Billboard Revenue Calculator

Billboard revenue varies $500–25,000+/month per face based on traffic and market.

Face count

Monthly revenue per face

Operating expense %

Ground lease monthly

Annual NOI

$54,000

Annual revenue

$84,000

Annual opex + lease

$30,000

How the math works

Revenue = faces × monthly × 12. Opex = revenue × opex % + lease. NOI = revenue − opex.

2 × $3,500 × 12 = $84k − ($25.2k + $4.8k) = $54k annual NOI.

How to Use

Enter face count.
Enter monthly revenue per face.
Enter operating expense %.
Enter ground lease monthly.
Read annual noi.

Frequently Asked Questions

Billboard economics?

Revenue/face/mo: rural traffic <30k DEC: $400–1,500. Suburban 30–80k DEC: $1,500–6,000. Urban high-traffic: $4,000–25,000+. Times Square: $50,000+. Static vs digital: digital 2–5x revenue but $250k–500k install vs $50k static. Operating cost: 25–40% (electric for digital, maintenance, insurance, lease, sales commission). Network cost: 8–12% of revenue (Lamar, Outfront, Clear Channel marketing/sales infrastructure). Permits: state DOT, FCC, hard to add new in many markets.

How does this asset class compare to traditional CRE?

Specialty assets (self-storage, RV parks, MHP, marinas, cold storage, data centers, parking, car wash, QSR/c-store, billboards, cell towers) typically offer higher cap rates than office/retail but with more operational complexity. They reward specialized operators with deep market knowledge. Lender pool is narrower, capital costs sometimes 50–150 bps higher, but downside resilience often better.

Capex and operational considerations?

Specialty assets often have heavier operational burden than passive triple-net retail. Self-storage, RV, MHP: tenant turn, security, basic upkeep. Marinas, parking, car wash: equipment-heavy with replacement reserves. Cold storage, data center: utilities are major cost. Billboards, cell towers: minimal opex, near-passive. Match management capacity to asset operational intensity.

Exit strategy?

Specialty asset cap rates have compressed significantly over last cycle but volatility is real. Buyers: REITs, private equity rollups, regional operators, 1031 buyers. Strong NOI history, environmental clarity (especially for car wash, gas station), and lease structure (for billboards, cell towers) drive valuation. Plan exit 24+ months in advance for best execution.