A property owner in one of the most expensive parts of Maine who is giving away his picturesque farmland for free.
But as the saying goes, nothing is ever truly free, and there are a few snags to this real estate deal.
Firstly, the farmhouse and barn are not part of the sale and the property has no water or power.
The property’s owner, Mike Maher, purchased the 34-acre farm on Harpswell Neck Road in 2021 for $1.5 million with the intention of developing the seven-acre property into a business school and organic farm.
When his plans fell short, he decided to offer a free lease of 50 to 100 years in exchange for someone who could farm the land.
“I am a big supporter of small organic farms,” he told the newspaper Bangor daily news.
Maher’s vision was to create an organic farm with a mix of vegetables, animals and orchards. One of its unique features is that it is home to one of the state’s oldest apple trees.
The businessman, who is originally from Cumberland County and lives in Colorado, said he spends the summers on the farm and rents it out in the winter. Airbnb.
“I’ll always keep the farm,” he said.
He further explained, “I know it’s a weird situation.”
Mike Maher purchased the 34-acre waterfront ranch (circled in red) on Harpswell Neck Road in Maine for $1.5 million in 2021
Mike Maher’s original goal was to develop the seven hectare open land by opening a business school and an organic farming area
Maher acquired the sprawling 3,000-square-foot waterfront ranch after selling most of his San Francisco-based boutique clothing company to a private equity firm three years ago.
Local tax records put the land’s value at an estimated $1.36 million.
Today, acquiring land in Cumberland County is unfeasible because vacant land in the area is scarce.
According to the Maine MLS website, there are no other tracts of farmland available for sale or lease in Harpswell.
There has never been more of a challenge buying land in Maine, especially in the coastal region where Maher’s land is located, because of the high prices.
Many farmers even rent out their land, but no one has given it away for free.
Maine Farmland Trust first posted the offer on their website Facebook page on Saturday. The land can even be used for cannabis production.
One of its unique selling points is that it is home to one of the state’s oldest apple trees (photo)
During the winter, Maher rents out his property (photo) on Airbnb
Maher acquired the sprawling 3,000-square-foot waterfront ranch after selling most of his San Francisco-based boutique clothing company to a private equity firm three years ago
Local tax records put the value of the land at an assessed value of $1.36 million
Maher described the farm’s history on the Maine Farmlink Facebook page.
“The farmland has great soil (had tested it) but hasn’t been used as farmland in decades (at least 75),” he wrote.
“From the family I bought it from, it never looked like it was heavily remodeled. They probably once grazed a few cows and had vegetable gardens.’
“I would love to have a farmer who is interested in working the land with a mix of vegetables, animals and possibly orchards. Ideally organically regenerative, but at least according to organic practices.
“We also have the oldest Baldwin apple tree in the state of Maine, certified by MOFGA, on the property, so there is some apple heritage as well.
‘I am willing to lease the land for free on a very long term basis (think 50 years) to a competent farmer who is willing to make the improvements necessary to improve and cultivate the land.
He added in part, “I am also willing to help on the branding and marketing side of the business.
Since the post, Maher claims he has received five to six inquiries.
He said, ‘I don’t want to make any money from this. I just want to find a way to make sure this company is viable for the next generation.”
He believes the open land would be ideal for an established farm or provide space for a new one.
The new tenant would have to pay for drilling a well on the property and connecting electricity, the news channel reported.
Maher seems confident the land will go to the right person and does not believe the caveats will be a barrier to potential farmers.
“It just shows commitment,” he said, “a rare opportunity, even if it is complicated.”