Does unused Cell Tower on property add value to the property when selling?
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[{"id": "htbmmoe", "text": "I don't have personal experience with cell towers, but if it's possible it could be used again that might add value. If it's in the way of new construction it could add demolition costs to any new developments. If it stays there it can just be a bit of an eyesore and in some people's minds decrease the desirability of the property.\n\nIs this a residence or a commercial property? How old are the other existing improvements and would a potential buyer consider removing and rebuilding them?", "replies": [{"id": "htbtjq5", "text": "It\u2019s on land zoned residential but has a business on the east and west sides, so I don\u2019t think anyone will want a home there. My mom is deaf so the noise never bothered her. The home is very old and not suitable for living it so must me demolished, it\u2019s very small.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htbmyjd", "text": "Do you own it? Is someone paying rent for it?", "replies": [{"id": "htbtl5q", "text": "Crown Castle owns it.", "replies": [{"id": "htcd15u", "text": "Then why aren\u2019t they paying?", "replies": [{"id": "htcykw4", "text": "The real question. They aren\u2019t paying they should come pick up their shit.", "replies": [{"id": "htd9dw3", "text": "Googling \u201chow to evict a giant chunk of steel\u201d right now", "replies": [{"id": "htdb3h7", "text": "Scrap metal", "replies": [], "depth": 6}], "depth": 5}, {"id": "hteqany", "text": "Probably have it in the lease that they don\u2019t have to. Or maybe they even have a carve out sale of that piece of land", "replies": [], "depth": 5}], "depth": 4}, {"id": "htd6w3q", "text": "I have no idea.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htbndsx", "text": "No. You need to get it leased.", "replies": [{"id": "htbtn8g", "text": "So it only adds value if it\u2019s being used?", "replies": [{"id": "htbup2b", "text": "That\u2019s the only way it brings in income. Otherwise it\u2019s just a big flag pole. Find out how to get some companies to add their equipment to it.\n\nEdit: nvm, you don\u2019t own it. But Crown Castle should be paying something to have the tower on the land since they own it?", "replies": [{"id": "htd7mhu", "text": "I thought they should be paying to use the land but what do I know.", "replies": [{"id": "hteq6op", "text": "Depends on the lease they signed with initial land owner", "replies": [{"id": "htmwe7h", "text": "My parents are the original land owner. They bought it in 1964.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "htc55u6", "text": "Yes, otherwise it\u2019s some one else\u2019s junk that they abandoned", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htbo3a1", "text": "Only if there\u2019s a contract to use it otherwise probably decreases value. Value would be determined by income", "replies": [{"id": "htbuf8t", "text": "Crown Castle owns it.", "replies": [{"id": "htbwom7", "text": "Is it on a ground lease?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htbo3e8", "text": "if it\u2019s not providing income it provides negative value bc it\u2019s limiting what and how much you can develop. plus someone\u2019s gotta pay taking it down unless you lease it for that use", "replies": [], "depth": 1}, {"id": "htbpwmr", "text": "You should get it leased.  $1k/month seems like the avg low depending greatly on location.  \n\nI had a building that brought in $10k/month because of it's height and location.  \nhttps://www.steelintheair.com/cell-tower-lease-rates/", "replies": [{"id": "htbqbx1", "text": "How did you get it leased? I have a company called Vertical Bridge who will be marketing our properties (no current towers on them) for a cut of the revenue should we get a contract. Any other companies worth reaching out to beyond the pray and wait for VZ to call me, which in all likelihood won\u2019t happen? Thank you!", "replies": [{"id": "htbxq6r", "text": "It's been a while, but I'm 75% sure that it was these guys:  https://www.crowncastle.com/tower-leases/  \n\nThis guys site is a little schlocky but worth a call https://towergenius.com/cell-tower-lease-rates/      \n\nI wouldn't pay a company to broker the deal.  5 or 10 calls, and if the spot is viable, you'll get an offer. \n\nWe inherited nextel, and then because of their ?consolidation? we ended up with another carrier, and then added a few more via some cold calls.  It also didn't hurt that the building was the tallest in the area, and had nearby infrastructure like fiber and whatnot.", "replies": [{"id": "htc1aet", "text": "One of the challenges is finding those 5-10 numbers to call\u2026 If I had those contacts (or knew where/how to find them) I would myself! Thank you for the comment!", "replies": [{"id": "hteq97m", "text": "Just google it. You want something like \u201cVerizon landlord portal\u201d \u2026every carrier has a web intake form to submit your property address.", "replies": [{"id": "hthm9q4", "text": "Great, thank you!", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htbql3s", "text": "And Crown Castle, American Tower, etc pay next to nothing for the lease. Especially if they know you're only other option is to spend big bucks to take it out. They have all the bargaining leverage", "replies": [{"id": "htbu7le", "text": "Crown Castle owns it. Mom sold the lease in 2011. She got $40k for 10 years. After that any tower use is split 60/40. The 10 years was up February 2021 but she\u2019s not getting any money now. We were planning to sell the 6.98 acres with the tower lease for $550k. It\u2019s right next to I-35, so great access for a business site.", "replies": [{"id": "htcmw7r", "text": "So 330 bucks per month? Hard to justify that measly amount when you extrapolate how much money they make off that tower from all the subscribers. And I wouldn't be surprised if the demolition bill is 20+", "replies": [{"id": "htd610j", "text": "It wasn\u2019t used those 10 years. It just sat there so it turned out to be the better deal.", "replies": [{"id": "hteqiww", "text": "Not bad. Sounds like you understand the situation. To a future owner, the tower is worthless or worth less than worthless bc the new owner has less freedom with the property.