Address: W 1400 S Street, I-15 Frontage Fillmore 84631
Approximate value $: 950,000.00
15.5 (+/-) acres with 5 Billboard Signs leased to YESCO Outdoor Media (www.yesco.com). A 120 year old company. The ground leases are currently in their 13th year. Leases go into perpetuity as per ground lease documents. Current annual income is $31,084.80 paid monthly at $2,590.40. There is an annual 2% increase each year on the anniversary date of September of each year. Value is based upon market value of 20 years income plus cost of land. CAP rate is 4.000%. Specifically "mailbox" money. True NNN. YESCO pays all taxes, insurance and maintenance to signs.
I am looking specifically for a home of equal value that is free and clear. I am not bound by geography. I can move anywhere. I am not looking for additional debt or "owner finance" of their property. I'm looking for straight across exchange. If there is a property that has a higher value and its free and clear, I would consider adding cash to the transaction. Please have current market values. Looking for a large estate with or without acreage.
I can add additional properties if necessary to balance the equity.
In exchange for House in Any state
Approximate value $ : 950,000.00 to $1,250,000.00
4,500 to 6,000 sq.ft. in size. 4-5 bedrooms with 4-5 bathrooms. 3 car garage.