Farm land value based on income

[Rob Golob]

I'd like to get some opinions on rented farm ground value based solely on "investment value" so to speak. CAP rate, I'd say? In other words, forget the prospect of it being in LA (presumably high value) or Wyoming (presumably low value.)

Income: $11,100/year (Effectively an evergreen lease with 100% assurance of payment)

CapEx: ZERO

Maitenence: ZERO

Taxes: $204/year

Insurance: $100/year

Appreciation since 2012 (Catch 22 situation - That's what I'm trying to determine.) Rock bottom = 5%/year.  Most likely = 8-10%/year.
Thanks in advance