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Farms, Homes, Acreage, Hunting Land, Lake Properties,
Commercial and Build Sites For Sale.
Real estate for sale primarily north of I-70 to the Iowa state line
and east of U.S. Hwy. 65 to the Mississippi River
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#05-844-02:
Farms & Ranches - ag production -- Under Contract
Palmyra, MO 63461 (Marion County)
Palmyra R-1 School District
Fertile Mississippi River Bottom, Levy Protected, 94% Tillable, Location, Location!! — Price: $5,300,000
Click here for Driving Directions
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| Here is a farm you don't see every day. Actually you rarely see a farm like this come up for sell. This is without a doubt one of the best tillable farms I've had the privilege to sell. This 844 acre Mississippi River Bottom farm is comprised 795 tillable acres. 117 acres of that are class 2 Belknap Silt Loam and 678 acres of class 3 Carlow and Chequest Silty Clay Loam. Part of the farm has been drain tiled. The drainage ditches have been recently cleaned out. It sits behind a levy district levy that protects it from the Mississippi River. This farm is currently cash rented for $290/acre ($230,550 yearly) based on the 795 tillable. Farm is rented for crop years 2018, 2019, and 2020. We had multiple offers at this amount. The current tenant was already farming in this bottom and wanted to add to his families current production. With the previous better grain prices farmers where paying $350/acre. Hopefully if grain prices rise you will be able to enjoy the added income. The proximity to Quincy also makes this location a positive factor. Currently the Levy District taxes and property taxes would total around $48 per acre making a net of $242/acre ($192,390 yearly) on the income. The levy district tax which was used to raise the levy and currently building for another project is not all negative. By being behind this great levy the farm ground went from being High Risk for crop insurance to Low Risk saving the farmer approximately $33 per acre and a greater certainty of a quality crop. With comps in the area from $7600/acre to $8900/acre range we believe this farm is priced relatively under the market for what it is. With this location, productivity, and increase in grain prices its very possible to see a vast increase in price for this farm making it a great investment as well. As a wise guy once told me farms like these are the last to drop and the first to go up in price. Call today for a showing Jeff Quinn 1-660-734-3925
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