KSCO 10KW AM Station, KOMY 1KW AM Station, plus 3 FM Translators, plus broadcasting business at 2300 Portola Drive Santa Cruz, CA
Price: $1,500,000 Terms: Cash
Above may be sold separately or in conjunction with real property commonly known as 2300 Portola Drive Santa Cruz, CA 95062. Three separate parcels: 028-441-02, 028-441-03, and 028-174-01
Real property includes appropriately one acre of relatively flat land, approximately twelve acres of lagoon which feeds the Pacific Ocean, approximately 4400 square foot building, two car detached garage plus separate housing for 75KW diesel generator, concrete parking lot, concrete event patio, concrete patio surrounding buildings, concrete bomb shelter, three guyed, 232 foot broadcast towers in the fresh AND salt water lagoon (which gives the 10KW radio station the daytime coverage of a 50KW station on dry land), three guyed, well-maintained, 232 foot tall radio towers, plus one small, 60 foot auxiliary tower at front of building just to the right of the garage.
Price: $6,000,000 Terms: Cash
It MAY be possible to structure a deal whereby the station licenses are sold and the facilities including the transmission towers are retained and leased to buyer, but this may not be conducive to future development/improvement of real property as highest and best use - as the ability to dismantle the towers (a power only the owner of the station real estate would have) would be a major factor in receiving government approval for said development.
Fact 1 is, owning the real estate as well as the station business and licenses would be a no-brainer in that it would probably ensure that your investment would keep appreciating, as has been historically the case with businesses that own their own real estate. Plus there would be substantial monthly savings in rent (currently $15,000 per month for building, parking lot, event patio, garage, and towers).
Fact 2 is: this property is literally on "Silicon Beach" where Silicon Valley billionaires are buying out the millionaires, and nearby tiny beach bungalow homes on postage stamp lots are going for five million dollars cash immediately with multiple offers - the opportunity to own a Pacific Ocean-connected lagoon with three well-maintained broadcast towers (cost to build today would be in excess of $1 million each- IF EVEN POSSIBLE) with a unique, historic, operating heritage radio station that could and should be a tourist attraction for a total of $7.5 million is frankly, unbelievable!
Fact 3: given demonstrated comparable area real estate values, one way to look at this $7.5 million total deal is that the radio station licenses and business are essentially FREE, as the real property alone may well appraise for more than $7.5 million.
Interested parties should send email with qualifications and questions to Michael Zwerling, owner of KSCO Radio at firstname.lastname@example.org
do NOT contact me with unsolicited services or offers