This is a nice dryland farm that is mostly level with a Playa Lake in the southeast corner. There are two wells on the property that are piped across the road to the south. The owner will lease these two wells back from a perspective Buyer, for a total of $2,000.00 per year, and up to a 25-year lease. The Seller will be responsible for all maintenance and upkeep on the pumps and wells. The wells and underground line will offer depreciable assets to the new owner.
The farm has been leased on a quarter crop share. The current tenant would like to continue leasing the property, or possession is available before the start of the next season. This property offers a nice rate of return with the crop share and a well lease.