Billboard Cap Rates and Multipliers

[Scott.A]

What are folks seeing for billboard cap rates and/or multipliers as of late?

The most recent info I had was from a case in 2018. Cap rates were running 9% to 11%, and multipliers were running about 6x to 9x.

 

[glenn walker]

Those numbers are not similar at all to ones in California-You may need to talk to local appraisers and commercial brokers because those are crazy high Cap Rates and Low GRMs in 2018 unless on class D or F type of properties. LOL

 

[George Hatch]

The brokers in this region who specialize in selling them seem to favor income multipliers. The last time I looked 8x - 9x were pretty common depending on location. But all RE is local so those might not be the numbers in your area.

When bundled with a retail or office use property they don't seem to affect the cap rates. But that's just what I've seen.