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Nw Iowa | Sell the land and exchange it. Don’t know what your farmland values are as that also figures into it. That easier said than done as commercial property is tricky to sell. It also can be tricky to own as taxes can get pretty crazy depending upon what tax rules are in your area. City can almost force you to sell by taxation. City may be interested but I am guessing they will offer far below or just want to buy a small part of it as most cities just don’t have money to spend on potential development unless it is for city or public use. I don’t know what your city is doing but some really make things happen, others not so much. . No way would I lease to a solar farm that close to commercial property values. You have potential to sell high without solar farm, most solar farms are on land that only has farmland value and than I would still have a lot of questions. If you sell in a 2 or 3 pieces, it may be easier to find property to trade into.
We own some land in a smaller town that Walmart bought neighbors property by the foot. Everybody got all excited that a whole bunch of new stores that would be coming, city started taxing about 20 acres of a adjoining 80 we own at 4 times the value. It has been 15 years and we have never been approached about anybody wanting to buy any property. So some areas really happening and others not so much. | |
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Ground for developement/solar
