Fee Simple Sale of Cell Tower Ground Lease

Special Purpose for Sale
Sale Pending/Contingent
Catylist Listing ID: 30035492
Status: Pending/Contingent
Building Size (RSF): 1 SF
Gross Building Area: See Agent
Gross Land Area: 1 Acre
Sale Price: $146,500
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 13.0%
Last Updated: 9/7/2017

Overview / Comments

Ground Lease
Absolute Net - Tenant pays all expenses.
Gross Rent Multiplier: 92.3
Capitalization Rate: 13%
Current lease term is in second extension through May 26, 2019
Tenant has two more extension options at 115% of previous term’s rental through May, 2029.

The subject is land leased for a cell phone tower on Beals Chapel Road in Lenoir City, TN. The site is hilly and steep, and located in a rural area near Ft. Loudon Lake. The leased area is 1 acre which includes a 10,000 sq. ft. level and fenced area on top of a hill as well as a paved access road/easement.

Sold As Is

Additional Details

Nearest MSA: Knoxville
County: Loudon
Taxing Authority: Loudon County
Tax ID/APN: 16-214.04
Zoning: R-1
Total Number of Buildings: 1
Number of Stories: 1
Zoning Description: R-1
Easements: Other
Land Ownership: Fee Simple

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 21,416 48,037
Median Age: 42.88 42.56
Households: 7,943 18,311
© Copyright Knoxville Area Association of REALTORS®. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.