Property Details
About this Property
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
MLS Listing Information
MLS #
CRSN23175382
MLS Source
California Regional MLS
Days on Site
429
Lots & Land Information
Lot Description
Agricultural Use
Parking, School, and Other Information
Water
Well
Zoning
AGR, AGD, AGO, AGC, AGT, AGV
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
0 Cottonwood Rd is in Unincorporated, CA 95965. This Land is currently priced at $2,950,000. This address can also be written as 0 Cottonwood Rd, Unincorporated, CA 95965.
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This listing information is up-to-date as of March 12, 2024. For the most current information, please contact Kory Hamman
