Bought with Jasen Hardison • Star Properties Real Estate
$360,000
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40 Acres Lot
SOLD DATE : 09/18/2024
Key Details
Property Type Vacant Land
Sub Type Acreage
Listing Status Sold
Purchase Type For Sale
Subdivision Gulf Coast Irrigation Company
MLS Listing ID 29755610
Sold Date 09/18/24
Lot Size 40.000 Acres
Property Description
40 Acre of Irrigated Farmland on the corner of FM 1762 & Cemetery Rd. just north of Raymondville, TX. This land has 1320' of frontage on FM 1762 (paved highway) and 1320' of frontage on Cemetery Rd (gravel county road). The land has access to city water along both roads and access to electricity along both roads. This land is leased to a wind energy co. and there is a turbine in the southern sector of the land. This windmill currently pays $12,000/year in base rent with the potential for overage (extra production). The lease started in 2018 and runs through 2047 with increases in base rent in 2028 ($13,500/year) and 2038 ($15,000/year). The land is irrigated and it is leased to a local farmer through 8/31/25. It features good soils and the best flood zone rating given by FEMA.
Location
State TX
County Willacy
Area Willacy County
Exterior
Fence None
Utilities Available Cable Available, Electricity Available, Phone Available, Water Available
Topography Bench Leveled
Building
Sewer None
Schools
Elementary Schools Other
Middle Schools Myra Green
High Schools Raymondville
School District Raymondville I.S.D.
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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