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htbvkmh", "text": "The tower will be a big negative if the land is being bought as a redevelopment opportunity. The cell tower leases are pretty ironclad, designed to prevent any disturbance or change in potential coverage to the tower. A lot depends on future intended uses, economic and zoning considerations in the area, and what the lease terms specifically are with Crown Castle.\n\nI dealt with this last year. Roughly 0.75 acres over 3 contiguous parcels, located within 100 yards of a light rail stop in a fast growing city. Redevelopment was clearly the best use, multi-family allowed at 7 stories. Crown Castle tower had 10 years left on a 30-year lease, buyer of the properties worked out some big concessions with CC to pay for relocation costs etc. and it realistically lowered the land value $500k. Lots of legal overhead and unknown future project delays.", "replies": [], "depth": 1}, {"id": "htc09ad", "text": "Easement or lease on it is going to hurt value as well. depending on what the restrictions are", "replies": [], "depth": 1}, {"id": "htciqu3", "text": "You need to provide answers to at least the following:\n\n\\- Who owns the land the tower sits on?\n\n\\- Who owns the tower?\n\n\\- How does one gain access to the tower for servicing? (i.e. who owns the road leading to the tower, who owns the land on top of the cabling, utilities, etc?)", "replies": [{"id": "htd6g52", "text": "My mother ownes the land.\nCrown Castle owns the tower. \nThey have a small area fenced off with access from the road. The tower is right next to the road. \nThat\u2019s all I can answer for you.", "replies": [{"id": "htdh8yh", "text": "If you want to sell the property, I think you'll get the best pricing without the tower (i.e. unencumbered).  Otherwise, expect a discount to asking price (if you placed some premium for having a tower or priced it as a simple vacant land).  \n\nYou'll need to read up on the agreement between your mom and crown to see how you can go about terminating the agreement (maybe there's right to recapture/terminate language for abandonment/non-use or something).  Buyer will want the document too.  \n\nIf crown is no longer interested in keeping/operating the tower, you'll most likely need to memorialize this in an agreement as well as determine who is responsible for tower/infrastructure removal/any potential environmental issues.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "htdjcpv", "text": "I would get it leased; there are professionals out there that will review the site and tell you the fair market rent. Any rent you receive; will dramatically increase the value of the property.", "replies": [], "depth": 1}, {"id": "htdti9w", "text": "Yes. Potential income.", "replies": [], "depth": 1}, {"id": "htdwc6g", "text": "Do what feels right, thats what gives you your own unique sound.", "replies": [], "depth": 1}, {"id": "hte98b4", "text": "Find the original contract.  I guarantee it states that if it sits vacant for \\_\\_\\_\\_ months, the lease is invalid. (Meaning...you can release it if it's viable).", "replies": [{"id": "htec1cs", "text": "I actually found the document.  It\u2019s like reading another language, I can\u2019t understand any of it.", "replies": [{"id": "htecg14", "text": "I know *exactly* what you're saying.  I found a legal firm online that specializes in that sort of thing, paid them a grand to ELI5 for me.  Worth the money.\n\nI don't recall the name of the firm but there are several out there.\n\nSuper small type, lots of legal jargon....very much designed to fuck with your head.\n\nPay the man.  It's worth the price.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "huose6r", "text": "It adds value to whoever leases the cell tower first.", "replies": [], "depth": 1}, {"id": "hvggt1j", "text": "With 5g cellphone coverage, many more radios/antennas need to be put up, than with prior technologies.\n\nSomeone may want to lease space on that tower, if you gain ownership of it.\n\n (I didn't understand if you own it now or not, reading the comments.)\n\nThese groups might be interested:\nCellphone providers\nPrivate 5g /CBRS providers\nHam radio clubs\nOwners of Helium radio network hotspots\nPublic service radio providers (fire, police etc)", "replies": [{"id": "hvgh6ka", "text": "Perhaps post on r/HeliumNetwork, \"Anyone interested in leasing space on an abandoned cellphone tower in &lt;your city&gt;?", "replies": [], "depth": 2}, {"id": "hvghrar", "text": "And perhaps post on r/FreedomFi (a place where \"private 5g providers\" are figuring how to grow their business). FreedomFi is one brand of a 5g unit.\n\nHope these suggestions help.", "replies": [], "depth": 2}], "depth": 1}]