Commercial Property Management with Real Estate & Cell Tower For Sale
Description
Commercial Real Estate with a 240 foot Cell tower.Current leases for the building total 7 with a free office space for the owners. Annual revenues from the bldg leases are $35,000, which equates to $9.00 per ft pt per year(4320 ft occupied space). The general rate for this area is min $15.00 per ft per year up to $22.00 per ft per year. LOTS OF ROOM TO ADJUST THE RENTAL RATES UPWARD!!!!!
The Cell Tower constructed on the property is 240 ft high and is a steel structure. Currently there are 3 cell leases on the tower which is only 40% to 50 % of the capable number of cell carriers this tower can maintain. Current annual revenues from these cell tower leases are $101,000 per year. The location of this cell tower is critical as no more towers are allowed to be constructed in this area and the tower is next to a major university.
By adjusting the building leases to the local min of $15 per ft per year will add $26,000 more in lease revenues. NOW add 2 more cellular providers on the cell tower and another $5000 to $7000 a month is realistic for a total $86,000 t0 $100,000 more in annual revenues.
BEST OF ALL SELLERS WILL FINANCE UP TO 66% of the sale price for a strong buyer. There also exist $23,200 in revenues from some stored vehicles on the premises and motor oil sales which go with the business.
The real estate is 1.09 acres of prime commercial property and is part of the sales price. The cell tower leases are a marketable item separate from the real estate and can be sold as a separate asset by the buyer.
Independent Wireless Capital Firms have offered to purchase the lease contracts at present day value, using a 480 month(40 year), assignment term.
Included in asking price
Furniture / Fixtures and Inventory / Stoc included
Sales Revenue
159200
Net Profit
105000
Years Established
33 years
Employees
2 Full/1 Part
Trading Hours
Monday-Friday 7-5
Location
7,010 sq. ft. building
Support/Training
Seller will provide training
Reasons for Selling
Retirement
Finance Available
Seller will negotiate financing
Furniture/Fixtures Value
$10,000 (included in the asking price)
Inventory/Stock Value
$2,800 (included in the asking price)
Tenure
Freehold
Lease Terms
Included in sale price