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Outdoor Billboard Real Property Valuation

Robert Thomas Helmer

The Valuation Journal, 2016, vol. 11, issue 1, 4-47

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.

JEL-codes: R33 G32 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:vaj:journl:v:11:y:2016:i:1:p:4-47