Palmer Farm

Fieldton, Texas | $338,000

Property info

Area: Fieldton, Texas
Status: Sold
Price: $338,000
Type: Farm
Lot Size: 169 Acres

CONTACT INFO

Offered by: Rusty Lawson
Email: rusty@csmandson.com
Office: (806) 763-5331
Direct: (806) 778-2826

Description

Location/Access:
The Palmer Farm is located in the north-central portion of Lamb County, being approximately 10.5 miles north of Littlefield, Texas. Access is excellent, being by US Hwy 385 on the east, graded CR 182 on the north and graded CR 195 on the west.

General Description:
The terrain varies from nearly level to gently sloping. Basically, 75% of this farm has a level terrain with the remaining 25% sloping to Blackwater Draw which runs across the southern end of the property. The primary soil found on this farm is Amarillo fine sandy loam.

Approximately 128 acres are in cultivation, with 115 acres being in drip irrigation and +/-13 acres being dry cropland. The remainder of the property is in grass, with 39 acres being in CRP and +/-2 acres being native grass. The CRP is receiving an annual payment of $1,054, with the last payment being in 2023.

Improvements:
Improvements include 115 acres of drip irrigation, two (2) irrigation wells and a network of underground line. The drip irrigation is located on the northwest side of the farm. This system is on 40-inch centers and is approximately 5 years old. The irrigation wells are equipped with one 3-inch electric submersible pump and one 4-inch electric submersible pump. The wells have not been test pumped; however, based on the information provided to the broker, the irrigation wells pump a combined total of approximately 180 gallons per minute.

Legal Description:
Labor 12, League 695, Abstract 1900, SCL, Lamb County, Texas.

Remarks:
The Palmer Farm is a quality property that is in a good state of cultivation, with the CRP being in an excellent stand of mixed grasses. The asking price is $2,000/ac., surface only (no minerals). The 2017 property taxes were approximately $300, or $1.78/ac. The property is leased for the 2018 crop year on a 75/25 crop share lease. If you are looking for a productive partially irrigated farm in Lamb County, this offering should fit your needs. For additional information, please contact Rusty Lawson.

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