12523 North F M 1264 , Lubbock, TX 79415(Lubbock County)

Subject Property Highlights: The subject Farm is located four miles North of the Lubbock city limits on FM 1264, aka University Avenue. It is situated 1.5 miles from New Deal, Texas and 6 miles from Shallowater, Texas which are two thriving small farm communities in Lubbock County. FM 1264, aka University Avenue is a major thoroughfare into Lubbock and runs directly in front of the new Lubbock Expo Center to be constructed 3.5 miles from the Subject Property and continues South to South Lubbock. There is an 875 square foot farmhouse with 2 bedrooms and 1 bath, living area, kitchen with wood floors throughout. The interior has been repainted and a new roof has been installed. There is a 2,000 gallon water storage tank with an RO System and a 175 square foot shed.

Irrigation Equipment: Included in the sale are two (2) irrigation pivot systems. It has one Valley Pivot with 1,294 feet and a Zymotic 1,301 feet. There are 3 wells on the property and one additional well located on the dryland portion of the farm that is currently inoperable, but I think can be reworked and rehabilitated and brought back online. The 2 wells on the pivots start at 220 to 273 GPM and level off at about 160 to 170 GPM. A third well near the Playa Lake has about a 45-50 gallon output. There are also two water storage tanks. One holds 2,600 gallons up by the house and the other holds 5,000 gallons by the well at the Playa Lake. There is a trenched drip system of 1,200 linear feet of PVC pipe with all fittings from the house well to a 19 acre vineyard site. The vineyard was never put in, but the drip system is still available. The vineyard was to be situated just SW of the farmhouse.

Minerals: The ownership of the minerals have been 100% by the Marion family since the 1940s and are negotiable in an offering of purchase.

Crop Production: According to the 2022 APH Yield Production of the farm produced 483 bales of cotton on the irrigated portion of the farm.

Opportunity Zone: The Subject Property is located in the Northern Lubbock County Opportunity Zone which was Established in 2017 by Congress to encourage investments in low income and rural acres for commercial development.