Vantage Point Farm - SOLD

Price: $525,000.00
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Property ID: 8
Address: 8514 Katy Hockley Road, Harris County, TX
Price: $525,000.00
Property type: Agriculture
Property Category: Farm
Property Description:

Size: 9.0789 Acres

Location: This facility is located at 8514 Katy Hockley Road in western Harris County. This location is about 6 miles north of Katy, Texas.

Remarks: Vantage Point Farm is a 46-stall horse facility with an outdoor arena. Improvements include a 12,000 square foot horse barn with 46 wooden box stalls (12' x 12'), two tack rooms, office/lounge, feed room, storage rooms and an indoor work area. The property also includes an outside storage building which is being used for the storage of hay and shavings. The outdoor work areas include a 50-foot round pen and a 100' x 200' outdoor arena with a sand/dirt mixed footing. There are 8 turn out paddocks featuring three-rail wooden fencing as well as 3 large pastures. The property is currently leased with 2 years remaining on the term and the lease could be cancelled with a 120-day notice. Current rent is $2,590 per month and for the year 2015 it will increase to $2,658 per month. The lease includes a clause for the lease to be renewed for an additional 3 year term. The new owner can either owner/operate the facility or continue the lease making the Vantage Point Farm a great income producing investment. The property is well positioned just north of Katy and it would be well suited for redevelopment with a residential development. During the interim the lease makes holding the property affordable with monthly cash flow.

 Price: $550,000

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