56.15 ACRES BUCHANAN RANCH
THERMAL, CA
FEATURES
- Previously planted to lemons
- Open ground with fallowing income
- Reservoir and filter station
- Infrastructure for drip irrigation in place
- In Opportunity Zone, providing potential tax incentives
- In Ag Preserve, keeps property taxes low
- Abundant and affordable Coachella Valley Water District (CVWD) irrigation water, one of the lowest water rates in California
ASKING PRICE: $1,319,525 ($23,500/AC)
VICINITY MAP
Amenities
- Location: The property is located at 89800 Avenue 58, on the north side of Avenue 58 just east of
Pierce Street in Thermal, CA. - Parcel Size: ±56.15 acres
- APN: 757-190-007, 009
- Zoning: A-2-20 (Heavy Agriculture, 20 ac min.)
(Click here for RivCo Zoning Ordinance) - General Plan: Agriculture
- Utilities: Domestic Water: 18” line in Pierce St
Irrigation Water: Yes; Meter #46630 & 1304
Sewer: No sewer in the area - Tile Drains: Yes; TD-52 & TD-527
- Soils Type: GcA (Gilman fine sandy loam, wet, 0-2% slopes); MaB (Myoma fine sand, 0-5% slopes); W (Water)
- Agricultural Preserve: Yes
- Reservoir: Yes
WHAT IS AN OPPORTUNITY ZONE?
Why is investing in an Opportunity Zone better than a 1031 Exchange?
Temporary Deferral: Similar to a 1031 Exchange.
Step-up in Basis: After 5 years capital gains basis is increased by 10% and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation.
Permanent Exclusion: After 10 years the capital gains are permanently excluded from taxable income.
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warrant or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions assumptions or estimates used are for example only, and do not represent the current or future performance of the property. ref: 2/7/25 JC
Susan Harvey, Broker
[email protected]
Cell: 760.250.8992
DRE License #00957590
Ranked #1 in the Coachella Valley for Commercial Real Estate
Emily Harvey, Broker
[email protected]
Mobile: 760.636.3500
DRE License #02229612