Port-A-hangar, Whats it worth?

Dean

Dean

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Dean
There is a port-a-hangar (33x40) on a city owned lot at Joplin Regional for sale. It is insulated, heated and has a de-humidifier. Over all condition is pretty good. Asking price is $34K or best offer and the annual rent to the city is $750.00, is this a good deal or not? I can't find any prices online for the port-a-hangar.
 
What's the going rate on rental hangars? What is the term of the ground lease? Is it fixed for a period certain, or subject to escalators? Does the hangar revert to the city at the end of the ground lease (as is common with most leases?" If you buy the hangar now, what do you have to sell in five years?

Dean said:
There is a port-a-hangar (33x40) on a city owned lot at Joplin Regional for sale. It is insulated, heated and has a de-humidifier. Over all condition is pretty good. Asking price is $34K or best offer and the annual rent to the city is $750.00, is this a good deal or not? I can't find any prices online for the port-a-hangar.
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wabower said:
What's the going rate on rental hangars? What is the term of the ground lease? Is it fixed for a period certain, or subject to escalators? Does the hangar revert to the city at the end of the ground lease (as is common with most leases?" If you buy the hangar now, what do you have to sell in five years?
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Local rent is $200 a month, the rent for the port a hangar is for 99 yrs and the hangar remains the property of the owner. There is a waiting list for city owned hangars a mile long.
 
I used to own five port-a-ports. The value when I sold them was $5,000 each. They were 18 years old, 18 years ago.

The real question, with an insulated port-a-port, is does it have electricity?
 
bbchien said:
I used to own five port-a-ports. The value when I sold them was $5,000 each. They were 18 years old, 18 years ago.

The real question, with an insulated port-a-port, is does it have electricity?
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Yes, it does have electricity, lights, forced air propane heater with 500 gal tank.
 
Sounds like a decent deal, if demand is strong. What's the size of the pad? Can you demolish and replace with a real hangar at your option?
 
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