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    Irrigated Farmland Near Hemingford, Nebraska Title is generated by Realmo AI

    TBD Road, Hemingford, NE 69348

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    Claim this Listing
    For Sale
    $5,673,484

    Vacant Land - Hemingford, NE

    Lot size:
    1,256.37 Acres
    Added:
    Jan 18, 2025
    Days on Market:
    493
    Last Refresh:
    May 26 at 10:06 pm

    Property Features for TBD Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    1,256.37 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    22357

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Garrett

    Listing agent Jeff Garrett

    Listing office #1 Properties Ranch and Recreation 6106 Yellowstone Rd, Cheyenne, NE

    Listing date Jan 18, 2025

    MLS# 11527328 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1,055.59± adjudicated irrigated acres under eight center pivots.
    • Located on top of the Ogalala Aquifer, ensuring a reliable and abundant water source for irrigation.
    • Includes eight irrigation wells, tied together for flexible water management.
    • Allocated 65 acre inches per five‑year allocation period within the Upper Niobrara White Irrigation District.
    • Grain storage capacity totaling over 50,000 bushels with drying floors.
    • Mix of Reinke and Zimmatic center pivot irrigation systems for efficient operation.

    Overview

    Triple G Farms is located near Hemingford, Nebraska. This irrigated farm features productive soil and consists of eight center pivot systems across two parcels. Historically, the farm has produced corn, wheat, soybeans, and alfalfa. The location is near markets and feedlots. The farm totals 1,256.37 acres, including 1,055.59 adjudicated irrigated acres (per county assessor) under eight center pivots. Irrigation equipment includes a mix of Reinke 8 tower pivots and Zimmatic 7 tower machines. There are two 25 k/bu bins with drying floors, four 7500 bu bins, and one 9000 bu bin, all in usable condition. There are eight irrigation wells with all of the wells in each block tied together. The farm is within the Upper Niobrara White Irrigation District. The farm is allocated 65 acre inches per five year allocation period with a maximum carry forward of 32.5" from the previous period. The current allocation period runs from January 1, 2025 through December 31, 2029. Triple G Farms sits on top of the Ogalala Aquifer.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Hemingford
    County
    Box Butte
    State
    Nebraska
    Longitude
    -103.011
    Latitude
    42.3766

    Nearby Similar for Sale

    • $652,600

      Nebraska Land with CRP Income

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    • $1,325,000

      1225 Acre Nebraska Land Parcel

      1225 acre land parcel with grazing lease income.
      TBD Cherry Road, Hemingford, NE 69348
      View Details

    FAQs

    What type of property is this?
    Farm - 1256.37 acre irrigated farm with eight pivots near Hemingford, NE.
    Where is this farm located?
    The property is located at TBD Road Hemingford, NE.
    What is the asking price?
    The asking price for this property is $5,673,484.
    What are key features of this property?
    This property features: 1,055.59± adjudicated irrigated acres under eight center pivots.; Located on top of the Ogalala Aquifer, ensuring a reliable and abundant water source for irrigation.; Includes eight irrigation wells, tied together for flexible water management.
    (308) 672-6334
    We can help!
    Listing Contact
    Jeff Garrett
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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