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Farm ID 3072

    Farm ID 3072
Property Description:

 

UNDER CONTRACT

The 178-acre Sampson Farm is located on both sides of Middle Road on North Haven, a small island (accessible by ferry) approximately 12 miles east of Rockland.  The open land (about 40 acres) has been minimally maintained, and consists of land suited for pasture and hay production, with some potential for crops.  The balance of the property is forested.

The farm has been inactive for some time, but in the past has been used for hay production as well as pasturing sheep.  The farm consists of about 40 acres of open land (much of which is prime farmland or agricultural soils of statewide significance), and approximately 140 acres of woodland (mixed hard and softwood, with some being wooded wetlands and swamp).  There is over 1000 feet of water frontage on Fresh Pond, a fresh water pond that is North Haven's water supply.

The farm includes the following buildings:

  • Two-story, 2,252-square-foot farmhouse with four bedrooms in need of total renovation.
  • Two story barn in good condition (40 feet x 25 feet)
  • Additional small shed

The Sampson Farm will be sold subject to a perpetual agricultural conservation easement restricting non-agricultural development of the property and granting an “option to purchase at agricultural value” (OPAV).  This option will allow MFT to re-purchase the farm at its agricultural value should the buyer (or a future owner) contract to sell the farm to a non-farmer.  The OPAV is included in the conservation easement to ensure the long-term affordability of the property to future farm owner-operators.

The conservation easement will designate a “farmstead area” (including the area of the current residence and barn) where existing structures can be repaired and replaced and additional agricultural structures may be constructed.  An additional building area for farm structures may be permitted.   The conservation easement will prohibit any future division of the property. A large amount of funding toward the conservation easement for this property is coming from the federal government through the Agricultural Conservation Easement Program of the Natural Resources Conservation Service.  This funding, along with additional private money MFT has raised for this purpose,  is what will make it possible for MFT to sell the property for its value as  land protected for farming. 

Though we have listed the property at $744,000, the actual net price to the qualified buyer for Sampson farm will be $295,000.   Due to constraints imposed by realty sales regulations, our "listing price" is set at the appraised value of the property.  However, this price does not take into account the reduction in value due to the restrictions on use imposed by the Agricultural Conservation Easement that will be placed on the farm at closing. The appraised value of the farm when restricted by the conservation easement is $285,000, to which we have added the value of repairs/renovations being undertaken by MFT as described below, for a total net sales price to the qualified buyer of $295,000.

744,000  listing price, appraised value of unrestricted property

-459,000  credit to buyer for appraised value of Agricultural Conservation Easement

+ $10,000 estimated value of MFT repairs to the house

$295,000 NET PRICE

“The information herein is believed to be accurate, but not warranted and should be verified by the buyer.”

Soil Map

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Listing Address:
300 Middle Road, North Haven, ME 04853, United States
Main name: Nina Young - Realtor
Contact Information
Phone: 207-930-5184
Current Farm Use: Not currently active
Total Acres: 178
Acres in Pasture: 40
Tillable Acres: 40
Farm House: 1
Predominant Soil Type: Unknown
Easement on property held by: Will be Maine Farmland Trust at the time of the sale
ME County:
  • Knox
Suitable for Growing:
  • Apple/Fruit
  • Beef Cows
  • Berries
  • Christmas Trees
  • Flowers
  • Goats
  • Grains
  • Greenhouse
  • Hay/Forage
  • Herbs
  • Hogs
  • Livestock
  • Ornamentals
  • Pasture
  • Poultry
  • Row Crops
  • Sheep
  • Vegetables
Tenure Interests:
  • Standard Sale
Farm Structure(s):
  • Barns
  • Storage
  • Shop
Categories: