Office Warehouse
Kestrel Air Park
210 Kestrel Dr, Spring Branch, TX 78070
Listing Price: $5,800,000
Investment Overview
Marcus & Millichap is pleased to offer for sale Aloha Aviation, multi-tenant aircraft hangar portfolio at Kestrel Airpark in the San Antonio MSA. The offering includes 6 hangars with 52 spaces, 17 hangars that are ground leased to 2082, a free standing hangar, an office, an automated 10,000 gallon fuel sales system and land to build 4 additional hangars. Given the limited hangar space availability in the San Antonio MSA, Kestrel Airpark has historically run at 100 percent occupancy and has a 50 + person wait list. Competing properties like Boerne Stage Field, Stinson Municipal Airport and New Braunfels Regional Airport have similar occupancy and waitlists if "for lease" hangar are even offered. With the high barriers to entry and the ability to construct 4 additional hangars, a buyer has the opportunity to acquire this rare offering below replacement costs and capitalize on the limited inventory for this product type and ride the rental escalation wave upwards.
Exclusively Listed By
Listing Price: $5,800,000
Investment Highlights
- For Lease Hangers are 100 Percent Occupied with 50+ Person Waiting List
- Limited Competition with High Barrier to Market Entry
- Automated Fueling System
Investment Overview
Marcus & Millichap is pleased to offer for sale Aloha Aviation, multi-tenant aircraft hangar portfolio at Kestrel Airpark in the San Antonio MSA. The offering includes 6 hangars with 52 spaces, 17 hangars that are ground leased to 2082, a free standing hangar, an office, an automated 10,000 gallon fuel sales system and land to build 4 additional hangars. Given the limited hangar space availability in the San Antonio MSA, Kestrel Airpark has historically run at 100 percent occupancy and has a 50 + person wait list. Competing properties like Boerne Stage Field, Stinson Municipal Airport and New Braunfels Regional Airport have similar occupancy and waitlists if "for lease" hangar are even offered. With the high barriers to entry and the ability to construct 4 additional hangars, a buyer has the opportunity to acquire this rare offering below replacement costs and capitalize on the limited inventory for this product type and ride the rental escalation wave upwards.
Exclusively Listed By
