Peter Griffith
Farm & Ranch Specialist | Realtor
Ask Peter Griffith
We are pleased to have obtained the exclusive listing of this 565+/- acre farm located just outside Knox City in Knox County, Texas. This farm features a great location, a favorable long term lease, and the ability to be operated as a farm and or a cattle operation in the future.
LOCATION:
Located less than 3.5 miles West of Knox City, the farm features easy access, with black top frontage running along the entire southern boundary of the farm.
LAND:
The farm consists of a number of various soil types. Grandfield-Devol complex is the most common, making up roughly 40% (215 acres) of the farm. Around 30% of the farm is made up of Miles fine sandy loam, and Altus fine sandy loam covers just over 25% of the property. The majority of the farm is generally very flat, with slopes ranging mostly between 0-3%. A number of other soils can be found on the farm. For a full soils report, please contact the listing agent.
WATER:
In total, the farm has 13 wells (12 irrigation, one domestic). Per the tenant, only three of the irrigation wells are currently in use. The wells being used are strong, pumping roughly 350, 215, and 213 GPM. The depths of the wells are roughly 150 ft. The sellers believe that if additional wells were dug, they would yield similar results as the three current wells and help the overall operation. The domestic well has been used to supply a stock tank on the farm and pumps roughly 85-90 GPM.
IMPROVEMENTS:
The farm features two 2021 Zimmatic quarter mile center pivots, each covering approximately 120 acres of the farm. Each are equipped with a remote field net system.
In addition to the wells and pivots, the entirety of the farm is fenced with barbed wire (in varying condition), and has multiple steel gates as entry points. The property also has two grain silos, which the tenant believes will store roughly 20,000 lbs each.
LEASE:
The farm is currently leased out with a competitive compensation structure for the owners. This lease will remain intact through the sale and its current term expires in April of 2031. A copy of the full lease can be provided upon request.
MINERALS:
The owners have no knowledge of minerals owned on the property, but will convey any currently owned to the new buyer.
PRICE:
This farm is being offered for $1,666,750, or $2,950/acre.
Notes: Buyer is encouraged to conduct their own due diligence prior to purchasing. All info listed above is according to the best knowledge of the seller and other relevant sources. The TX Real Estate Group will not be held liable for any information found to be inaccurate during or after closing the buying process. All buyers agents must be identified on first contact and accompany buyers on all showings in order to be given full participation fee. If these requirements are not met, participation fee will be at the sole discretion of the TX Real Estate Group.
Showing Instructions:
Contact Listing Agent: Peter Griffith - 806-781-2167
