Fran Lee Farm |
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Sold
3585.7 +/- acres
Investment Grade Farmland
St. Francis, Lee & Monroe Counties, Arkansas
Asking Price: $7,000,000 |
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| Owner |
Harry R. Coleman, Jr. O/A |
Location |
St. Francis, Lee, and Monroe Counties
South and East of Wheatley, Arkansas
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TRACT 1 |
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Acreage |
1,717.7 Farmland Acres
1,658.2 Cropland Acres
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USDA Information |
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Base
Acres |
Pmt.
Acres |
Direct
Yield |
Rate |
Direct
Payment |
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Rice |
1094.4 |
930.24 |
4460 |
.0235 |
$97,498 |
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Wheat |
647.3 |
647.3 |
38 |
.52 |
$10,872 |
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Corn |
237.8 |
202.13 |
64 |
.28 |
$3,622 |
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Totals |
1979.5 |
1779.6 |
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$111,992 | |
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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 |
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TRACT 2 |
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Acreage |
1,868 Farmland Acres
1,539 Cropland Acres |
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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 |
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USDA Information |
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Base
Acres |
Pmt.
Acres |
Direct
Yield |
Rate
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Direct
Payment |
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Rice |
1025.5 |
871.7 |
4460 |
.0235 |
$91,360 |
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Wheat |
647.3 |
727.6 |
38 |
.52 |
$14,377 |
| Totals |
1672.8 |
1599.3 |
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$105,737 | |
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Total Direct Payments |
$217,729 |
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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.
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| Taxes |
The annual real estate taxes on the property are $11,485.00 |
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Purchase Price |
$7,000,000 |
| 2005 Cash Rent |
$374,425.00 (estimated) | | |
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