Hangar Trader - Buy, sell or rent hangars

 

HangarTrader.com

10,000-sf Hangar for Sale (Newark, OH)

Expired

$ 1,200,000.00

Sale Newark-Heath Airport, Heath, OH

Description

The space includes 10,000-sf hangar and 1,000-sf office/conference room on ~2.4 acres. Includes private parking, AC staging area, direct/private runway access, 14-ft drive-in door, shower & restroom facilities, and two outdoor storage spaces. Facility is fully surveilled and very well-maintained.
 
Current owner stores his Malibu Matrix in the hangar and rents out the other spaces to local aviators. You can fit 6-8 singles if you had a mix of high and low-wing aircraft in the 100'x100' box. Owner currently charges $350/mo, each tenant is month-to-month. Tenants would happily continue to store their aircraft in the space to provide a new owner with operational income. Lease rates can be renegotiated by new ownership.
 
Owner is asking $1.2MM. Land is leased through the KVTA airport authority, 30 years for $30, 25 years is left on the lease. Owner is leasing the land through an LLC. The LLC's only assets are the hangar and land lease. Transaction would involve purchasing the LLC to assume the land and subleasing rights afforded to the LLC via lease language. The LLC has never had employees or payroll, so there would be no additional tax liabilities involved in the LLC purchase.
 
I can provide hangar financials, rents, and a copy of the land lease agreement upon request. Let me know if you have any further questions or comments.
 

Ad details

Ad ID : 15975
Date Posted : 09-27-2023
7 months, 25 days ago
Sale
537 Views

Contact Information

Evan Vega
614-705-0799
evan@gofortynorth.com

Add comment

 

Contact form

What's wrong with this ad?

Sorry, you need to register or login first.

Add to favourites

Sorry, you need to register or login first.

Search Options