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Horse/Cattle Facility

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H.B. Userman

Thread Starter
Junior Member
Joined
Nov 11, 2003
Professional Status
Certified General Appraiser
State
Wisconsin
Looking for comps of horse/cattle facilities. Improvements are costing about $350K. I have some comps with high end homes, but none without. Any help is much appreciated.

40x50 office
22x90 stall barn, wash bay, tack rooms
36x70 cattle/machine shed
10x90 storage
150x32 open face cattle shed w/overhangs and feed alley
240x150 open arena, partially covered
Barn

Located in a small rural community in Sauk County, WI.
 

H.B. Userman

Thread Starter
Junior Member
Joined
Nov 11, 2003
Professional Status
Certified General Appraiser
State
Wisconsin
Cost Approach it is then :)
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
As per our phone converstation this afternoon. Try down around the ILL. Racine area. A couple sold out around southern Madison, Fitchberg area last year at auction. I would also look north of Milwaukee, Fond Du Lac, I use to shoe in several of those big barns, also up around Keil, WI, there are also several new horse projects simlar up around the Tomahawk, WI area. Several new large ones up around Hudson and St. Croix Falls use to shoe horses in all those areas.

I know of several new ones that have been built in the last couple of years.

You might also want to contact the builders. Morton, Cleary, Menards to see what they have built here in Wisconsin. That big lumber yard out between La Valle and Reedsburg (south side of the Hiway) puts up a number of horse and cattle barns in the area as well. Can't think of the name of it.

The one place down by Arena that started 3 years ago as an equine development, south of 14 hiway might have some information. There is a new one up on 14/16 at La Crosse on the north side of the hiway just before you get into La Crosse.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Gatlin,

Got the name from Bobbie last night. The development is "Falmouth Farm" at Arena, WI. It is on Ray Hollow Rd.

The coffee shop scuttlebutt in the town is, that it is on the market or soon will be on the market. There have been no home starts since it opened 1 1/2 years ago. It was the family farm for over 100 years, parents died, son gets it and starts the equine housing development. Write up about it a couple of years ago in the State Journal or Cap Times about how great a place it is going to be.

I don't think the comparables the appraiser used on my ranch in Dec. will aid you in this project. He went with interstate access/frontage and subjects that had commercial applications, home and outbuildings. Doubt any of that will fit your subject in La Valle, WI.

I will try and see what else I can come up with for you.

You might want to pick up a copy of Wisconsin Horsemen at Bobbies store in Sauk or from the Cayuse Shop in Sauk. They have a lot of equine property in them. You may also look at Western Horsemen as well. Try joning MSN Groups // Wisconsin Horse Group and pose your question there for large equine places that have sold in Wisconsin. They have a General Board and I think a Real Estate Board as sub forums with in Wisconsin Horse Groupe. Same for Yahoo Groups. These groups make good research tools when looking for odd ball subjects.

Hope this helps.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
"Falmouth Farm" at Arena, WI. is now listed on the open market for $4.9M barns, old farm house and 700 acres. Calwell-Banker has the listing.
 

H.B. Userman

Thread Starter
Junior Member
Joined
Nov 11, 2003
Professional Status
Certified General Appraiser
State
Wisconsin
I ended up getting some sales from a guy up toward Green Bay. I was able to extract the external obsolescence and hang my hat on the cost approach with a 15% external factor.
 
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