Potential Hemp Farm, NM 39 SR 39, Logan, NM

5000
SqFt
List Price
Status
Sold
Property Type
Farm/Ranch
Living Area
5000
Lot Size
260 Acres

Property Description

The Ute Lake farm is located in eastern New Mexico approximately 7 miles northwest of the town of Logan. The property consists of 260 deeded acres. The New Mexico State Engineer has granted a Declaration of Water Rights in the amount 260 acres. That means 1 foot of water covering 260 acres. The water rights can be consolidated to be run thru a center pivot to irrigate approximately 85 acres with 3 feet of water per acre per year. There is an irrigation well already drilled and there is power to the property. According to the water declaration, the irrigation well is drilled to a depth of 350′ and the water column is 200′ +. It was estimated when the well was drilled that it would yield approximately 600 gpm. There is a 50′ X 100′ X 16′ steel barn on the property as well as a small cabin. The property is well fenced and fronts Highway 39. The Ute Lake Farm is 10 miles from Ute Lake Dam and State Park. Ute Lake is a premiere recreational and fishing hot spot in eastern New Mexico. Ute Lake is created by a dam on the Canadian River. Although the water rights are administered by the State Engineer, they are also a part of the Canadian River Compact with New Mexico, Texas and Oklahoma. This makes this property an excellent investment as a water investment. With New Mexico’s recent acceptance of Hemp, this place could make a great operation.

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