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Outdoor Billboard Real Property Valuation

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  • Robert Thomas HELMER

Abstract

The outdoor advertising industry has undergone significant transformation. New proprietary information is promoted and sponsored by an industry trade organization comprised of advertisers, agencies, and media companies. The number of effective impressions a billboard generates is a new media currency or unit of measurement. Access to meaningful information, however, has become more asymmetric and less available. The appraiser must be prepared to calculate the daily effective circulation and estimate adjustments for visibility. This article presents a hypothetical case study example to demonstrate how component values should be considered in appraising the undivided fee and/or unit value. The paucity of available data means components and lease interests must be considered in the valuation of the whole outdoor advertising real property.

Suggested Citation

  • Robert Thomas HELMER, 2016. "Outdoor Billboard Real Property Valuation," The Valuation Journal, The National Association of Authorized Romanian Valuers, vol. 11(1), pages 4-47.
    • Handle: RePEc:vaj:journl:v:11:y:2016:i:1:p:4-47
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    More about this item

    JEL classification:

    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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