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OWNER
Morehart Farms
SEALED BID SUBMISSIONS
In-Person or via USPS to:
111 E Clark Street, Albert Lea, MN
or
1800 Roscoe Avenue, Zumbrota, MN
or
Email your bid to Office@LandProz.com
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PROPERTY DESCRIPTION
LandProz is pleased to present the Morehart Farms in Olmsted County, MN. This cropland will be offered to the public to bid their price, via a one-chance sealed bid auction. Bids must be submitted no later than Friday November 22, 2024 at 12:00 PM[CST]. Sealed bids can be submitted in-person, by mail or by e-mail [see submission options listed above].
Please contact LandProz Associate Broker & Realtor® Jen Busch at 507-923-7657 for more information regarding this auction.
TRACT 1
Introducing an exceptional opportunity to acquire 40 +/- deeded acres of prime agricultural land, with 38.5 +/- acres available for tillable farming. This productive farmland is located just 11 miles South of Rochester, MN; and conveniently located directly off Highway 52, making it easily accessible on the route to Chatfield, MN.
The land boasts a CPI of 58.8, indicating its potential for high-yield farming operations. Currently, the property generates a solid rental income of $300 per acre, providing a reliable return on investment for the new owner.
This parcel is not only an ideal choice for those looking to expand their farming portfolio, but it also offers the potential for a variety of agricultural uses, whether you’re interested in leasing the land to local farmers or managing the crops yourself. Don’t miss out on this fantastic opportunity to invest in a productive piece of farmland with great income potential!
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• 40.00 +/- Deeded Acres
• 38.50 +/- Tillable Acres
• CPI of 58.8
• Prominent Soil Types: Rockton Loam
• Tenant/Possession: Rented for 2025 & 2026 [$300/acre rent is due in April & 2nd half in November, through 2026]
• Real Estate taxes $2,316
TRACT 2
Introducing an exceptional opportunity to acquire 58.02 +/- deeded acres of prime agricultural land, with 54.02 +/- acres available for tillable farming. This productive farmland is located just 11 miles South of Rochester, MN; and conveniently located directly off Highway 52, making it easily accessible on the route to Chatfield, MN.
The land boasts a CPI of 57.5, indicating its potential for high-yield farming operations. Currently, the property generates a solid rental income of $300 per acre, providing a reliable return on investment for the new owner.
This parcel is not only an ideal choice for those looking to expand their farming portfolio, but it also offers the potential for a variety of agricultural uses, whether you’re interested in leasing the land to local farmers or managing the crops yourself. Don’t miss out on this fantastic opportunity to invest in a productive piece of farmland with great income potential!
• 58.02 +/- Deeded Acres
• 54.02 +/- Tillable Acres
• CPI of 57.5
• Prominent Soil Types: Rockton Loam
• Tenant/Possession: Rented for 2025 & 2026 [$300/acre rent is due in April & 2nd half in November, through 2026]
• Real Estate taxes $2,950
TRACT 3
Introducing an exceptional opportunity to acquire 88.14 +/- deeded acres of prime agricultural land, with 79.94 +/- acres available for tillable farming. This productive farmland is located just 11 miles South of Rochester, MN; and conveniently located directly off Highway 52, making it easily accessible on the route to Chatfield, MN. This land also has the potential for a home building site, subject to local authority approval and building permit process.
The land boasts a CPI of 55.6, indicating its potential for high-yield farming operations. Currently, the property generates a solid rental income of $300 per acre, providing a reliable return on investment for the new owner.
This parcel is not only an ideal choice for those looking to expand their farming portfolio, but it also offers the potential for a variety of agricultural uses, whether you’re interested in leasing the land to local farmers or managing the crops yourself. Don’t miss out on this fantastic opportunity to invest in a productive piece of farmland with great income potential!
• 88.14 +/- Deeded Acres
• 79.94 +/- Tillable Acres
• CPI of 55.6
• Potential building site
• Prominent Soil Types: Rockton Loam
• Tenant/Possession: Rented for 2025 & 2026 [$300/acre rent is due in April & 2nd half in November, through 2026]
• Real Estate taxes $4,716
TRACT 4
Discover an exceptional 80 +/- acres of prime land, subject to split and county approval. With around 44 +/- tillable acres, featuring a perfect blend of Rockton Loam soil types. This property boasts a CPI of 68, making it an ideal canvas for agricultural endeavors.
Nestled just 9 miles from downtown Rochester, MN, and conveniently located about a mile from I-90, this parcel enjoys a prominent location right off Highway 52. This accessibility makes it not only a fantastic investment for farming but also a potential future residence, as a new buyer you would have the opportunity to build a home, pending approval from Olmsted County zoning and building permitting.
The farmland currently generates a promising income of $250 per acre for the 2025 and 2026 seasons, providing a lucrative opportunity for anyone looking to rent out the land or enhance their own agricultural portfolio. Whether you're interested in operating the land yourself with corn or bean crops, or seeking to invest in a high-demand area, this property is a rare find.
Don't miss out on this incredible opportunity to own a versatile piece of land in a thriving location!
• 80 +/- Deeded Acres [subject to survey & approved county split with Tract 5]
• 44 +/- Tillable Acres
• CPI of 68
• Prominent Soil Types: Rockton Loam
• Tenant/Possession: Rented for 2025 & 2026 [$250/acre rent is due in April & 2nd half in November, through 2026]
• Real Estate taxes $3,460 [TBD]
TRACT 5
Discover an exceptional 45 +/- acres of prime land, subject to split and survey. With 43 +/- acres classified as tillable, featuring a perfect blend of rock and loam soil types. This property boasts a CPI of 63.4, making it an ideal canvas for agricultural endeavors.
Nestled just 9 miles from downtown Rochester, MN, and conveniently located about a mile from I-90, this parcel enjoys a prominent location right off Highway 52. This accessibility makes it not only a fantastic investment for farming, but also a potential future residence, as a new buyer you would have the opportunity to build a home, pending approval from Olmsted County zoning and building permitting.
The farmland currently generates a promising income of $250 per acre for the 2025 and 2026 seasons, providing a lucrative opportunity for anyone looking to rent out the land or enhance their own agricultural portfolio. Whether you're interested in operating the land yourself with corn or bean crops, or seeking to invest in a high-demand area, this property is a rare find.
Don't miss out on this incredible opportunity to own a versatile piece of land in a thriving location!
• 45 +/- Deeded Acres [subject to survey & approved county split with Tract 4]
• 43 +/- Tillable Acres
• CPI of 63.4
• Prominent Soil Types: Rockton Loam
• Tenant/Possession: Rented for 2025 & 2026 [$250/acre rent is due in April & 2nd half in November, through 2026]
• Real Estate taxes $2,150 [TBD]
TERMS
10% down [non-refundable] of Earnest Money due upon accepted winning bid to accompany an executed purchase agreement. Earnest money will be held in the listing brokerage escrow account until closing. Only approved bidders will be registered to bid via sealed bid auction. Buyers will need to provide a letter of credit or proof of funds with sealed bid. Closing will be on, or before, December 30, 2024. Farm has rent agreement in place for 2025 & 2026, subject to tenant rights & lease will be assigned to the buyer at closing. Bidding will be dollars per deeded acre. Any statements made the day of the auction take precedence over previous materials. All information provided herein was obtained from sources deemed reliable, but neither the auction company nor the seller guarantee it's accuracy. For more information, a copy of the purchase agreement, or copy of the lease agreement, or a bidding packet, please contact Auction Manager Jen Busch at 507-923-7657.
