Thornton Ranch Sales

Thornton Ranch Sales
Leonard F. (LEN) Thornton
Broker, REALTOR®
1501 Isaac Creek Circle
New Braunfels, TX 78132
Phone: (210) 656-1955
Fax: (800) 371-8486

LEON CREEK RANCH
(Development Land on Outskirts of San Antonio)

489.29 ACRES
BEXAR COUNTY, TEXAS

LOCATION: Located 2 miles south of Loop 410 and only 7 miles south of downtown San Antonio which is the county seat of Bexar County; or 85 miles southwest of Austin; or 195 miles west of Houston; or 260 miles southwest of Dallas. All distances are measured straight-line "as the crow flies".

BACKGROUND: This prime land has been owned by a three person partnership for more than 30 years. It has been used as an irrigated farm and as a specialized irrigated sod farm. It is presently leased to a local farmer who operates it as a dry land farm for production of cattle and crops (corn, milo and wheat).

REASON FOR SALE: The Owners, two of whom live out of state, are getting along in years and desire to liquidate the property and go their separate ways. They own this land free and clear of debt and have agreed to sell it a reasonable price.

METHOD OF SALE: The Owners have given Thornton Ranch Sales exclusive authorization to market this unique property. The Owners (Sellers) will convey the property by a General Warranty Deed, provide a standard Owner's Policy of Title Insurance, and provide a survey of the property dated May 6, 1969. This ranch is for sale on an all cash basis or on any other terms acceptable to the Sellers. Any Seller financing would be subject to Seller's approval of the buyer's credit.

DESCRIPTION: This well located property has many positive characteristics that make it an investment opportunity. Specifically, there is 2,945 feet of paved road frontage on Mauermann Road which forms the northerly boundary line of this land. Leon Creek, a live water creek, forms the southerly boundary line of the property for a linear distance of 5,360 feet. Only about 5% to 10% of the property lies within the 100 year flood plain of Leon Creek and the remainder is perfectly usable for residential or commercial development, a golf course, horse/cattle showplace, a mobile home park, farming or excavation and sale of the approximately three foot layer of fertile black sandy clay loam topsoil that overlies the property. In addition to the creek there are two good earthen stock tanks/lakes that hold water like a jug. Privacy is assured as there are no road easements through the property to serve other land owners. Access to the property and access to the major highways serving the city of San Antonio is excellent. City water and sewer are available adjacent to or on the property. Recycled irrigation water is also available for purchase from the San Antonio Water System (SAWS) via a large waste water aqueduct that traverses the property. Approximately 405 acres are in cultivated farmland and the remaining 84.29 acres are in pasture land. Elevation above sea level varies from 500 to 557 feet with a gentle slope from north to south making flood irrigation very easy if that should be your desire. This land lies just barely outside the city limit of San Antonio. However, the land does lie within the Extraterritorial Jurisdiction of San Antonio which extends five miles beyond the city limit line. One picture is worth 10,000 words. Accordingly, please take a look at the aerial and ground snapshots above. If you have been searching for an investment opportunity with multiple uses and outstanding upside potential, this one could easily end your search.

MINERALS: All the minerals owned will be conveyed to the buyer. At some time in the past, four shallow oil/gas wells were drilled on this property. However, there is no production of the property at this time and the minerals are open (i.e. not leased for oil/gas exploration/production). IMPROVEMENTS: Perimeter fence and a few internal cross fences. Two earthen stock tanks/lakes. Telephone, electricity and city water and sewer service are available.

POSSESSION: The property will be conveyed subject to no leases of any kind except for a year to year farming and grazing lease to a local farmer for the 2001-2002 crop year.

TAXES: Based on current agricultural use on 405 acres and non-agricultural use on 84.29 acres the total ad valorum taxes for CY 2001 were $2,997.31.

PRICE: $978,580.00* ($2,000.00 per acre).

* PRICE: The total price shall be adjusted based on the actual number of surveyed acres that will be conveyed by a General Warranty Deed and covered by an Owner's Policy of Title Insurance multiplied by the price per acre agreed upon by OWNER (Seller) and Buyer. Said price shall not include any livestock, vehicles, equipment or personal property.

TERMS: (2 options as follows):

All cash at closing
Any other terms that are acceptable to OWNER (Seller)

ESTIMATED RETAIL MARKET VALUE OF THE TOP SOIL ON THIS PROPERTY: The cost of screened sandy clay loam topsoil delivered to a user in San Antonio varies from $11.00 to $16.00 per cubic yard. Based on the assumption that a three foot depth of topsoil covers 400 acres of this property and an assumed delivery price of only $10.00 per cubic yard, the gross value of the topsoil on this property would be Nineteen Million Three Hundred Sixty Thousand Dollars ($19,360,000.00). Consult Broker for these conservative calculations.

BROKER COMMENTS AND MISCELLANEOUS INFORMATION: In my opinion this reasonably priced land is a golden opportunity for someone with some capital, creativity and marketing skills. There is a dynamic top soil excavation and marketing program now in progress on the land adjacent to the west boundary line of this property. And just a short distance further west there is a large mobile home park now under development. Better hurry on this one!!!!

SHOWING COORDINATION: This ranch is available for inspection seven days a week by prior appointment only. CALL: Len Thornton (210) 656-1955 at any time for showing coordination, service and support. Or you may contact me via E-Mail at: len@thorntonranchsales.com

NOTE: This offering is made subject to prior sale, change of price, or withdrawal from the market at any time. The information contained herein is from sources deemed reliable but is not warranted or guaranteed by THORNTON RANCH SALES.

For more information on this property see our Invitation to Buyers.