Billboard Details
- Purchase Method: Cash
- Media Type: Billboard
- View: Left-Hand
- Visibility: I-95 North
- Listing ID: 707260
- Posted On: Sep 22, 2016
- Updated On: Dec 27, 2016
Description
Strong Corporate Lease with Credit Tenant – Clear Channel
Outdoor Holdings, Inc. (NYSE: CCO) is an outdoor advertising
company that owns and operates advertising display faces
worldwide. As of December 2015, Clear Channel had reported
revenue of $2.77 billion and total assets of $6.36 billion with an S&P
Rating of B-.
Extremely High Traffic Counts - The average vehicles per day
passing the billboard is nearly 170,000 cars.
High Barrier to Entry Market – Broward County has no plans to
permit new billboards along I-95.
Excellent Interstate Visibility – The billboard provides excellent
visibility going both north and south on I-95.
Revenue Rent – The landlord receives 20% of the gross revenue
paid monthly as additional rent. Estimated to be $10,800 annually
based on past operating history.
Tax Free State – Florida has no state income tax.
Potential to Increase Rent – The lease has no options. This creates
an opportunity for an investor to increase the rent at the end of the
term.