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    Producing Alfalfa Farm with Water Rights Title is generated by Realmo AI

    1200 North Blackknoll Road East, Richfield, UT 84701

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    For Sale
    $1,250,000

    Producing alfalfa acreage with water rights, pivot irrigation, and highway frontage for future land-use optionality.

    Type:Farm
    Property size:
    2,325,232 SF
    Lot size:
    53.38 Acres
    Price / SF:
    $0.54/SF
    Added:
    Mar 11, 2025
    Days on Market:
    453
    Last Refresh:
    Jun 6 at 2:14 am

    Property Features for 1200 North Blackknoll Road East

    General Information

    Standard status
    Active
    Size
    2,325,232 SF
    Lot size
    53.38 Acres
    Property subtype
    Farm

    We can help!

    Listing Contact
    Doyle M Johnson
    Doyle M Johnson

    Listing agent Doyle M Johnson License #5480193

    Listing office Koen Johnson Realty

    Listing date Mar 11, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Koen Johnson Realty

    HighLights

    • Producing alfalfa farm with water rights totaling 53.38 acres
    • Approximately 48 acres planted in alfalfa
    • Linear pivot irrigation with 6 towers
    • Includes a 50‑horsepower electric pump and 3‑phase power
    • Highway frontage on Hwy 119

    Overview

    This producing alfalfa farm includes water rights and approximately 48 acres planted in prime alfalfa, with 53.38 total acres. Irrigation is supported by a linear pivot system with 6 towers, plus a 50 horse power electric pump served by 3-phase power. The property is set up for ongoing agricultural production while maintaining the underlying land value of a water-rights tract.

    The farm has highway frontage on Hwy 119. The public remarks note the site is in the path of growth and include the possibility of future residential development, making the parcel relevant to both agricultural buyers and those evaluating long-term land-use options.

    For an operator or investor seeking producing hay ground, the combination of planted acreage, water rights, and an established irrigation configuration provides a practical foundation for continued cultivation. The highway frontage and stated growth context can also support buyers who want a workable farm asset today with flexibility to evaluate future non-agricultural opportunities, subject to applicable approvals.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Richfield
    County
    Sevier
    State
    Utah
    Longitude
    -111.989863
    Latitude
    38.792645

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    FAQs

    What type of property is this?
    Farm - Producing alfalfa acreage with water rights, pivot irrigation, and highway frontage for future land-use optionality.
    Where is this farm located?
    The property is located at 1200 North Blackknoll Road East Richfield, UT.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Producing alfalfa farm with water rights totaling 53.38 acres; Approximately 48 acres planted in alfalfa; Linear pivot irrigation with 6 towers
    (801) 915-7355
    We can help!
    Listing Contact
    Doyle M Johnson
    Doyle M Johnson
    Real Estate License ID: 5480193
    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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    1200 North Blackknoll Road East, Richfield, UT 84701
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