Randy Hastings Of Hillard Agency Brokers $2.8M Sale Of 115-Acre Ranch In Tuscola
402 East North Line Road
$2,796,552
Building Size
—
Asset Type
Land
Closing
Aug 30, 2024
About this deal
AI
A 115-acre ranch located at 402 East North Line Road in the Tuscola market has been sold for $2,796,552. The property consists of 111 acres of farm ground and an additional 4-acre tract, which includes a horse barn, pastures, grain bins, and a machine shed. This land presents potential for residential development.
Summary of transaction details:
- Property Type: Ranch
- Transaction Amount: $2,796,552
- Address: 402 East North Line Road
- Market: Tuscola
- Acres: 115
- Broker: Randy Hastings
- Agency: Hillard Agency
Randy Hastings represented the transaction as the broker, facilitating the sale of the property which is suitable for agricultural use and possible future residential development.
Players
Tuscola Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93