Drake Farm

Drake Farm 930± acres

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$1,348,500

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Petersburg, Texas

chassmiddleton.com

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(806) 763.5331

Hale County

Drake Farm We are pleased to have obtained the exclusive listing on approximately 930 acres of grassland and partially irrigated farmland located in the southeast quadrant of Hale County.

Size According to the Hale County Appraisal District, this property contains a total of 930 acres, more or less.

Location • Access As mentioned, Drake Farm is located in the southeast quadrant of Hale County, being approximately 4.5 miles west and 3 miles north of Petersburg, Texas, or approximately 5 miles south of the small community of Happy Union.

Legal Description The West 240 acres, more or less, of Section 9, Block R, Abstract 233; Hale County, Texas; 240 acres, more or less, being the East-half (E/2) of the Northeast-quarter (NE/4) and the Southeast-quarter (SE/4) of Section 9, Block R, Abstract 233, Hale County, Texas; the North-half (N/2) of Section 46, Block R, Abstract 2069, Hale County, Texas, containing 320 acres, more or less; the West 130 acres, more or less, of the Southeast-quarter (SE/4) of Section 46, Block R, Abstract 2225, Hale County, Texas.

Improvements Three (3) irrigation wells are developed on this farm. All three wells are equipped with electric submersible pumps. According to information obtained from the High Plains Underground Water District, the irrigation wells in this area range of 180 to 200 feet deep. According to the tenant farmer, these wells produce a combined total of approximately 500 gallons per minute.

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General Description The Drake Farm has a terrain that varies from nearly level to gently sloping.

Approximately 170 acres are in cultivation and are irrigated down-the-row.

Approximately 488 acres are in improved grasses that were previously enrolled in the CRP and 272 acres, more or less are in native pasture. The entire property is fenced, with the majority of the fencing being in good condition; however, there are some small areas of the fencing that are in poor condition.

Wind Energy The property is currently in the Excel Energy wind project, with three (3) 2 MW turbines.

In total, the wind energy located on the property generates an annual payment of +/-$30,000. Based on information provided by Excel, this payment will increase every 5 years. The turbines have been in production for approximately 3 years.

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Price $1,348,500 • $1,450 per acre

Minerals • Wind Energy No minerals are being offered. 100% of the wind royalty rights will be conveyed.

2021 Property Taxes $2,150±

If you are looking for an investment property or to expand your current farming operation in Hale County, please call Rusty Lawson at (806) 778.2826 for additional information.

(806) 763.5331

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N Plainview

Hale Center

Lubbock

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33.9348, -101.6858

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Rusty Lawson Real Estate Broker • TX Certified Appraiser • TX (806) 778.2826 rusty@csmandson.com

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(806) 763.5331

chassmiddleton.com