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4555 W Avenue G

Lancaster, CA 93536

$3,900,000

Airplane Hangar For Sale  •  69,720 Sq Ft

Property Details

  • Property Type Airplane Hangar
  • Total Building Size 69,720 Sq Ft
  • Lot Size 1.61 ac
  • Building Class C
  • Year Built 2007
  • Cap Rate 9.12 %
  • Zoning M
0 Transit Score
10 Walk Score

Description

Fox Field Hangers consists of approximately 69,700 square feet of aircraft hanger space in three (3) buildings. They are located on the grounds of William J. Fox Field at 4555 W. Avenue G in Lancaster, CA 93536. The airfield is owned and operated by the County of Los Angeles. There are over 52,000 general aviation takeoffs and landings a year at Fox Field. The airport is home to over 200  based aircraft. Fox Field has been operating since 1959. The Fox Field Hangers were constructed in 2007 with state of the art construction methods. The metal buildings offer a clear height of over twenty (20) feet which allows for virtually any type of general aviation aircraft to be stored on the premises. The buildings are widely separated by fully paved access ways that allow for easy access to each unit. The long term ground lease with the County of Los Angeles allows the operator to enjoy years of substantial return on their investment.

Highlights

Unique Investment Opportunity
Long-Term Ground Lease
Short Term leases allow for frequent rental adjustments
Tremendous cash on cash return based on 9%+ cap rate initial return

Financial Summary (Actual)

Net Operating Income: $355,817 (2017)
Cap Rate: 9.12 %
Total Expenses: $118,309

Public Transportation

Commuter RailDriveWalkDistance
Lancaster Commuter Rail (Antelope Valley Line) 9 min - 6.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 25
Type: Surface
Included in Rent: Yes
John Battle 818-223-4388 Lee & Associates
John Battle 818-223-4388 Lee & Associates