Cottonwood RoadUnincorporated, CA 95965
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 are two Solar Option Contracts with National Energy providers. One is to use 4-acres of the property and convert it into Large Scale Battery Storage, due to its close proximity to the PG&E Substation. Once exercised, it will pay $15,000/acre per year ($60,000/year) with a 1.5% annual escalator for a minimum of 15 years with options to extend the lease (3) additional times for successive periods of 5 years each. Second company will pay $3,750/acre per year ($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 a 3rd solar company for the remaining 46 acres with the price/terms yet to be committed. These energy contracts would GREATLY increase the net income!!! CAP rate would be 11.77 with two contracts and farming 35+/- acres of olives remaining or 14.23 CAP rate if (3) option contracts are exercised. QUALITY: This vineyard was developed from the ground up to be a high quality & high yielding producer. Winning Gold Medals in the Los Angeles International Olive Oil Competition and Mid-State Fair in Paso Robles. BUILDING SITE: The property was designed as a showplace with a 3-acre pond wrapping around a acre building pad. Build your dream home or your own tasting room with a fantastic view of the Sutter Buttes. Borders Dove Ridge (2,400 acre Conservation Bank to the North) which will never be developed as well as PG&E land to the East which will also ensure that you have no neighbors building on top of you. Owners are only selling for Estate Planning purposes. Rarely do you find Agricultural investment that makes a terrific income!!!
|a month ago
|Listing updated with changes from the MLS
|a month ago
|Price changed to $2,950,000
|5 months ago
|Listing first seen online
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