650-acre Pine Ranch sold for eight times its assessed value

The farmland was assessed at $436,115 and sold for $4 million

for Western Investor
May 4, 2017

pine ranch
Price: $4,000,000 
Lot Size: 650
Property Type: Land
Zoning: ALR
2016 B.C. Assessment Value: $436,115
Date of Sale: 04/15/2017
City: Merritt
Province: B.C.
Name of Brokerage: Sutton Group West Coast Realty Harrison Hot Springs
Pine Ranch in Merritt has sold for $4 million, according to agent Freddy Marks of Sutton Group West Coast Realty Harrison Hot Springs. 
The 650-acres of farmland features an operational gravel pit, two houses, machine shops, storage, irrigation and calving sheds. The ranch currently operates as a cattle farm. The property was once part of the Coldwater River Basin. The land’s plentiful water supply allows for an abundance of vegetation with room to increase existing hayfields.  The land was listed for $4,400,000 and assessed at just $436,115. 
Pine Ranch is located at 990 Patchett Rd., Merritt. 

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Freddy is a managing broker for the Sutton Showplace Realty. Freddy has been involved in real estate sales in the Canadian and European market since the 80s.

Sutton Showplace Realty
7134 Vedder Road
Chilliwack, B.C. V2R
Direct: 604-491-1060

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