Had a question about marketing land that might be best suited for some type of advertisement sign or Billboard.
I am in the process of purchasing three lots from an owner, basically for the price of two. The third lot was kind of thrown in as a bonus because it is smaller, close to the interstate, and has a power line easement on a small portion of it. So I thought about looking into creating some type of Advertisement sign/ billboard cash flow rather than just letting it go for dirt cheap.
Questions: Do I market this property through the same marketing channels Facebook, Zillow, Land sites ect...?
Should I call Advertising companies Like Lamar or Smaller companies in the area Direct?
Will I need to get Zoning Changed for the property?
Should I just try to sell to an Advertising company rather than rent the space if everything else checks out?
Questions: Do I market this property through the same marketing channels Facebook, Zillow, Land sites ect...?
Sure. Sounds like a good place to start.
Should I call Advertising companies Like Lamar or Smaller companies in the area Direct?
This would be the path to take if you don't want to build, own or manage the billboard in any way. These companies would handle all of the headaches, and in return, you'd get a small portion of the revenue each year, or possibly a flat rent amount, or some combination of the two.
Will I need to get Zoning Changed for the property?
Possibly. If it's zoned residential, and if you aren't willing/able to rezone it to commercial, this is usually the first big deal breaker for a billboard property.
Should I just try to sell to an Advertising company rather than rent the space if everything else checks out?
If it were me, I would probably start by calling one of these big companies (Lamar, Viacom, CBS Outdoor, Clear Channel, or whoever is in the area) and just get their thoughts on it. This is usually VERY informative, in my experience... if something about the property isn't ideal for a billboard, they can usually point this out for you pretty quickly.
You might find this review interesting (namely, the things I learned about the billboard business, which I hadn't realized before).