facilities, and other revenue-producing improvements combine to offer a substantial base for producing consistent annual returns. Coupled with the senior adjudicated water rights, the farm offers significant potential for appreciation.

USEFUL DOCUMENTS

DIRECTIONS

From Waco, TX-Texas Loop 340 at Texas State Highway 6: South on TX SH 6 ~3.6 miles; Right on FM 1860 (West Lake Creek Rd) ~0.5 mile; Right on Old Marlin Rd ~0.2 mile; First left on Wesley Robinson Road ~0.2 mile; Follow driveway into farm headquarters.