Details
| Property Type | Special Purpose | Sub Type | Airplane Hangar |
| Square Footage | 13,000 | Cap Rate | 8% |
| NOI | $151,671 | Occupancy | 100% |
| Tenancy | Single | Lease Type | NN |
| Lease Term | 5 | Lease Expiration | 08/31/2029 |
| Remaining Term | 3.1 | Rent Bumps | Yes |
| Lease Options | 5 year | Price per SqFt | $150 |
| Broker Co-Op | Yes | Year Built | 1997 |
| Buildings | 2 | Occupancy Date | 09/01/2024 |
| Ground Lease | Yes | Ceiling Height | 30′ |
Airport Hangar | Leased Investment | 13,000 SF
Marketing description
5975 Alpha Avenue is a leasehold investment opportunity located at the Reno-Stead Airport. The property is on an airport ground lease since 1997 and will be renewed, prior to close, on a 20-year ground lease with a 10-year renewal option. The building is currently leased to Tactical Air Support, which has three and a half (3.5) years remaining on its lease term, along with a five (5)-year renewal option. The lease includes 3% annual rent increases at the beginning of each calendar year.
Investment highlights
- 8% CAP
- NNN Lease Structure
- Four years remaining on the lease term with a five year renewal option.
- 3% annual increases
- long term ground lease on federal land
Valuation Metrics
Third-Party Listings Disclaimer
All commercial and investment properties shown are sourced from Crexi and are listed by third-party brokers, as indicated by the Broker Reciprocity logo. Lillian Wong provides buyer representation for these and similar commercial properties. Contact Lillian to schedule showings, request offering memoranda, or discuss investment strategy.
Information is supplied by listing brokers and other third parties and has not been verified. All pricing, property details, and availability are subject to change without notice. Interested buyers should contact Lillian directly to verify current status and arrange due diligence.
Source: Crexi. All listings represented by third-party brokers. Lillian Wong represents buyers in commercial transactions.
