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Power line right of way- compensation

I’m working with a farmer neighbor hoping he will grant me right of way on his property so I can have overhead power lines installed to power my new construction home next door

The farmland is about 70 acres. Valued at approx $750,000. Vacant land with an outbuilding.

The right of way I need would be approx 30ft wide by about 400’ long through brush and some woods (would be cleared for electric poles to be installed and maintained by power co)

There’s approximately 1500’ or so of power lines already running through the property going to a couple other neighboring buildings and homes. I would just be looking to “build” a 400’ leg off existing lines

He’s a pretty fair guy. He’s asking if I have a compensation dollar amount in mind $$$

In no way would this impede his business, or privacy , or access to the property. Actually the right of way would run tight to the property line (in a no building “setback” zone anyway) I can’t see there being any real diminished value to the property.

I have no idea how much to offer…

Any suggestions? He would have to pay nothing obviously, nor would he need to upkeep the wires or even clear the vegetation around them. That being said I don’t want to lowball or offer some insultingly low amount. Help! Lol

submitted by /u/jkl123543
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/wb079e/power_line_right_of_way_compensation/
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