Sector Hub · 5 Property Types

Agricultural Real Estate Analytics.

Agricultural real estate covers farmland (row crops — corn, soybeans, wheat, cotton), vineyards (wine grape production), orchards (almonds, pistachios, walnuts, apples, citrus, stone fruit, pecans), agricultural land specialty (pasture, grazing, timberland, recreational hunting), and ski resorts. Performance is measured in yield per acre (varietal-specific), cash rent per acre, soil productivity index (CSR2 in Iowa, PI in Illinois), water cost (almond orchards need 4 acre-feet/year), and tree-age cohort distribution for permanent crops. Total return historically tracks 7-10% over rolling 10-year periods (cash yield 3-4% + appreciation 4-7%). Public REIT comparables include Gladstone Land (LAND — focused on permanent crops + organic farms), Farmland Partners (FPI — diversified row crop + permanent), Weyerhaeuser (WY — timberland), Rayonier (RYN — timberland), and Potlatch (PCH — timberland). Most institutional farmland is privately held — TIAA-CREF Center for Farmland Research, Hancock Agricultural, UBS Agrivest, Westchester Group. Ilora.ai ingests USDA NASS data, cash rent or crop share leases, yield history (APH), CSR2 / PI ratings, water-rights documentation, and AVA appellation status for vineyards.

Property Types: 5
KPIs Tracked: 14
Canonical KPIs: 7
AI Agents: 347

Property Types

5 property types in AGRICULTURAL.

Canonical KPIs

7 core KPIs anchor agricultural analysis.

NOINet Operating Income: Total revenue minus operating expenses (excludes financing and capital costs). The primary measure of property-level profitability.NOI = Revenue − Operating Expenses
Cap RateCapitalization Rate: Net Operating Income divided by current property value. Expresses unleveraged annual yield as a percentage.Cap Rate = NOI ÷ Property Value
Yield/AcYield Per Acre: Crop output per acre per harvest. The fundamental productivity measure for farmland.
Cash RentCash Rent Per Acre: Annual cash payment per acre under a fixed-rent lease. The dominant farmland income model.
Crop ShareCrop Share: Lease structure where landlord receives a percentage of crop revenue instead of cash rent.
PI / CSRSoil Productivity Index: State-specific scoring of soil productivity (e.g. CSR2 in Iowa, PI in Illinois). Drives valuation.

Common Questions

Frequently asked questions about agricultural real estate.

What property types does agricultural real estate include?

Farmland (row crops — corn, soy, wheat, cotton), vineyards, orchards (permanent tree crops), agricultural land specialty (pasture, timberland, hunting land), and ski resorts — six property types covering productive agricultural use across the US.

How is farmland value determined?

Farmland value is driven by soil productivity (CSR2 / PI), location (proximity to grain markets), cash rent capacity, and trend yield. High-quality Iowa / Illinois row crop trades at $10,000-15,000+ per acre; lower-productivity Plains states $2,000-5,000.

What is the difference between cash rent and crop share?

Cash Rent: tenant pays fixed annual rent regardless of yield or commodity price. Landlord has predictable income, no commodity exposure. Crop Share: landlord receives a percentage (25-50%) of harvested crop. Cash rent dominates Midwest farmland (~80%); crop share more common in tighter-margin areas.

Which REITs benchmark agricultural real estate?

Farmland: LAND (Gladstone Land — permanent crops focus), FPI (Farmland Partners — diversified). Timberland: WY (Weyerhaeuser — largest), RYN (Rayonier), PCH (Potlatch). Most premium vineyards + orchards remain privately held by family operators, ag PE, and integrated processors (Wonderful Company, Driscoll's).

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