4045 Bonita Road, Bonita, CA, USA

Cell At Auction, LLC offers this unique opportunity to purchase perpetual easements for  Verizon, AT&T and T-Mobile rooftop site leases in the San Diego area.  

AT&T:  This lease was entered into in 1996 with GTE Mobilenet at an initial rent of $694 monthly for five years with a couple of renewal options and annual rent increases based on CPI.  Most recently the second amendment was entered into with a commencement date of October 1, 2011, for five years with five (5) additional five year extensions.   Starting October 1, the rent was set at $1,300 per month with 3% annual increases.   The current monthly rent is $1,799.50. 

T-Mobile:  This site lease was signed in August of 1996 and commenced on August 1, 1997.   The initial rent was $500 monthly for five years with two additional five year renewal options.   The annual rent increases was based on CPUI with a limit of no greater than 5%.   Subsequently there was a first, second, third, and lastly fourth amendment.   The fourth amendment provided a rent increase to $1100 monthly for five years with two additional five year options.   This commenced on May 1, 2011. Should T-Mobile renew this including these options, the rent will expire in 2026.   The current monthly rent is $2,213.  

Verizon:  This site lease was entered into on September 29, 2016, and is the most current of the leases.  The initial rent was $2750 monthly with 3% annual increases.   The initial term was for five years with an additional four (4) five year renewal terms.   There is a 3% annual rent increase.   This is the highest rent of the three current tenants.  The current monthly rent is $3,283.64.

TOTAL CURRENT ANNUAL REVENUE:  $87,563.

DISH:   Current talks are under way with representatives of DISH Wireless for a new rooftop site lease.   Offers may be submitted with a value predicated on a valuation of the final negotiated terms of this lease.  

In Cooperation with John E. Rapp  Rapp BRE Lic. # 01380453