Jackson County Properties Now For Sale

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Hilary Cain
5 years ago
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1 Jackson County Properties Now For Sale The land being offered totals 4, acres and is in four distinct properties. The owners own no mineral rights so this is surface only. Dennis DeLaughter represents the owners and his contact information is found on page 15 of this presentation. All locations are near Edna, Texas, with three of them located Southwest of Edna within three miles of each other and the fourth located North of Edna. The three tracts to the Southwest are identified as: C acres (See Page 2 with Additonal Pictures Starting on Page 16) El Toro 1, acres (See Page 5 with Additonal Pictures Starting on Page 19) LaSalle acres (See Page 9) The Tract located to the North is identified as: Cordele 2, acres (See Page 11 with Additional Pictures Starting on Page 26) This presentation will cover the details for each property, including location, assets, USDA data, and tax information from the Jackson County Appraisal District. Overview: All land is currently owned by 2 property owners. Inez Farms OHG owns 99% and Cordele JV owns 1%. The propsed sale is to convery 100% of the land ownership. At this time, all properties are combined under one farm number with the USDA Farm Services Agency (FSA.) This allows the freedom to allocate base acres to any of the locations. The entire farm including all tracts are signed up under the PLC farm program option. Here is a composite overview of the land in total. Each property will then be discussed on it own basis. Combined Totals: Land Tax Roll 4,823.6 Acres 2017 Taxes $47, Farmland 4,732.7 Acres Crop Land 3,899.2 Acres Farm Base and Historic Yield: Rice Acres 73.9 Cwt. Corn Acres 70.2 Bu. Milo Acres 60.0 Bu. Wheat Acres 32.6 Bu. Total Base Acres 3,365 Acres 1

2 Property C Acres Asking $3,000 per Acre This tract of land has been farmed in rice in the past and has rice base associated with it; however, there has not been any rice grown here for many years due to the loss of the irrigation well. The old well casing is still visible and drilling a new well should not be a problem. C-234 Totals: Land Tax Roll: Acres 2017 Taxes $6, Farmland: Crop Land: Acres Acres 2

3 Farm Base and Historic Yield: Rice Acres 46.0 Cwt. Corn Acres 79.0 Bu. Milo 85.9 Acres 60.0 Bu. Wheat 37.9 Acres 26.0 Bu. Total Base Acres Acres Asset Lists New Office (Can be leased as Single Bedroom Housing.) $140,000 in 2017 Shop / Barn Concrete floor throughout, new doors installed around 2010 A Mobile Home for Farm Hands Living Quarters acres have been precision leveled 2018 Farm Plan: Acres - Corn Production 3

4 As can be seen below, there is a brand-new office at the headquarters along with a large shop building and living quarters for farm hands. Additional Pictures of assets on the C-234 tract can be seen starting on page 16. 4

5 Property El Toro 1,699.5 Acres Asking $3,200 per Acre El Toro Totals: Land - Tax Roll: 1,699.5 Ac Taxes: $18, Farmland: Crop Land: 1, Ac. 1, Ac. Farm Base and Historic Yield: Rice Acres 80.3 Cwt. Corn Acres 67.0 Bu. Milo Acres 60.0 Bu. Wheat Acres 34.0 Bu. Total Base Acres Acres Asset Lists Grain tanks new in 2009 Ranch House 3,500 Sq. Ft. brick; not leased in 2018, leased at $900/Month in 2017 Hay barn large hay and horse barn, dirt floor Three rice irrigation wells. One is electric and two are diesel engine driven 1,029.2 acres have been precision leveled Approximately 4 miles of underground PVC irrigation pipe no open irrigation canals 2 sets of cattle working pens with storage and working barns at each 5

6 2018 Farm Plan: 400 Acres - Seed Rice 612 Acres - Corn Production The following pages provides a pictorial overview of the El Toro tract. As can be seen below by looking at the green dots and the levees themselves, almost all the cropland fields on this farm have been leveled to grade. 6

7 The large barn seen above has had a new roof and panels were replaced in the last 6 years. The Ranch House has just had a new roof installed and has been completely repainted on the outside. In addition, the electrical switches on the inside of the house have been completely upgraded and new carpet has been installed in the bed-rooms. The recent Hurricane came after the roof was replaced and there was no damage other than some windows being broken by blown debris. 7

8 These tanks hold 75,000 bushels each and have been used for corn and wheat. They also have an interior monitoring system powered by Intelliair. The water well seen here has an electric motor while the other two locations are currently powered by diesel engines, but a conversion to electric is not an issue. Additional pictures of the assets on the El Toro tract can be seen starting on page 19. 8

