Value of older machine shed?

What would you say is the value of a machine shed?
Size: 40x70, built in 1975, decent condition, but 2 poles rotted, some side boards rotted, one door doesn t slide

Biggest problem: The nails start coming out, after 30 years, which leaves holes in the tin, then rain comes in and starts rotting the wood. Got an estimate to replace all the nails with screws with grommets for $1800, which seems high to me, plus $2000 to replace the track for doors. More to replace some loose boards.

I want to buy it to keep my tractor and machinery in, my brother wants to sell it, he doesn t have a need for it, doesn t want to spend money to fix it.

Location: North Missouri, Not near any large towns. Land is around $4000 an acre here.

What would you say a machine shed is worth, plus ground under it, and access rights to it? (No additional land)

Thank you!
mvphoto36835.jpg
 
Removing and replacing ALL nails with screws for 1800 seems a bit on the high side,
but not much. Fixing the door for 2k is too high, since the doors appear ok. It
seems odd that you are able to buy the shed and land under it with no road frontage
or severance....may be cheaper easier to have a long term rental agreement....

Ben
 
If you can see it from your place, about 10K with access rights in perpetuity. If you cannot see it, about 6K Jim
 
A 44 year old pole barn is near the end of its intended life. Tearing it down would decrease your brother's property taxes and allow him to farm the ground. You will need to offer at least enough to offset those two and put some extra money in your brother's pocket every year.

If you own the ground under the building would your brother be OK with you selling that ground and access rights in the future to an unknown third person? I would not be OK with that at all.

Would a lease arrangement work where you fix up the building to your likes and you also pay your brother some rent every year?
 
Well, in that it is to remain in situ, perhaps a lease agreement might be best (with access). The $1800 to replace the roof nails is not a bad price if you could get someone to warranty the work - a LOT of labor. The rest of the repairs sound like $1k to me (unseen). Best of luck.
 
(quoted from post at 21:37:50 05/28/19) What for a floor, if anything? Electricity access? Running water access?

The floor is dirt, now upgraded to loose hay, which I kinda like, no electricity, no water, although I can carry water from the hydrant nearby. Good questions, thanks!
 
I would probly just walk away. Unless bro wants to sale building, ground it's on, wich includes road access.
Otherwise, no thank you. Not putting money into something that's yours and you decide what to do with it later on,
after I have become dependant on the storage and went to all the trouble fixing it all up. A classic, family not
getting along anymore story to me. My 2 cents.
 
The machine shed on my first farm was about that age and the nails were backing out like you described. I bought a couple boxes of roofing screws and started replacing the nails that were missing and partially backed out. What I thought was going to take an hour or two ended up taking two full days and another box of screws. But the leaking roof no longer leaked and the "wind rattles" went away. With the tin properly secured with the screws the other nails quit backing out too. After I replaced several hundred nails with screws I also made it a point to keep the sliding doors shut - that eliminate the "lift" from the wind inside the shed.
 
Like it was said - if in sight, then I would do it if I could. Where in Northern Missouri? Are there any local Amish? They will work fast, and cheaper than "English"....
 
With farming being a break-even-at-best proposition for the forseeable future, being able to farm the whopping 1/10 acres under and immediately around the building isn't much of a bargaining chip.
 
I needed a new roof on the house and had to improvise till the weather allowed me to remove 2 layers of shingles and add new. Either Lowes or HD had a 5
gallon bucket of white rubberized goo for a hundred bucks that you mop on. Has a 10 year warranty as I recall. I applied it over asphalt roofing and over steel
roofing and it adheres nicely to both. I also recall seeing mobile home roof coatings commercially applied that may work for you and be a better solution and a
better price. If the wood is still structurally sound, I'd try it, even if some nails have worked their way out and are protruding...would still cover/seal them.
 

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