Brookings Farm • 232 acres for sale; New Gloucester, ME

Posted on July 23, 2018Last updated 1 month ago

The Land

Property Owner:

Farmer or farm family

Property Location:

766 Intervale Road, New Gloucester, ME 04260

Total number of acres available with this property:

151-300

Acres of cropland or tillable land:

1-5

Acres of pasture:

51-100

Acres of forested land:

151-300

Is the property enrolled in a current use or other state program that affects property taxes?:

No

Is the property protected with any type of Conservation Easement?:

Yes

Is there a forest management plan for forestland on the available property?:

No

Is the property certified organic, or does it qualify for organic certification under federal organic regulations?:

No

If the property is contracted to be sold through a real estate agent, please provide name of agent and/or agency and the MLS #:

Nina Young, Maine Farms Realty - 207-930-5184 • MLS #1361383
Farm Information

Water sources present

None available

Barns, sheds or other structures

None available

Farmer housing

None available

Equipment and machinery

None available
Tenure Arrangement

Tenure arrangement

Property for sale

Property for sale

Though we have listed the property at $481,000, the actual net price to the qualified buyer for Brookings Farm will be $290,000. Due to constraints imposed by realty sales regulations, our "listing price" is set at the appraised value of the property. However, this price does not take into account the reduction in value due to the restrictions on use imposed by the Agricultural Conservation Easement that will be placed on the farm at closing. The appraised value of the farm when restricted by the conservation easement is $290,000. The Purchase is contingent on the successful application of the Request for Proposal. $481,000 listing price, appraised value of unrestricted property -$226,000 credit to buyer for appraised value of Agricultural Conservation Easement $255,000 NET PRICE

Sale price

$400,000-$600,000
Additional Information

Description

UNDER CONTRACT

Intervale Road is a very scenic stretch of rural road in the town of New Gloucester. Brookings Farm's fields lie along the road with easy access and views all the way up to the woods on the property.

This farm was operated as a family dairy, vegetable, egg farm since the 1940's. In the past few years, after the dairy was no longer part of the operation, the family hayed the farm and kept some livestock, and then leased the fields for hay production and pasturing.

The farm's best uses are for hay and livestock, with the added opportunity for woodlot management. A livestock operation can be diversified and could easily include chickens, turkeys, beef, goats, sheep and pigs. It is an excellent hay farm. The farm's location in New Gloucester and near other coastal and urban markets allows for numerous opportunities for the new owner of this property.

The farm will be sold with easement in place, that allows development of farmstead area and ag structures area, but no division.

Though we have listed the property at $481,000, the actual net price to the qualified buyer for Brookings Farm will be $255,000. Due to constraints imposed by realty sales regulations, our "listing price" is set at the appraised value of the property. However, this price does not take into account the reduction in value due to the restrictions on use imposed by the Agricultural Conservation Easement that will be placed on the farm at closing. The appraised value of the farm when restricted by the conservation easement is $255,000. The Purchase is contingent on the successful application of the Request for Proposal.

$481,000 listing price, appraised value of unrestricted property

-$226,000 credit to buyer for appraised value of Agricultural Conservation Easement

$255,000 NET PRICE

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