9 Property La Salle Acres Asking $3,000 per Acre La Salle Totals: Land - Tax Roll: Acres 2017 Taxes: $2, Farmland: Acres Crop Land: Acres Farm Base and Historic Yield: Asset Lists Rice Acres 46.0 Cwt. Corn Acres 79.0 Bu. Milo 80.9 Acres 60.0 Bu. Wheat 35.7 Acres 26.0 Bu. Total Base Acres Ac One rice irrigation well bowls and column pipe in place but currently no drive system attached acres have been precision leveled 9

10 2018 Farm Plan: Acres Corn There are no buildings on LaSalle but there is one large irrigation water well. There is no rice being grown on this tract in 2018 so there is no power unit on the well at this time. As can be seen, there are three benched to grade fields so that just over half of the tract has been leveled. 10

11 Property Cordele 2, Acres Asking $2,800 per Acre The Cordele tract is located about 12 miles (driving distance) north of Edna and is named for the small community of Cordele which is located just to the east on FM 530. As can be seen below, this is actually two different tracts in regard to the USDA programs; however, we are selling it as one piece of property. The information below covers both tracts. 11

12 Cordele Totals: Land - Tax Roll: 2, Acres 2017 Taxes: $19, Farmland: 2, Acres Crop Land: 1, Acres Farm Base and Historic Yield: Rice Ac 80.3 Cwt. Corn Ac 79.0 Bu. Milo Ac 60.0 Bu. Wheat Ac 26.0 Bu. Total Base Acres 1,643.3 Ac Asset Lists Three rice irrigation wells one electric and two diesel powered acres have been precision leveled 63 Acre lake/ irrigation reservoir Re-lift location from ditch into reservoir Approximately 1 mile of underground PVC across northern Property Line Shop barn all concrete floor Quonset Storage Barn 2018 Farm Plan: Ac Conventional Rice There are three water wells at the Cordele Location with one storage barn and one shop location. 12

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14 A re-lift is used to fill the lake from a ditch running through the property. If needed, the irrigation wells can be set to pump into the lake as well. This is a Quonset barn that has been used for storing equipment. Additional pictures of the assets on the Cordele tract can be seen starting on page

15 Contact Information: Any questions or to schedule a visit to see any of the properties, should be directed to Dennis DeLaughter at address is dennis@pfmco.com. Time Table: Due to the expectations of multiple offers, it is suggested that any interest by a buyer should be communicated timely. Closing Information: Mid-Coast Title Company in El Campo Texas will handle all closings. Heath Radley with Duckett Bouligny & Collins is Attorney for the Sellers. Please note, that due to FSA considerations, closings cannot be made prior to October 1 st of this year; however, sellers are willing to enter a sales contract immediately once an agreement is reached on sale. Directions to Properties: Please note that permission to drive on any of these properties is required as we are trying to keep the traveling of roads on the farm at a minimum. Also, be aware that these directions get you to where the property starts. You will need to rely on the property pictures in this presentation to see the entire property from that point. To get to: C-234 Turn South on FM 234 at El Toro. Entrance to property is 1.8 miles on the right. El Toro Turn South on FM 234 at El Toro and go 1.2 miles and turn right on County Road (CR) 316. Go approximately 1.5 miles where the road turns 90 degrees to the left. Go to the first road on right and then right which is still CR 316. Drive ½ mile and grain tanks will be on your left. LaSalle (From El Toro Farm) If on the El Toro Farm, exit the property on the furthest southern road and go straight for 2 miles. Farm is on the right after the first stop sign intersection. LaSalle (From the town of El Toro) Go south on FM 234, 5 miles to County Road (CR) 321. Turn right and follow road straight to where it T s. Turn left (still CR 321) and go to first road on right and turn right which remains CR 321. Go three-quarter of a mile to the next intersection. Property s NW corner is that intersection. LaSalle will be on your left after that intersection as you head west. Cordele Take FM 530 (which is 2 ½ miles east of Edna on US 59) north for approximately 7½ miles to an S curve right at Cordele (there is no sign for the town.) Turn left onto County Road (CR) 281. Go straight until road T s and turn right onto CR 282. (Large Compression Plant will be on your left.) Go 9/10 s of a mile and turn left onto CR 283. Go 4/10 s of a mile and property starts on the left. 15

16 C-234 Additional Pictures of Assets (All taken 4/26/2018) 16

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18 Office Interior 18

19 El Toro Additional Pictures of Assets (All taken 4/26/2018) 19