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$2,950,000
Est. payment /mo
100 Sqft Lot
UPDATED:
03/12/2024 03:23 AM
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSN23175382
Originating Board California Regional MLS
Lot Size 100 Sqft
Property Description
This gorgeous 100 acre parcel consists of 80+/- acres of Super High Density Planting (HDP) Olive vineyard centrally located on Cottonwood Road between Hwy 99 & Hwy 70 in the middle of Butte County. The planting is on 13-foot by 5-foot spacing resulting in 670 trees per acre with the support of a trellis system. Owners strategically planned and developed this unique showpiece to make it one of a kind. WATER: Tremendous water with a 50HP Pump producing 2,500 gallons/minute provides irrigation through emitters on drip-line. Laser leveled and terraced for draining. PROFITABLE: Has a great Supplier Contract. BONUS: Being within 1 mile of the large PG&E substation creates another big benefit. Currently there is one Solar Option Contract with a National Energy provider that once exercised will pay $3,750/acre per year for 50 acres ($187,500/year) with a 2% annual escalator for a minimum of 22 years with options to extend up to 34 years nine months. Also note, we are currently being courted by multiple other solar companies for the remaining 50 acres with the price/terms yet to be committed. This energy contract would GREATLY increase the net income!!! CAP rate would be 9.1% with the one contract and farming 50+/- acres of olives remaining or 12.71% CAP rate if (2) option contracts
Location
State CA
County Butte
Zoning AGR,AGD,AGO,AGC,AGT,AGV
Exterior
Utilities Available Electricity - On Site
View Panoramic, Valley, Water, Vineyard
Building
Lot Description Agricultural Use
Water Well - Agricultural / Other, Well
Others
Tax ID 041230005000
Special Listing Condition Not Applicable
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Listed by Kory Hamman • Hamman Real Estate
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Sharad Gupta
Broker | License ID: 02213637
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