Land purchase and solar farm

[Mike Clark]

Hi. I’m trying to figure a fair value of this parcel of land…

92 acres in southwest Pennsylvania. Partially cleared farmland. Partially wooded. Next to electric power substation. There is already several offers from solar lease companies to lease a portion of the property. 
Offers range from 30k to 40k per year. Each year there is also a 2% escalator. They would also pay the taxes.  Lease would run from 20-40 years. Land in the area and similar size has recently sold for 5k/acre.