Tucson, AZ · Member since 2015 · 56 posts · 15 votes
I had a wholesaler I have not heard from before send me a deal, not much in the way of details, for a shutdown self-storage unit in a rural southern area. Looks like it needs a lot of work to get it up and running so I'm thinking it's a pass for me. But then, I was looking at the google maps photos and it appears there is a large cell tower within the property lines. I was wondering how these lease agreements are usually structured as to how I can pencil it into the math I'm running on looking at the buildings.
Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
6y
@Michael Zagorsky
If he’s actually been assigned the deal he would have some info on that or could get from Ownership. The cell tower company likely has a legal easement on the property which is something you’ll have to continue to allow. Undervalued self storage can be a great value add project, maybe go in the deal with an experienced self storage operator & improver.
Investor · Bentonville, AR · Member since 2014 · 759 posts · 379 votes
6y
@Michael Zagorsky or consider that the owner took a lump sum from the cell tower buyer and doesn’t own the land/tower anymore and it’s just a giant easement that you have to account for.
@Michael Zagorsky or consider that the owner took a lump sum from the cell tower buyer and doesn’t own the land/tower anymore and it’s just a giant easement that you have to account for.
Yeap, I did some more digging and that's what it is. Oh well, going to pass on this deal.