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 99% occupied. PRC is a vibrant airport 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 60’x60′ • 4 Storage Units • 8.0% Cap Rate PHASE 2 – VACANT LAND • Infrastructure in Place ($550,000) • Plans for 32 Hangar Units / Storage (Up to 70’x70′) • +/- 68,460 SF Planned Rentable Square Feet • 3.37 Acres • Call or email to get a full investor package with financial Info! Larry Brow 505-429-0039 or Aron Brow 602-750-2157