LOCATION: This irrigated farm is located about 1/2 mile east of I-37, with good frontage on FM 359 near the developing farming town of Mathis. This is only 35 miles from booming Corpus Christi, and 103 miles south of San Antonio. The area is composed of dryland and irrigated farmland, plus scattered residential and commercial development. The site is less than one mile from city utilities, with a cotton gin directly across the street. The property is bounded on three sides by pavement, and the location and shape is conducive for future commercial or industrial use.
GENERAL: This is an operating, productive blackland farm planted annually in high value crops such as corn and cotton. The centerpiece is an approx. 500 foot deep fresh water irrigation well equipped with a 7 stage SM 13 H Cummins Diesel turbine pump capable of producing 1,200 ?? 1,500 gpm of water.
A 13 tower cente...
A 13 tower center pivot system allows for uniform water distribution over 360 irrigated acres, and it is powered by thirteen hp electric motors (one small motor per set of wheels). The balance of the site is farmed dryland. A solid local farmer is current tenant, paying $42,000/year for a cash lease, plus providing maintenance for the irrigation equipment. This farmer has been on site for three years, and successfully manages the productivity aspect toward future sustainability, while avoiding short term exploitation.
The site is nearly level, with ample low angle slopes for drainage. Historic corn yields have been in the 120 bu/ac for irrigated, 60 bu/ac for dryland, while cotton yields have been 2.5 bales/ac for irrigated, 1.25 bales/ac for dryland. This farm is considered above average for the area, as is the current farming tenant.
It is only a matter of time before commercial and industrial development finds its way up from Corpus Christi to Mathis along I-37, and the early signs are encouraging. One merely needs to drive the route to get the picture. This well-positioned site could some day be highly prized for its location near a major interstate highway, clean shape and level topo. In the meantime, it produces a solid cash return, and requires little to no maintenance.
FINANCIAL: $1,650/acre, cash to Seller, who will convey 50% of owned minerals, royalities and leasing rights (believe to be 50% M&R, 100% LR,thus 25% MR, 50%LR to convey). Seller will provide a current survey and basic title.
Insurance. Information contained herein is deemed reliable, but is not warranted by Seller or Broker, express or implied, and is subject to change, errors and/or omissions, prior sale and withdrawal from market. Buyers are urged to verify representations on their own, and draw their own conclusions about the value and usefulness of the property for a given purpose. THIS PROPERTY CAN BE VIEWED WITHOUT LISTING BROKER PRESENT. DO NOT DISTURB CROPS OR FARMING EQUIPMENT. NOTIFY LISTING BROKER PRIOR TO ENTERING PROPERTY.
Buyer's brokers must be identified on first contact, and must accompany buying prospect on first showing to be allowed full fee participation. If this condition is not met, fee participation will be at sole discretion of LANDTX, David E. Culver, broker.
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