We are selling our LLC, which owns outright a 5 acre farm in prime outdoor recreation location. The business holds a tier II production license LEASE, with the current tenant under a 5 year renewable contract, they are leasing 1 acre for 6ok/year includes the barn. 4 years remain under current obligation with option to renew at 10% increase every 5 years.
Remaining 4 acres are usable with established pasture and fruit orchard which includes apples, pears, plums, cherries, grapes, mulberry, and fig. Well-house with pressure tank that has about 18 gpm with an on-demand hot water outdoor shower and sink. Septic tank was serviced and inspected 2018, there is one outhouse plumbed. There are 2 dwelling permits on file with county, potential to rebuild two homes on site. There is a 200 sqft, insulated accessory building with windows, wood stove, and a finished interior. There is a 400 amp single phase service to the farm. Our farm is located on a 20 mile bike path to the town of Cottage Grove, 5 minutes to Lake Dorena and the Row River. Hiking, camping, biking, rafting, boating, swimming are all within minutes of the property.
Tenants have developed one acre into tier II indoor production license with two 5000+ sqft indoor greenhouses that are fully automated with blackout, ventilation, and lighting systems. There is a 3000 sqft barn that has an office, clone room, and 1000 sqft drying room inside. Rain water collection system off barn with multiple water tanks. There is an upgraded 3-phase service to leased premises. All development and improvements can transfer to property owner if lease is not renewed. Tenant has interest in further licensing for processing and wholesale so a potential to increase rental income to $10,000/month.
There is also a second micro tier production license available for sale with property as well, currently in pending status with OLCC. Could be expanded to larger tier.
