For those who watch interesting commercial real estate opportunities, you may have noted that an 11,800-acre Texas ranch was put up for auction last month. The ranch boasts over 2,000 head of Red Angus cattle, which will be sold separately after the ranch itself is sold. You can find the ranch approximately two hours outside of Dallas along Interstate 30.
Some estimate the Broseco Ranch to be worth $34.2 million, which is its current list price. The sellers are offering the sale of the ranch whole or in subdivisions. They say that the land could serve as a commercial tract or it could be used by serious ranchers as grazing land. The sellers say that the purchase will be an excellent opportunity for a variety of buyers.
The ranch itself is 50 years old. In addition to the features referenced above, the property also has two 100-acre bass fishing lakes, in addition to a deer herd and hunting and fishing lodges. It’s a veritable paradise for people who enjoy hunting and fishing year round .
First, the sellers will liquidate the real estate. Then, they will liquidate the livestock that remain this February. Finally, they will sell off the personal property and equipment of the original owner. The sellers say that they have been getting a great deal of early interest from prequalifying buyers. Those buyers might end up only buying a part of the property, however, since the land has been divided into four quadrants.
When it comes to buying large pieces of property that can be used for both recreational and business purposes, Texas real estate shoppers may want to have a skilled real estate attorney by their side.
Source: Bizjournals, “$34M Texas estate, ranch hitting auction block for liquidation,” Candace Carlisle, Oct. 20, 2017