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Aircraft Hangar Sales / Rents

Discussion in 'Commercial/Industrial Appraisals' started by JT1974, Oct 25, 2007.

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  1. JT1974

    JT1974 Senior Member

    0
    Dec 16, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    I am currently working on an appraisal of a proposed aircraft hangar in Madison, Wisconsin. The Hangar will be about 70 feet wide with an 18 foot clear height and used for repairs and maintenance (just big enough to fit my private jet in it). :rof:

    Does anyone here have any sales or lease rates for similar size hangars at smaller regional airports?
     
  2. SharperImage

    SharperImage Sophomore Member

    0
    Sep 14, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    hangersssssssssss

    Jason, contact the airports and talk to the airport managers. They'd know what was going on and what the rents are.
    I was doing some aerial photography yesterday and the airport I flew out of had a buy/sell board and I just glanced over it and thought I saw a hanger hanging on the board.

    SI
     
  3. Scott Lanz

    Scott Lanz Member

    0
    Dec 13, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Minnesota
    I am working on a hanger in Brainerd, Minnesota right now and am gathering data. I am willing to exchange data that I find.

    Scott J. Lanz
     
  4. JT1974

    JT1974 Senior Member

    0
    Dec 16, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    That's essentially my plan of attack. I don't really expect an overwhelming response to my request for hangar comps, but you just never know what you'll find if you don't ask. By the way, what do you fly? I have a shared ownership interest in a 1973 Piper Cherokee 180.
     
  5. ETex2

    ETex2 Sophomore Member

    0
    Dec 10, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Texas
    I did some multi-tenant T-hangar buildings in Mesquite, TX about 12-15 months ago and have some rental rates for those. I think they were going for about $125 to $150 per month for basic units to accomodate small private aircraft. Send me a PM if you need that data.
     
  6. Howard Klahr

    Howard Klahr Senior Member

    83
    Oct 4, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Just a quick search of Costar indicated that there were 9 airplane hanger transactions in their database for 2007. Loopnet has two transaction in WI reported to have occurred in 2006. Don't know if you want to spend the money or how helpful these transactions would be.

    However, I am looking for info on transctions of FBO's (Fixed Base Operations) in the event anyone has and data or leads
     
  7. SharperImage

    SharperImage Sophomore Member

    0
    Sep 14, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    Jason, I don't have a plane. The guy who flies me has a Cessna Skylane (I think its a Cessna, I know it is a Skylane), I just have to pay for fuel. We were up in the Warrens area and had to get clearance from Volk Field as we were in their airspace for Volk, Hardwood and Fort McCoy. While we were flying around up there, our radio went out, so it got a bit dicey and we cut the flight short.
    My pilot friend told me about flying up there a few years ago, before 9-11 when you really didn't need a lot of clearance...........as he was flying, all of a sudden two F-16 pulled up and he could actually see the rivets on the jets. They hit the gas and his plane shuddered and he said he almost pooped his pants.

    SI
     
  8. Christopher Tea

    Christopher Tea Sophomore Member

    0
    Aug 13, 2003
    Professional Status:
    Certified General Appraiser
    State:
    Georgia
    Got a couple of hangar transactions from 2006 in the Tampa/St. Petersburg Area, a bit far from you.

    Chris
    Tampa
     
  9. C. Kevin Bokoske MAI

    C. Kevin Bokoske MAI Junior Member

    0
    Jan 30, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
  10. JT1974

    JT1974 Senior Member

    0
    Dec 16, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    Thanks for the link Kevin. I found a decent rent comp on that site. I also printed everything in the Midwest to PDF's and I'll check with the sellers in the future to see what they got for their hangars. I seem to appraise a hangar once every two or three years and sales are hard to come by. However, they are out there if you dig deep enough.

    Take care,

    Jason
     
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