Highway 41 and 145 1,221 Acres of Commercial Land Offered at $32,407,680 CAD in Madera, CA 93636

FOR SALE | PROPERTY SUMMARY
Located near the southeast corner of State Highways 41 and 145 in Madera County, California (Approximately 6 miles north of Fresno and 13 miles east of Madera).
Size: ±1,221 acres of undeveloped land
APN’s: 051-186-002 (±316.37 acres)
051-192-001 (±320.00 acres)
051-215-002 (±185.19 acres)*
051-220-001 (±400.00 acres)*
*Parcels to be combined under one new APN
Price: $23,216,000
Zoning: Property is situated within the Rio Mesa General Plan Study Area & Sphere of Influence. According to the Madera County Planning Department, this land has not yet been given any land use designation yet, other than Agricultural Land in the Madera County General
Plan. Property was officially removed from the Williamson Act in 2016.
Entitlement Process: Madera County would like to see this property “master planned” for General Business Park uses such as office, light industrial and retail commercial uses. Single family residential, multi-family residential and mixed-use development is highly encouraged as well. County Officials estimated that the processing time for obtaining the necessary entitlements is approximately 18-24 months. An Environmental Impact Report (EIR) will be required as well.
Utilities & Water: Most of the developed and undeveloped properties obtain water from the Madera Irrigation District Canal (runs east to west) which
is south of the subject property. Seller owns the approximate 556 acres (2 large parcels) immediately north of the subject property.
There currently are no water easements across these 4 parcels from the MID Canal, however, the easement agreements have been
prepared by Seller’s attorney but not yet recorded. These will be recorded before a sale of these parcels is completed. The allocation,
distribution, quantity and quality of water on the Sale property are to be determined and evaluated by Buyer. Another option is to
investigate joining a new water district (Root Creek Water District) formed by Castle & Cooke, a large developer who formerly owned
2,225 acres nearby for development of a major residential community which is now under way, called Riverstone.
Leaseback: Seller shall retain the right to leaseback the acreage for cattle grazing purposes until entitlements are obtained from the County of
Madera to develop the property. Seller’s attorney has prepared a license agreement for this purpose.
Property is located 10 minutes from River Park and other major retail centers, 15 minutes from Millerton Lake, 20 minutes from Downtown Fresno, and 60 minutes from Yosemite.