3585.7 +/- acres Investment Grade Farmland St. Francis, Lee & Monroe Counties, Arkansas Asking Price: $7,000,000
Owner
Harry R. Coleman, Jr. O/A
Location
St. Francis, Lee, and Monroe Counties South and East of Wheatley, Arkansas
TRACT 1
Acreage
1,717.7 Farmland Acres 1,658.2 Cropland Acres
USDA Information
Base Acres
Pmt. Acres
Direct Yield
Rate
Direct Payment
Rice
1094.4
930.24
4460
.0235
$97,498
Wheat
647.3
647.3
38
.52
$10,872
Corn
237.8
202.13
64
.28
$3,622
Totals
1979.5
1779.6
$111,992
Improvements
2634 square foot home, Three bay machinery shed, large shop 120,000 bushel grain drying, storage facility, 10 irrigation wells - One 2,745 foot Valle Center Pivot - This tract is 100% Irrigated
TRACT 2
Acreage
1,868 Farmland Acres 1,539 Cropland Acres
Improvements
1000 square foot home - headquarters/shop - 90,000 bushel Drying and Storage facility - 16 Irrigation Wells - One 1320 foot Valley Towable Pivot - 100% Irrigated
USDA Information
Base Acres
Pmt. Acres
Direct Yield
Rate
Direct Payment
Rice
1025.5
871.7
4460
.0235
$91,360
Wheat
647.3
727.6
38
.52
$14,377
Totals
1672.8
1599.3
$105,737
Total Direct Payments
$217,729
General Information
Both tract one and tract two have undergone a full phase one Environmental Site Assessment and there are no areas of concern on the property. A new title policy is on record for the property. The owner has an ongoing program of leveling the land and there are two good farmers renting the property. Each tract offers hunting opportunities for both ducks and geese. Additional income can be derived from the farm through the leasing of the property for hunting.
Taxes
The annual real estate taxes on the property are $11,485.00
Purchase Price
$7,000,000
2005 Cash Rent
$374,425.00 (estimated)
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