Rice and Grain Storage Facility
6 and 1/2 ACRES with 12 Bins
600 Quitman Street - Sledge
Located 25 miles east of the Mississippi River, this newly-updated facility is especially convenient for transport to the river on Highway 315. The facility has been extensively reworked with two drive-over systems with 10” grain pumps for a total of 5,600/bushels per hour. The prior inefficient spider-style system was removed, and the new system has over three times the unloading speed of the previous one.
The entire property has been improved recently, and the only original parts remaining are the shells of the grain bins and the surrounding chain-link fence. All of the wiring and electric system has been overhauled with new panels, new breakers, and underground electricity. There are all new grain pumps, augers, floors, and stands --- 22 ½ degree pipe for unloading – multiple new doors – and almost all fans have been replaced or overhauled. The bins have 100% full for the current year and will hold 300,000 to 330,000 bushels at maximum capacity. All bins are rented, and total revenue is $113K per year gross, with space for additional bins and income. The seller is considering moving to a single tenant triple net lease in 2024.
Annual Taxes - $3,502
NOTE: Per our understanding from legal and accounting advisors, purchase before the year's end to take advantage of a huge depreciation tax write-off. (Please independently verify all tax information prior to purchase.)
Driving Directions: From I-55, take the Sardis exit heading west. Cross over Hwy 51 onto Hwy 315. Continue for 17 miles, crossing over Hwy 3, and then in about a mile, turn left onto Quitman Street. In 1/3 mile, the property will be on the left.
To begin the virtual tour, just click on a photo below, and scroll to the bottom of the page for the interactive map.