Prescott Hangar Development for Sale

Description:

PRESCOTT HANGAR DEVELOPMENT FOR SALE! | 8% CAP RATE

For Sale: $2,800,000.00

2220 Melville | Prescott Airport | Prescott AZ 86301

Aviation Investment Opportunity
Located at the Prescott Airport (PRC), this multi-unit hangar complex was built in 2009. The facility sits on a City of Prescott long term ground lease good until October 2031 with (2) 10 year renewal options. The hangars and storage units are currently 100% occupied with strong demand, and a waiting list. PRC is a vibrant airport which is home to Embry Riddle Aeronautical University, and has more than 700 aircraft operations daily. The Airport is tower controlled with an ILS and other approaches as well as Full service FBO with Jet A & AvGas. Major Airframe and Powerplant Maintenance services are available on airport. Prescott is ranked as one of the top 5 places to retire in the US by Money Magazine.

PROPERTY HIGHLIGHTS

PHASE 1 HANGARS
+/- 71,520 SF Total | 3.9 Acres
43 Total Units
39 Box Hangars up to 60x60
4 Storage Units
8.0% Cap Rate

PHASE 2 VACANT LAND
Infrastructure in Place ($550,000)
Plans for 32 Hangar Units / Storage (Up to 70x70)
+/- 68,460 SF Planned Rentable Square Feet
3.37 Acres
Call or email to get a full investor package with financial Info!

PROPERTY CONTACT INFO

Larry Brow | Designated Broker
Mobile: 1.505.429.0039
Office: 1.480.535.4800
Email: larry.brow@edgeaz.com

Aron Brow | Senior Associate
Mobile: 1.602.750.2157
Office: 1.480.535.4800
Email: aron.brow@edgeaz.com