So I am absolutely brand new and dripping wet behind the ears regarding Billboards.
I'm looking at a smaller market I found what my gut is telling me is a hole in one/home run/gold nugget the size of a basketball.
I found a 15' wide X 40' long strip of land between a at the corner of a intersection consisting of two 4 land non divided roads. The high traffic count is 17,100, low is 10,600. I cant do a lease with the owner, I can only purchase.
I dont want to approach the local BB company who I would lease from to and risk tipping my hand to have it stolen out from under me, but I want to get an Idea of what to expect for income so I can underwrite the deal correctly. I will be using family cash 2500.00 and want mitigate risk.
I should add there is a rite-aid on one corner, Walgreen's on the other, McDonald's on the third and I cant make out what is on the fourth. Also very close is, Hardees, KFC, Big lots, verizon store, wafflehouse and more, with google earth showing major earth moving project very close at the time the pic was taken. The a fore mentioned cooperate stores and development are all with in .10-.25 miles of the site.
As I write this I almost know that I should pull the trigger and do it BUT what am I not seeing?
and that's a big but......
Assuming once I have title in hand I go straight to a leasing Company which would do all the permits/constriction etc. what other out of pocket expenses am I not seeing?
Thanks for your thoughts,
Chris from Delaware