The subject property is 55.8 acres. The sale is subject to tenants rights and crop rights. The parcel contains 3 interstate billboard display signs. The land owner has negotiated a long term lease for the display signs expiring December 2028. Annual rental income from display signs is $8,554. There is a annual rent escalator of 3% in the lease agreement. Lessor may terminate the sign lease upon 60 day written notice. The land is cash rented for $14,229 per year. The ground lease may be terminated if the lessor gives the lessee sixty days notice prior to the expiration of the annual lease term ending on December 31, of each year. This property was annexed into the City of Troy on 9/29/2016.
|Listing Type||For Sale|
|Days On Site||1151|