0 Cottonwood RD, CA 95965 - MLS#CRSN23175382 - Eric Boyenga

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Eric Boyenga

e@boyenga.com +1(408) 506-3942

$ 2,950,000

Est. payment | -/mo

100 Sqft Lot

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$ 2,950,000

Est. payment | -/mo

Save Virtual Tour

100 Sqft Lot

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

Listed by Kory Hamman • Hamman Real Estate

+1(408) 506-3942

e@boyenga.com

167 S. San Antonio Road, Altos, CA