Although the property is contiguous, paved roads divide it into three pieces. The main body of the ranch is a 314 acre parcel that lies northwest of the intersection of Stella Road and South Indian Meridian, an additional 45.2 acres lies southwest of the same intersection and 5.8 acres lies east of South Indian Meridian at about the midpoint of the 314 acre parcel. Therefore, the property has over 7500 feet of frontage on paved roads, with over 1500 feet having frontage on both sides of these roads. Approximately 115 acres of the ranch is developable and a portion already has preliminary plat work completed. Subdivisions border the ranch on both the east and west. Likewise, Olive Ranch has plenty of development potential.
The acreage at an elevation lower than 1064.5 ft is encumbered by the Lake Thunderbird flowage easement. This flowage easement area roughly coincides with the floodplain of Hog Creek which runs through the center of the ranch for over one mile and is characterized by extremely fertile pastures with a canopy of mature pecan trees. This part of the property offers significant potential tax shelters in the form of pecan tree depreciation and conservation easements. Given the constant encroachment of the metro on farm land, this ranch appears to be ideal for a farm land conservation easement, especially if operated as a productive ranch, winery or agritourism site. Conservation easements can potentially be used to offset a portion of personal income tax for up to 16 years.
Although Olive Ranch is largely a blank slate, it does come with a nicely remodeled 1531 square foot, 3 bed, 2 bathroom home. Featuring updated travertine tile, granite countertops, kitchen cabinets, fixtures and paint, this would be a cozy transitional home to inhabit while you build your dream home on the main body of the ranch. With 80 feet of elevation change, there are multiple home building spots with grand sweeping views of the pecan lined creek bottom. Multiple barns exist to store all your equipment and toys.
If you are looking for either a rural lifestyle, tax benefits or development opportunities inside the city limits of Norman and Oklahoma City, look no further. This property has all the features of a great recreational ranch or farm while also being a few minutes from everything the metro has to offer; this land is ready for you to develop it into your dream property.
Call Kelly Hurt at 580 421 7512 to schedule a showing.
Number of Ponds (water 1-5 acres)
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NOTE: The information contained herein is provided as general information only and has been obtained from sources deemed reliable. It is provided without any guaranty, warranty or representation, expressed or implied, made by Lands of America, or any related entity, as to the accuracy or completeness of the information. The information is presented subject to errors, omissions, change of price or conditions, prior sale or withdrawal without notice. Prospective purchasers should make their own investigations, projections and conclusions concerning the information.