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<p class="MsoNormal">I haven’t valued one separate from the land, but I think in concept it could be done by reducing the gross income stream over the remaining term of the lease to present value using a discount rate. I’m assuming that the lease has a termination
date and the leasing company is highly unlikely to go out of business so it’s virtually guaranteed income. Probably there are no landlord expenses either—no property taxes or repair/maintenance costs borne by the LL—so gross income stream might work. If there
are options to extend the lease term I think I’d want to talk to an appraiser about how to value the extensions. Even determining the discount rate probably needs an appraiser. I think the economy is so volatile these days it’s just a stab in the dark to project
very far into the future, so I’d rather have an appraiser make the stab than do it myself.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Sincerely,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Eric<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Eric C. Nelsen<o:p></o:p></p>
<p class="MsoNormal">Sayre Law Offices, PLLC<o:p></o:p></p>
<p class="MsoNormal">1417 31st Ave South<o:p></o:p></p>
<p class="MsoNormal">Seattle WA 98144-3909<o:p></o:p></p>
<p class="MsoNormal">206-625-0092<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:eric@sayrelawoffices.com"><span style="color:#0563C1">eric@sayrelawoffices.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="background:aqua;mso-highlight:aqua">Covid-19 Update -
</span></b>All attorneys are working remotely during regular business hours and are available via email and by phone. Videoconferencing also is available. Signing of estate planning documents can be completed and will be handled on a case-by-case basis. Please
direct mail and deliveries to the Seattle office.<o:p></o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Ken Luce<br>
<b>Sent:</b> Friday, April 9, 2021 9:20 AM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] Cell phone Tower in Estate<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Has anyone computed the value of a cell phone tower as an asset of an estate. It is on land owned by the deceased and pays a months fee.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif">Ken Luce<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif">Luce & Associates, P.S.<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif">4505 Pacific Hwy. E., Suite A<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif">Tacoma, WA 98424<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif">T: (253) 922-8724<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif">F: (253) 922-2802<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><a href="http://www.lucelawfirm.com/"><b><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue">www.LuceLawFirm.com</span></b></a><b><span style="font-size:8.0pt;font-family:"Arial",sans-serif">
</span></b><a href="https://www.facebook.com/pages/Luce-Kenney-Associates-PS/200703820101348"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:windowtext;text-decoration:none"><img border="0" width="24" height="24" style="width:.25in;height:.25in" id="Picture_x0020_1" src="cid:image001.gif@01D72D25.2F2431A0" alt="e943ecc8-5be2-4768-a17e-1b829b908afe"></span></b></a><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></b></p>
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