Valuation and Sale of Unique Massachusetts Orchard
Valuation and Sale of Unique Massachusetts Orchard
Autumn Hills Orchard in Groton, Massachusetts
PROPERTY LOCATION
- Groton, MA
PROPERTY SPECIFICS
- 84± acre orchard that had been a working orchard for over 80 years.
- One of two remaining commercial orchards in Groton and the only one with pick-your-own.
- Approximately 3,400 apple trees with 30 varieties plus additional fruit trees.
- 360-degree hilltop views.
THE PRINCIPALS
- Owner
- Owner’s attorney and tax advisor
THE ASSIGNMENT
- Value the land based on its highest and best use as a residential development and provide a separate valuation for the existing business.
- Conduct preliminary environmental due diligence due to historic pesticide use.
- Market the property with the goal of finding a buyer who would continue to operate the orchard and not convert it to residential development, while achieving maximum value.
CHALLENGES OVERCOME
- Providing a reliable valuation despite site constraints and limited market data.
- Finding a buyer whose vision for the property and valuation rationale was consistent with the seller's vision.
- Managing a septic system replacement on behalf of the seller following the sale.
THE OUTCOME
Marketing efforts generated a significant amount of interest and competition, and ultimately resulted in the sale to a local couple that will continue to steward the orchard in a way that is consistent with the seller’s original goals.
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