Fair Market Lease Value
by P. Vest
We are appraising a property in Louisa County Virginia and the site has a new cell tower on a 100' x 60' pad site. The lease is $700 per month for 99 years with 15% increases every 5 years. How do i find out what other towers are leasing at on a per month basis in the subject's county and possibly surrounding counties of Spotsylvania, Hanover, Orange, and Goochland.
Editor's Note: 99 years? Ouch, that is painful. How did you manage to negotiate that one?