Cell tower on property

[BRCJR]

There is no lease available to read, this is an REO and the lender or asset manager know nothing of the specifics

Can one provide credible results without knowing anything about the lease agreement?
Can you do a HC the tower does not exist?

 

[TerryRohrer]

There is no lease available to read, this is an REO and the lender or asset manager know nothing of the specifics

It would be rare when agreements that impact property rights are not recorded.

 

[George Hatch]

Without any documentation you don't even know for sure if the cell tower is part of the property rights being appraised. It most likely is still part of those property rights but in lieu of information to that issue all you can do is make an assumption.

These cell leases can get pretty cagey, like including clauses that allow for early exit by the lessee, allowing subleases with other carriers by the lessee and all sorts of other shenanigans. The leases I've seen usually consist of a series of 5yr lease options, meaning the lessee can just stop renewing at any option point.

The market for these things is not super stable, either. Carriers get merged and acquired out of existence, towers get rendered obsolete via redundancy, the technology itself constantly evolves.

This ain't like dusting crops - you can't just wing it by the seat of your pants. I don't do these without seeing the entire lease itself.

 

[Fernando]

Are you worry the cell tower may cause radiation problems to tenants and immediate nearby occupants?

 

[mp2277]

Are you worry the cell tower may cause radiation problems to tenants and immediate nearby occupants?

If so they can file their complaint from their cell phone

 

[Fernando]

I remember a commercial property around here for sale and had a cell tower.
It had good income but I was worried of liability issues as a property owner.
I'm bias against radiation towers.
I was going to take this order and then I realized it was near electrical transformer site.
I asked myself if I could be unbiased.......and I said I could.
Hesitated and thought too long and order was taken by another appraiser. Well, that's one less order to worry about.

 

[J Grant]

I need the financials, how much income is generated to the property owner for tower rent

If it went into foreclosure, the income could not have been much. just saying.

If the lender does not have a lease copy for the tower and the info is not searchable, you can do the appraisal without any contribution from the cell phone and tell the truth, no info was found, and if the celll tower has a lease or other terms whether plus or minus wrt income or other issues, it could change the outcome of the appraisal.

Where is it on the property, an eyesore or not, condition, etc

 

[Terrel L. Shields]

No one has any financial details and no way to obtain them.

here is no lease available to read, this is an REO

First - ID the actual owner of the tower. Towers here must have an emergency number and name on the tower. If currently leased the lender slash owner should have some info as to who is paying the rent and how much. If the site is entirely in someone else's name, then it is not part of the estate being appraised. The REO docs should mention the tower. Deed check time.

Someone has a copy of the lease and if recorded it is in the name of a prior owner. But otherwise, find a tower where you do know the rents. Then it becomes a proxy for the property tower. So, you find out Fred Freckle's getting $300 a month lease. Do a GIM or GRM multiplier. Apply.

This is one and the amount of the lease can be found by asking the ASP or the landowner.

 

[Surf Cat]

This is a vacant REO. No one has any financial details and no way to obtain them.

Interesting case....

Here's what a quick ask to AI revealed.

Online tools like AntennaSearch.com, which can help locate towers and provide details about their owners and tenants.
The most authoritative source is the Federal Communications Commission (FCC) database, specifically the ASR (Antenna Structure Registration) system, where you can search by the tower’s registration number, location, or latitude/longitude coordinates.
This database includes information on tower ownership and can reveal which carriers lease space on the site.

 

[JTip]

What does the CG, who would be signing the report, say about the cell tower?

Terry is right, there is something recorded.