OWNER: CLC Farms Solar Farms
ONLINE BIDDING
Opening July 9, 2022
& Closing August 9, 2022 @ 2:00PM
PROPERTY DESCRIPTION
Very rare chance to purchase an incredible property that is leased to a solar farm! This exclusive property has a very long term solar lease in place with an experienced operator and the solar farm is part of a 25 year revenue program with one of the nation’s largest utilities, generating very favorable positive net cash flows and excellent annual return payments.
The property lies in a predominantly developed area of Cottage Grove, Minnesota, an Eastern Twin Cities suburb. The long-term solar lease contains healthy annual increases and significant extension options. The solar tenant has a long-term power purchase agreement with a large publicly traded utility company providing financial security for the property's future owners. Additionally, 35+/- acres of cropland at the property are leased to a local farmer and could be developed before the end of the solar lease. The property has favorable net cash flow and significant upside potential as subdivisions slowly encircle it over the lease term.
This property will be sold to the highest bidder via an online timed auction ending on August 9th, 2022, at 2 PM CDT Time at LANDPROZ.COM. Rarely do investment opportunities of this type come to market, and rarely does one get to bid their price on a turnkey investment property with low maintenance and attractive rates of return.
We have hired a 3rd party financial firm to prepare and guide buyers with a buyer due diligence package available for interested investors that outlines all the details of this once-in-a-lifetime opportunity. This property checks all the boxes: high rate of return, positive cash flow, potential tax-saving strategies, environmental stewardship, and the potential to be one of the last undeveloped tracts of land in its area by the end of the lease providing a significant upside opportunity.
Don't miss this never before offered investment opportunity that will be sold via Online Auction on August 9th, 2022.
Please contact LandProz Broker Brian Haugen at 507-208-0791 or LandProz Broker & Auctioneer Greg Jensen at 507-383-1067 for more information on this property.
PROPERTY FEATURES
• 80.6 +/- Deeded acres
• Rare solar investment opportunity
• Cottage Grove MN suburbs
• Long term solar lease w/ increases
• 35 +/- Acres of farmland/development land
• In operation since 2018 with a proven history
• Large national solar company
• Very large publicly traded utility company buying the energy
• Strong, positive net cash flow
• Upside potential
• Future appreciation gains
• Phase 1 environmental study completed
• Recent title run with no title issues
• Proper permitting with excellent local authority relations
• Bid your price
• Bidding open through Aug 9, 2022 @ 2PM
• Full buyer due diligence package
• Tax savings strategies
• Turnkey investment to meet ESG goals
• Real Estate taxes $1,235 [Net of $15,031 paid for by the solar farm owner]
TERMS
$150,000 [non-refundable] down the day of the sale. Balance due at closing, on or before September 15, 2022. Possession at closing and after current tenants crops are removed. Income and taxes to be prorated to day of closing. Any statement made the day of the auction takes precedence over previous materials. All information provided herein was obtained from sources deemed reliable, but neither LandProz nor seller guarantees its accuracy.
