SIGNORELLI RANCH, LOMPOC CA

Price: $1,485,000

Size: 421 +/- Acres plus potential windfarm royalties

Location: The Property is located on San Miguelito Road, approximately 8.5 miles by road, south of the town of Lompoc. The Property is situated in Santa Barbara County approximately 2.5 miles northeast from the Pacific Ocean. A portion of the Property borders Vandenberg Air Force Base.

Description: The Property consists of approximately 421 acres of native pasture cattle including about 2 acres at the headquarters. The Property fronts on San Miguelito Road, but provides privacy to the headquarters area from the road. Varying from rolling to steep topography, the native pasture includes grasslands, chapparal, and oak savannahs. Elevations vary from approximately 800 feet above sea level at the northern boundary along San Miguelito Road, to an elevation of 1,940 feet above sea level on the southerly portion of the ranch. Vast vistas of the Pacific Ocean are offered from this highest portion of the ranch.

Cattle Lease: The Property is currently leased to a local cattle rancher for grazing purposes on a month to month basis. Cattle grazing rent is $2,000 annually.

Wind Farm Lease: There is an existing lease to a windfarm company that holds the tenant’s right to develop a windfarm on the property, subject to governmental approvals. During the time that the lease is in place and the tenant is pursuing approvals, rent is $20,000 annually. If no development occurs by September 2020, then the lease may be terminated. The lease agreement may be made available to prospective buyers upon signing a Non-Disclosure Agreement, and prospective buyers are advised to review the lease for specific terms.
The windfarm as currently proposed would occupy the southern, higher elevation of the ranch which is generally the opposite end of the ranch from the headquarters. Access to the proposed windfarm is anticipated from the neighboring property rather than entrance to the Property at San Miguelito Road. If the windfarm is developed, the rent become the greater of $20,000 annually or a 3% royalty of electricity generated.

Improvements: The Property is a historic cattle ranch and has been in the current owner’s family for over 100 years. The improvements include a residence that is in poor condition, and several barns, sheds, and outbuildings that range from poor to average condition. The residence is not considered habitable in its current condition.

Water Source: The water source for this Property is from an onsite spring located at the higher elevation of the ranch to the south, allowing gravity flow to the house and livestock water troughs. The spring runs year-round, however in drought years water has been brought on to the Property.

Soils: For details, please refer to page 4 of the brochure.

Zoning: The Property is zoned AG-II 100

Agricultural Preserve: This Property is in the Agricultural Preserve (Williamson Act). Therefore property taxes are assessed based upon the much lower valuation determined by agricultural income.

Utilities: The Property is serviced with electrical power and telephone. Heating is by propane and sewage is by septic tank.

Property Tax: 2018-2019 Taxes are $6,506  annually

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