Land values after gravel removed?

[nwmn]

In our area there are quite a few gravel pits. What are land values typically on property that has gravel potential? Does the landowner typically make out pretty well if they contract it out to an excavating company? I know this varies by area, but are properties like this a good investment?

Also, do land values dip quite a bit once the gravel is removed and it sits idle as an abandoned pit? I would assume values drop as the income potential is gone from that resource. There is a property like this in our area that I believe has some good potential with some cool views, wondering if it'd fetch a lower than market price due to the fact that gravel has been extracted from it already.

Thoughts?

 

[SD51555]

Great topic. I also wonder what land is worth with a reclaimed pit on it. I wouldn't mind having my own fish pond, but I have to imagine, even with the gravel gone, a new fish pond would add value over a piece with no water on it at all.

Who knows?

 

[sandbur]

Our sportsman's club has 40 acres that is a former gravel pit. We have a club house, two ponds, trap range, bow, and various rifle ranges up to about 400 yards. We have rows of Norway pine planted around the perimeter. It has worked well.

 

[SD51555]

Our sportsman's club has 40 acres that is a former gravel pit. We have a club house, two ponds, trap range, bow, and various rifle ranges up to about 400 yards. We have rows of Norway pine planted around the perimeter. It has worked well.

Any clue how it compares in value without the reclaimed pits?

 

[sandbur]

I joined the Sportsman's club just a bit after they got the first ten acres. I doubt much reclaiming was done. Later some trees were planted as visual/sound barriers with some state help. I think. Two wet areas were cleaned out to make ponds for dog training. I am sure some dirt was rearranged when first purchased.

Price- I believe a bachelor farmer gave us the first ten acres in exchange for a lifetime membership and exclusive deer hunting privileges. He later sold us the other 30 acres at a very reasonable rate. He has the hunting rights and the range is closed for the 9 days of rifle season.

Most of the pits were in the first ten acres and it makes good berms and places to shoot without too much wind influence.