Property Info

Description

Peoples Company is pleased to offer a high-quality irrigated farm located in Kit Carson County, Colorado just a 13 miles southeast of Burlington along County Road 58. The farm consists of 363.20 surveyed acres with 357.15 FSA cropland acres carrying an NCCPI of 47.5. Primary soil types include Kuma-Keith silt loam. Approximately 303.83 acres are under center pivot with 371 Authorized Irrigated Acres and 927 Acre Feet of water allocated via water right permit 8915-FP with a priority date of June 30, 1958. The irrigation well has been rated at 471 GPM. Two center pivots are included with the farm including an 8 tower 1980 Zimmatic 307 and a 12 tower 1980 Hygromatic HIGRO both being powered by a Minneapolis Moline HD800 engine.

This property is located within the Colorado Power Pathway, a proposed 560- mile, 345 kV transmission circuit that is currently under review by the Colorado Public Utilities Commission. Colorado’s largest utility, Xcel, has a current Energy Resource Plan with a preferred portfolio of 2,300 MW of new wind, 1,600 MW of new large-scale solar, 400 MW of new battery storage, 1,300 MW of new flexible dispatchable generation, and 1,158 MW of community solar. A wind lease is in place with NextEra Energy Resources, LLC and may provide potential for additional future income.

The property is also located within Qualified Opportunity Zone Number: 08063962100. Investments in properties in Opportunity Zones are intended to encourage economic development by providing preferential tax treatment. In addition to deferral of capital gains, expenditures on improvements including irrigation, drainage, storage, some forms of depreciation, and other activities that result in additional property value through time may qualify for a basis step-up at sale and excluded from future capital gains taxation if held to the maturity of the OZ period.

Legal Description

A parcel of property located in Section's 21 & 28, Township 10 South, Range 42 West of the 6th P.M., County of Kit Carson, state of Colorado.

Directions

From Burlington, Colorado: Head south on US-385 S for 8.9 miles. Turn left onto County Road K and continue straight for 7.0 miles. Turn left onto County Road 55 and turn right in 49 ft onto County Road K. Keep straight on County Road K for 3.1 miles. Finally, turn right onto County Road 58 and in one mile the destination is on your right.

From Kanorado, Kansas: Head west on Old US Hwy 24 for 3.9 miles. Turn left onto County Road 57 and continue south for 10.6 miles. Then, turn left onto County Road K and follow for 1.1 miles. Turn right onto County Road 58 and in one mile your destination is on the right.

• Parcel Number: 00821281042001; 00821211042002
• General Area: Southeast of Burlington, CO
• Gross Taxes: $5,206.15
• Possession: At Closing, Subject to Tenant's Rights
• Terms: Cash/Conventional

Additional Info

A principal of the selling entity is a licensed real estate agent in the State of Colorado.

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