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Info on leasing a hangar lot on a airport

Pilot135pd

Well Known Member
Looking for alternatives to help people move into the airport without the big expenditure of having to buy an acre outright plus then the building, septic, water well, etc...

I already have 6 apartments (1550 sq' 2 bedroom & 2 baths) without hangars (includes tie down area) with year to year leases.

These new ones could be long or short term rental hangars with apartments inside or long term rental clear space hangars with the option of you building it out with whatever you want inside.

The options I'm considering include leasing an acre, with or without water and power, or building some hangars (like they do with spec houses) and then either selling them with an acre or long term leasing them in smaller lots. It would make it easier for everyone compared to an airpark.

For you guys who have hangars at municipal airports, do you get a long term lease for the land and build your own hangar or do you buy the hangar already built?

What are the additional monthly costs to own it and what's typically included?

Anyone know where I can download a copy or willing to share a contract so I can get an idea of what it would entail to see if it's worth it or not?

I'm just trying to make it easier for people to enjoy the airport without simply giving away the property.
 
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Sounds like a great project!

Here at Seaside Municipal (56S) there is one 5 bay hangar building. Nice roomy box hangars with electric bifold doors, bathrooms, insulated, 300A electric, internet. Built by a retired airline pilot who got deposits first and sold the bays individually.

Per state law the 5 owners have a condo association and we assess ourselves for the costs and pay all but the taxes and electric as an association. Airport land lease is fixed at 50 years. Bays are bought and sold at whatever the market will bear. The 50 year fixed lease term is pretty long but not ideal as it doesn't extend when bays sell or have a provision for extensions, so the value just goes down year after year. Better would be a provision for say 10 year extensions negotiable or something. City wrote no residential use allowed into the land lease but I was able to get some favorable provisions into it including aircraft building restoring/maintenance as explicitly allowed uses.

Currently 3 of the five bays are RVers, the other two may be coming up for sale and if so I will be doing my best to find RVers and make it a 100% RV place :)

Our costs including insurance, water / sewer, internet, minor maintenance & property tax comes to about 1200 / yr per hangar.

PM me if you want to see the lease although it is geared more towards municipal / non residential than hangar community as you are doing.
 

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My hangar, one of a condominium hangar project with six in this building, was made long before I arrived at the city-owned airport. I own the building but have a 10 year ground lease. I pay county property tax for the building, annual rent to the city for the ground, and monthly power, water and sewer. The heating gas comes from one entity and the electricity, water and sewer come from the city. The interesting thing is that although I don't have to pay for the water since I have no hook-up, I still have to pay for the sewer system.

My ground lease includes the ground to the middle of the alley in back and the ramp to its mid-line. I also need to pay for insurance to protect the city; I choose to include coverage for my own property.

Dave
 
Last year I purchased one of eight T-hangars at KJVW that a couple of pilots purchased from the original owner and “condo’d” out to individual purchasers. The airport manager gave us new 35 year ground leases. I paid a lump sum for the hangar, then each year I pay an annual fee to the hangar owners association (consisting of the eight hangar owners) that covers the ground lease, electricity, and insurance on the structure - about $1100 total. For about 1/3 the cost of building a new T-hangar and less than $100 a month I have a private hangar on a lighted, paved airport with instrument approaches.

I am also a member of Central Mississippi Light Flyers (CMLF) that owns a grass strip, Harrell Field (MS08). Recently the club switched to a ground lease and sold some of the hangars it had acquired as the original builders passed away or gave up flying. The club website has some information on how that works. http://www.cmlfclub.com/hangars.html

BTW, still thinking about visiting your airfield but work has us under COVID-19 travel restrictions that don’t let me cross the Mississippi.
 
PM me if you want to see the lease although it is geared more towards municipal / non residential than hangar community as you are doing.

I definitely want to see that lease. I can get ideas from everything even if it doesn't apply directly. Thanks.

My ground lease includes the ground to the middle of the alley in back and the ramp to its mid-line. I also need to pay for insurance to protect the city; I choose to include coverage for my own property.
Dave

Thanks !

Recently the club switched to a ground lease and sold some of the hangars it had acquired as the original builders passed away or gave up flying. The club website has some information on how that works. http://www.cmlfclub.com/hangars.html

BTW, still thinking about visiting your airfield but work has us under COVID-19 travel restrictions that don’t let me cross the Mississippi.

Thanks I'll check out their site. I'm also waiting for the government to finally get COVID under control. Yesterday Gov Abbott opened up more facilities and his plan seems sound, but of course you give an inch and some Texans take 3 feet so we'll see what happens in 2 weeks if it gets better or worse. Fingers crossed ! Either way as soon as you can safely come over do it, I have 2 golf carts so we can drive around socially distanced and the "FBO" (our mancave, but don't tell my girlfriend ) is big enough for visitors to sit around and enjoy an afternoon safely and we can BBQ too.
 
Check out the AOPA Pilot article from March 2019 titled "Ground Control" by Jared Allen. Good information to ensure you don't overlook something in the lease contract.
 
I just sold my dads hanger at KJDD send me an email at N82RB at comcast.net and I will give you the details of the land lease with wood county.

bob burns
RV-4 N82RB
 
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