Uh, $50,000 per acre would mean the bulk of the land was high value. I don’t know where you live but even prime Midwest farm ground only goes for an average of about $8-10,000 per acre. Unless a lot of this land is in high value settings, and I suspect it’s not, the average value per acre would be far less than $5,000 per acre. Probably more like $1-2,000 or less.
I live in an Ohio suburb. Extrapolating from my property tax statement, my land value is about $50,000 per acre. There is no way that some Nevada desert 5 miles from a paved road is worth that much.
Paying $50,000 per acre for desert wasteland or inaccessible wilderness sounds like something only the government would do.
I would say that your projected average valuation of $1-2,000 or less is far more accurate than the suggested $50k per acre.
I would say that your projected average valuation of $1-2,000 or less is far more accurate than the suggested $50k per acre.