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This is a very nice farm with excellent equipment. This farm is Cash Leased for the 2016 crop year at a rate of $18,000.00 and the tenant is responsible for all sprinkler and well repair.
There are seven submersible wells. Five of the wells are 15 hp and two are 10 hp. All the wells are tied together with eight inch underground line. All the pumps are fairly new and have new Siemens panels and poly column pipe. Four of the wells were drilled in the last three years.
The sprinkler is a 2011 T&L with an electric power unit. It is nozzled for 400 gpm and is equipped with new style LDN nozzles on 80 spacing. The sprinkler has standard size rubber and poly tires. There are kill wires to all the wells. A 1,600 gallon poly fertilizer tank sits on a concrete pad.
This farm has a large amount of depreciable assets and is in a very good area. With the current lease, this farm offers a 5.4% net ROI at the current asking price. The structure of the lease makes this farm an interesting prospect for an investor.
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