1281 Rainbow Crest Rd
Fallbrook, CA 92028
Rainbow Protea Farm · Land For Sale · 177.00 AC

Rainbow Farms markets over 30 varieties of fresh Protea on the approx. 177 acre Protea Farm. Located 5 minutes from the 15 freeway. Premier farming area, surrounded by several vineyards, wineries, avocado and citrus orchards. The farm is located approximately 30 miles from the Pacific Ocean which provides beautiful ocean vistas and stunning views of surrounding communities such as Oceanside, Vista, Bonsall and several more. Its location is also home to 10 golf courses, 4 casinos and several hotels which are no more than 30 minutes away. Roads run throughout the property. There is a packing house with residential unit upstairs, office space and additional warehouse. Full irrigation system. Man made pond. These are two contiguous parcels totaling just over 177 acres listed for sale for $4,250,000,( $24,011 ac.). APN#'s 109-260-14-00 & 109-352-12-00 (2 lots). Working Protea Farm The subject is being sold as a turn key protea farm. Some of the income and expense data was furnished, the owners feel that there is a good possibility that the property could net, after expenses around $300,000. At present the operation receives in gross income over one million dollars per year. If a cap rate of 7% were used this would indicate a value using the income approach of $4,285,714. This cap rate might be a little high as commercial properties in this North County area sell from 5.5% to 6.5%. A net operating income of $300,000 and a cap rate of 5.5% would give an estimated value of $5,454,454, a cap rate of 6% gives $5,000,000. Since there was no income information on similar sales the income approach should be analyzed by a qualified financial expert. This figure would not include any trade fixtures or personal property. It was felt that the 7% cap rate might be more reasonable as this type of income producing property needs much more support than typical commercial income producing property. Owner/User For an owner-user this property has much more to offer than just the farm income. There are several possible homesites on the property and much of the property is landscaped with mature palms and other plants. There are even some seasonal concrete lined ponds on the property. The subject is truly unique and would offer a lifestyle that is getting almost impossible to find in California.