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Cost Data for Horse Properties/Barn

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KYLECODY

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Saw a home, REO, with a very nice 6 stall 2500 SF steel barn with tack room, electrical, water, misters, etc. Looks like it was an active horse boarding facility. Looking for some directions for actual cost as my cost source doesnt have this data. Thanks.
 

Midwest Guy

Senior Member
Joined
Dec 12, 2006
Professional Status
Certified Residential Appraiser
State
Missouri
National Building Cost Manual! $28.00
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
M & S has for average quality at $22.65 and for good quality $34.85. Neither account for your multipliers. AZ multiplier is .97 and then you have to find your town but I couldn't find REO Springs on the map. If you are from Del Rio Springs that is near Flagstaff which is multiplied again by 1.01.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
If you are looking at buying or investing in this as a horse place for resale or to rent. In addition to the barns and acreage, you will need to consider the nearness to public land for riding. Makes some difference to the horse owner, if you can saddle up and go for a long ride or if you have to load up and drive and then go for a long ride.

You should also check other things like the rules and regs in the area for livestock, manure handling, how much water you have available for the stock and your self. Location in AZ can make a big difference as well, a fully enclosed steel barn can become and oven for horses in some areas, so you need to check ventilation. Lots of things to look at and for.
 

farmguy

Member
Joined
Jun 27, 2007
Professional Status
Banking/Mortgage Industry
State
Texas
We have a lot of those type properties that we finance. I have some costs on pretty nice barns around $20/sf. I stay away from Marshall and Swift. By the time come up with enough cost data to tweak the multiplier, I have enough cost data not to need M&S. Some of the stables like "Barn Master" are much higher, but I find they don't contribute close to cost upon resale. A good wood frame barn, corrugated roof, 12 foot alley, 12 foot stalls, a tack room, wash rack, stock, water, elect. can be built for $20 to $25/sf in my area. What we deal with are typically just very functional type barns. We are not in the snobby horse country.
 

farmguy

Member
Joined
Jun 27, 2007
Professional Status
Banking/Mortgage Industry
State
Texas
Just to add to above post, we are still in good shape in Texas price wise and a new stable often contributes close to what it cost. However, during the mid 80's when we were suffering and into the 90's horse properties generally took in the range of a 50% (external/functional -call it what you like) hit to contribution in addition to physical dep. I'm just saying that because you mention it is REO. If the area is suffering it could be folks won't want expensive pets, like horses.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Try calling Morton or other builder for information if it has a lot of specialized improvements. We have one near me that offers classes, etc. and the old cost books are really not applicable. I know they have at least $50 a SF in part of the barn and the Arena isn't less than $20-25/SF.
 

Caterina Platt

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
Kyle,

Check out the Yard Improvements section of M & S. Page C-2 to be exact. Pre-engineered steel buildings, stalls of different types, etc. are all included.
 

farmguy

Member
Joined
Jun 27, 2007
Professional Status
Banking/Mortgage Industry
State
Texas
Looked at a sale today I am going to use on a job. It was 23 acres with a 20 year old brick home, a +/-10 year old 15 stall barn and a 2 or 3 year old 15 stall barn, insulated, fly mister, auto water, (good barn), covered round pen and open arena. I have a pretty good handle on land value and the house contribution. The barns backed out at about $12/sf on older barn and $18/sf on newer barn, give or take a dollar or two. The covered round pen, fencing and arena are hard to allocate.
 
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