Current Use by Public Records
- Land
Property Details for 0 Nec Palazzo Rd & Hereford Rd
- Lot size
- 252.21 lot acres
- Property type
- Land
- Property subtype
- Farms
Description
Exceptional investment opportunity: 252.21 acres of prime agricultural land in Los Banos, CA, located at the Northeast corner of Palazzo Rd & Hereford Rd (APN: 073-080-013, 073-110-018, 073-110-023, 073-120-024, 073-120-025). This property boasts exceptional water rights from the San Luis Canal Company, renowned for its reliable water supply even during severe droughts. The land comprises three farmed fields totaling 252.21 acres; Field 1 (107 acres) and Field 2 (81 acres) are currently planted in second-year alfalfa, while Field 3 (73 acres) is in cotton. Note that a tenant is currently farming 9.2 acres within Field 3, which are not included in this sale. The San Luis Canal Company's pre-1914 appropriative water rights provide a significant advantage. The ground lease expires December 31, 2024. The property is zoned A-2, and the asking price is $6,557,460, translating to $26,000 per acre. This represents a unique opportunity to acquire a highly productive agricultural property with secure water rights in a desirable location. The property is conveniently located in Merced County, CA, zip code 93635. This offering presents a compelling investment prospect for discerning agricultural investors.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Banos
- County
- Merced
- State
- California
- Longitude
- -120.746
- Latitude
- 37.1294
