I’m looking at building a 12x24 sign on a 4 lane road that had a little over 25,000 of daily traffic per day back in 2005. There wasn’t any data for the years after, but knowing this what is the range of rent I would be able to get with this sign? Any help would be greatly appreciated!
Call billboard companies that are in your market. Especially if they are empty and get a quote.
Call every advertiser in your market and ask how much they are paying. You may be surprised how willingly they give those numbers out.
You could also call landowners of billboards in your market. If land owner has a contract with billboard company where they get a share of the revenue, then you can figure out the rent from that.
Thanks for the info Mark. What if there aren’t any billboards in a few miles of the area? How am I supposed to comp if the closest road is a nearby highway where the traffic count is much larger?
You could call larger companies like Lamar or CBS - give them traffic count and ask for how much it costs to advertise in markets with your traffic count.
This will not be apples to apples comparison, because demographics will be different, but it’s something to work with.
Signs outside of a few miles would still be a good starting point… Goto Lamar’s interactive rate card …Your rents may be more or less then what they are showing but this is also a good starting point. From my research, the large companies shoot for a CPM of 2-4$
DEC Calculator here http://www.signvalue.com/dec.html
CPM Calculator here http://www.clickz.com/cpm-calculator
Thanks for the help!