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    Basin Irrigated Farm and Ranch Title is generated by Realmo AI

    2084 West Mortensen Lane, Roosevelt, UT 84066

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    For Sale
    $1,800,000

    Irrigated farm ground with livestock improvements, a private homesite, and included Dry Gulch water shares.

    Type:Farm
    Property size:
    6,084,896 SF
    Lot size:
    139.69 Acres
    Price / SF:
    $0.30/SF
    Added:
    Apr 23, 2026
    Days on Market:
    47
    Last Refresh:
    Jun 6 at 3:27 am

    Property Features for 2084 West Mortensen Lane

    General Information

    Standard status
    Active
    Size
    6,084,896 SF
    Lot size
    139.69 Acres
    Property subtype
    Farm

    We can help!

    Listing Contact
    Michael Stengel

    Listing agent Michael Stengel License #8894846

    Listing office Stengel Realty, LLC

    Listing date Apr 23, 2026

    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 Stengel Realty, LLC

    HighLights

    • 139.69‑acre Basin property with approximately 58 irrigated acres plus additional pasture and grazing ground
    • Includes 120 shares of Dry Gulch Irrigation Company Class C water shares with irrigation utility
    • Livestock and ag improvements include retention ponds and corrals on the property
    • Singlewide home with utilities connected included and sold as‑is (value in the land)
    • Farm ground is currently leased; buyer must honor the lease until it expires
    • Includes Parcel 00‑0028‑1505 and Parcel 00‑0007‑2227

    Overview

    This Basin property combines productive farm ground, pasture, and grazing capability with a Dry Gulch water package designed to support serious agricultural use. The offering includes retention ponds, corrals, and a singlewide home with utilities connected, sold as-is, with value focused primarily on the land. Water shares are included with the sale, totaling 120 shares of Dry Gulch Irrigation Company Class C water shares.

    The property is presented as a private rural setting with mountain views and space to operate. The listing also notes that the included farm ground is currently being leased, and a buyer will need to honor the lease through its expiration. Two parcels are included in the sale: Parcel 00-0028-1505 and Parcel 00-0007-2227.

    For agricultural buyers or operators, the combination of irrigated acreage, livestock-related improvements such as corrals, and included irrigation shares supports continuity of farm production. The connected utilities and included home may also provide immediate housing for an operator or serve as a future homesite. Interested parties should confirm all details, including lease terms and all attributes of the water shares, as part of their own due diligence.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Roosevelt
    County
    Duchesne
    State
    Utah
    Longitude
    -110.379
    Latitude
    40.5914

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    FAQs

    What type of property is this?
    Farm - Irrigated farm ground with livestock improvements, a private homesite, and included Dry Gulch water shares.
    Where is this farm located?
    The property is located at 2084 West Mortensen Lane Roosevelt, UT.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: 139.69‑acre Basin property with approximately 58 irrigated acres plus additional pasture and grazing ground; Includes 120 shares of Dry Gulch Irrigation Company Class C water shares with irrigation utility; Livestock and ag improvements include retention ponds and corrals on the property
    (435) 724-4663
    We can help!
    Listing Contact
    Michael Stengel
    Real Estate License ID: 8894846
    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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