2171x Fm 1235, Merkel, TX 79536
sale
$205,000
|
Unimproved Land
Courtesy Of RE/MAX Big Country, Listed By Jordan Nichols
Income-producing telecom investment opportunity featuring a dedicated 75 x 75 fenced parcel with an active cellular tower site. Property is subject to an existing single-tenant ground lease with Tillman Infrastructure, a national telecommunications infrastructure provider.
Current rent is $900 per month ($10,800 annually) with contractual rent increases of eight percent (8%) at the commencement of each five-year extension term. The lease includes an initial ten (10) year term with multiple automatic renewal options totaling up to ninety (90) years. Tenant has 24-7 access and is responsible for utilities and expenses related to its improvements. Ownership responsibilities are minimal.
The tower site is a standalone, separately owned parcel and is not part of the surrounding acreage or nearby residential property. Property will be conveyed subject to the existing lease. Lease contains a Right of First Refusal in favor of the tenant. Buyer to independently verify all lease terms, income, and due diligence items.
Ideal opportunity for cash investors or 1031 exchange buyers seeking long-term, passive income backed by an established telecom tenant.
Current rent is $900 per month ($10,800 annually) with contractual rent increases of eight percent (8%) at the commencement of each five-year extension term. The lease includes an initial ten (10) year term with multiple automatic renewal options totaling up to ninety (90) years. Tenant has 24-7 access and is responsible for utilities and expenses related to its improvements. Ownership responsibilities are minimal.
The tower site is a standalone, separately owned parcel and is not part of the surrounding acreage or nearby residential property. Property will be conveyed subject to the existing lease. Lease contains a Right of First Refusal in favor of the tenant. Buyer to independently verify all lease terms, income, and due diligence items.
Ideal opportunity for cash investors or 1031 exchange buyers seeking long-term, passive income backed by an established telecom tenant.
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Property Features
- Architecture Style: Other
- Legal Description: A0073 SUR 147 GRIMES COUNTY SCHOOL, TRACT 29,
- MLSID: 21143639
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