American highways have attracted new business ideas since the 1920s. Many of these roadside attractions built billboards to let the motoring public know that they were there. And, over the years, many of these have failed and left behind some important assets that they don’t even know about.

When you drive down the highway, you see all kinds of billboard structures. You see a whole bunch of steel monopoles, and quite a few wooden telephone pole units. But you also see these steel I-beam structures – but not so many of them. Why does anyone even build these old-fashioned looking steel units?

So you’ve obtained the ground lease and permit to build a billboard, and you’ve decided to sell it to another billboard company rather than to go forward and build it yourself. It’s not an uncommon concept and one that I’ve done many times. But how do you come up with the price you’re asking?