Reed Farm - Future Single Family Residential/Agricultural Land

Vacant Land for Sale
Also listed as Industrial, Farm/Ranch
Catylist Listing ID: 29993482
Property Subtypes: Agricultural, Industrial, Residential (Single Family), Vacation/Resort, Other
Gross Land Area: 694.05 Acres
Sale Price: $7,000,000
Unit Price: $10,085 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/16/2018

Overview / Comments

Property One, Inc. has been exclusively engaged to facilitate the disposition of the property in West Baton Rouge Parish, which includes a 689.05 acre tract and a 5.0 acre tract, totaling 694.05. The current use of the land is agricultural on the front and recreational/timber land on the back. Sellers will reserve 100% of mineral rights.

Owner would consider a sale of all or part:

- Entire 694.05 acre tract @ $7,000,000 ($10,085.73 per acre)
- Recreational 335 acre tract @ $1,400,000 ($4,179.10 per acre)
- Single Family Residential/ Commercial 359.09 acre tract @ $6,600,000 ($18,381.84 per acre)

Opportunities and challenges:

- Access: In addition to the Access across Railroad with the extension of Antonio Rd, there are 12 stub-outs from Emily Drive into the property. Street names: Ella St., Emile St., Eva St., Beulah St., Julia St., Melvin St., Marcy St., Ryan St., Ewing St., Sharon St., Ashley St., and Horace St.

- Railroad: Developer will have to negotiate with the Union Pacific Railroad to convert an existing private crossing to a public crossing. Broker spoke to Todd Harris with Union Pacific Railroad, who indicated the process includes obtaining an agreement between DOTD, West Baton Rouge, Developer, and Union Pacific on the improvements required to convert the crossing. He indicated this is a standardized process that takes between six to nine months.

- Wetlands: In 2014 the Natural Resources Conservation Service (NRCS) of the USDA conducted a Wetlands Determination of the property in accordance with the Food Security Act of 1985, which indicated there is a total of 331+/- acres of wetlands. Almost all of the wetlands are located in the "Recreational Tract". In order to develop the site, a Developer will need to secure a Jurisdictional Determination (JD) from the Army Corps of Engineers (ACOE).

Additional Details

Nearest MSA: Baton Rouge
County: West Baton Rouge
Submarket/Township: 70
Tax ID/APN: 304600000200
Property Visibility: Excellent
Legal Description: A 694.05+/- acre tract or parcel of ground, together with all buildings and improvements situated thereon, being a portion of the Antonio Plantation, situated in Sections 79, 80, 104, 105, 106 and 107, Township 7 South, Range 12 East, and Sections 5, 6, 7, 47, 48 and 49, Township 8 South, Range 12 East, in West Baton Rouge Parish, Louisiana
Largest Nearby Street: Louisiana Hwy 1
Feet of Frontage: 2,550
Traffic/Vehicle Count: 34,878
Highway Access: Need to convert private railroad crossing to public crossing in order to use for anything other than agricultural or recreational use.
Rail Access: Yes
Zoning Description: In 2011, West Baton Rouge completed a comprehensive Master Plan for the entire parish, called PlanWEST, designating the front of this site as a village center with future land uses designated as regional retail, village center, residential, and described as an area that “incorporates a diverse mix of residential, commercial, employment, and civic uses.” The village center accommodates expanded civic uses such as a community center, schools, post office, a village green and becomes a hub for surrounding areas.
Topography: Level
Easements: Pipelines, Electric Lines
Easements Description: There is an underground Exxon/Mobil pipeline that runs along the East side (frontage) of the property and then up the North side of the property. ROW is approximately 100' wide and comprises approximately 13.3+- acres of land that is not buildable, but can be used as green space within a development. There is a power line that runs North-South through he middle of the property. Company is Entergy (formerly Gulf States Utilities Co.) ROW is approximately 225' wide, and comprises approximately 13.3+- acres of land that is not buildable, but can be used for green space within a development.
Soil Type: Loam
Available Utilities: Electric, Water, Gas
Water Service: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,335 26,281 81,741
Median Age: 37.65 30.73 31.4
Households: 822 10,600 33,537

Contact

Photograph of Listing Agent

Will H Adams, IV

Property One Inc Baton Rouge Baton Rouge, LA 70816
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.