EFU Land Development

[Ethan West]

I just bought 40 Acres for one of my excavation businesses last month. With a conditional use permit my business is allowed on the property. The property is (3) minutes from Bend, Oregon which is a hot market at the moment. The property didn't have a road or easement to access the property and I bought it for $350K. The neighbor to my south has 20 Acres and bought his with access to highway for the same price. That same neighbor just granted me an easement if I improve the road which we just finished improving so I lucked out there.

I'm currently building a 100' x40' shop on the property. Septic was approved and is going in, Well is being shared with neighbor, Power is in next week. All in costs are around $750K. When Im done building and my business is moved over to this property we will be saving over $3K a month in leases on other commercial properties we rent to support this business so if nothing further comes out of this property Its a home-run.

My questions are

1.) How do I ensure I do not overbuild? Comp. properties with a 3,000 sqft houses and similar size shops but with 20 acres or less are $1.4m-$1.5m+ I was thinking I could build a nice 3,000 sqft home next year for around $450k with the employees I have to offset the costs of the things we can do in house. Can we get an appraiser to consult? Or would finding a broker be a better bet?

2.) If Im $350K in on raw land costs and another $300K in on a shop/utilities does that mean an appraisal would come in around $750K?

3.) Are their any known EFU/Farm lenders doing 80% Loans?