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Income Producing Tillable And Pasture Farm For Sale With Wind Turbine
Acreage
71.91 ±
County
Adair
SOLD
Address Walnut Avenue (P39), Lot #WP001 Stuart, IA 50250
View on Google MapsDescription
Whitetail Properties Real Estate is proud to offer this high-quality combination farm for sale. This property is located amongst the MidAmerican Energy Arbor Hill wind farm and has one, 2 MegaWatt wind turbine on the property. Construction of the turbine took place in 2018 and it is currently producing renewable energy for Central Iowa. The easement to the turbine is located along the north property line and this location minimized disruption to standard farming practices. The farm has well above county average soils (74.9 CSR2) and enough slope to quickly drain the tillable acres for increased productivity. Additionally, there are just over 10 acres of quality pasture for another source of income and to maximize the profitability of the farm. The woven wire and wood post fencing is less than 2 years old and is not only ideal for cattle, but also for smaller livestock like sheep or goats. Every aspect of this farm produces income: wind turbine lease, tillable production acres and pasture. If you’re a first-time farm buyer or seasoned farming operator, this would be a great farm to add to your portfolio. For more information about this farm, call the Listing Agent today.
Details
- Total 2019 farm income of $22,597.69 or 3.7% Internal Rate of Return at list price
- 2020 wind turbine payment was $10,733.69 with a compounding 2.0% annual increase for the life of the agreement
- 40-year wind turbine lease with MidAmerican Energy Company
- With 39 annual payments left, there is more than $625,000.00 in turbine revenue to be received
- 50.18 FSA tillable acres with a weighted average CSR2 of 74.9 (AgriData Inc. 2019)
- The soils are mainly Sharpsburg and Nira silty clay loams with slope ratings of less than 9 percent
- Tillable acres are currently cash rented for $220.00 per acre or $11,040.00 annually on a year-to-year rental agreement, so with notice, the farm could be open for the 2021 farming season
- The farmland is gently rolling with good drainage into the North River that borders the farm adjacent to the pasture on the southeast side
- Walnut Ave (P39) is a well-maintained gravel county road that provides great access for large-scale farming equipment or loading/unloading cattle in the pasture
- 10.30 acres of improved pasture with brand new fence and the pasture has access to plenty of water
- Pasture is rented for $80.00 per acre or $824.00 annually
- Located in Section 34 of Lincoln Township (77N) Range 30W
- Annual Property Taxes: $1,762.00
- Zoned: Agricultural
Summary
Fencing
Low Fence
Features
Tillable, Waterfront, Creek, Investment, Pasture, Minerals, Roads, Road Frontage, County Road, Road Access, Gravel, Fence, Low, Fence Material, Wire, Tillable / Production Acres, Corn, Soybeans, Livestock Facilities, Handling Facilities, Loading Chutes, Utilities, Electric, Seller's Mineral Rights Convey, Tillable, Waterfront, Creek, Investment, Pasture, Minerals, Roads, Road Frontage, County Road, Road Access, Gravel, Fence, Fence Material, Wire, Tillable / Production Acres, Corn, Soybeans, Livestock Facilities, Handling Facilities, Loading Chutes, Utilities, Electric, Seller's Mineral Rights Convey, Low Fence
Land Type
Ranch and Farm
Land Details
Tillable, Pasture
Road Surface
Gravel
Property Type
Farms
Road Frontage
County Road
Improvements/Features
Livestock Facilities, Seller's Mineral Rights Convey
Land and Farm Property Types
Agriculture - Farm, Agriculture - Pasture/Ranch
Other Property Details
Coordinates
41.4259, -94.284
Annual Taxes
$1,762
Sold Property
For more information or to see additional properties currently for sale see Garret Armstrong's listings.