650-acre Pine Ranch sold for eight times its assessed value
The farmland was assessed at $436,115 and sold for $4 million
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Lot Size: 650
Property Type: Land
2016 B.C. Assessment Value: $436,115
Date of Sale: 04/15/2017
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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