Business for Sale Overview:
Commercial Real Estate with a 240 feet Cell tower.
Current leases for the building total 7 with a free office space for the owners. Annual revenues from the building leases are $35,000, which equates to $9 per feet per year (4,320 feet occupied space). The general rate for this area is min $15 per feet per year up to $22 per feet per year. Lots Of Room To Adjust The Rental Rates Upward!
The Cell Tower constructed on the property is 240 feet 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 feet per year will add $26,000 more in lease revenues. Now add 2 more cellular providers on the cell tower and another $5,000 to $7,000 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.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
7,010 square feet building included in sale price.
Reason for Selling:
Retirement
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.