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Thread: T - Hangar at Birchwood Airport for Sale

  1. #1

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    T - Hangar at Birchwood Airport for Sale

    What is a reasonable price for a T- Hangar at the Birchwood Airport?
    approximately 43 x 34 heated floor 35 year lease

  2. #2
    Speedo's Avatar
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    You can come up with a value (price) using the NPV formula in Excel. Use the monthly hangar rent (let's say it's $250/month) and the interest rate you'd expect to pay on a hangar loan (let's say 10%), and the number of payments (35 years x 12 months). The resulting value = $29,000.

    An equivalent way of thinking about this is to say "If I paid $250/month for 35 years, what would all those payments be worth in one lump sum in today's dollars."

    You can play with the formula by varying the monthly payment or the interest rate. This will allow you to model rental rates that might increase with time (for example, you could make the rental rate climb with the average inflation rate).

    I can send you a spreadsheet with all this stuff built into it, and you can play with the numbers. PM me if you're interested.
    Speedo

  3. #3
    Speedo's Avatar
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    Just for fun I plugged in a 3% annual increase on the hangar rent. When you factor that into the equation, the value of the hangar jumps to $38k in today's dollars.
    Speedo

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    A building built to todays codes for earthquake and wind is priceless when the wind is howling and planes are stuck in the fence like plastic shopping bags. My guess would be $40,000 and up for that area.

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    Ursa Major's Avatar
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    Try finding one in the Anchorage area for less than $80K. Good luck.
    Mike

  6. #6

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    I have seen several T hangers @ birchwood go for 80,000 to 100,000. I ran an add to rent space in a hanger a year ago and the best I found was sharing a box hanger (heated) for 500 a month.

    I bought a 42X47 box hanger for 132,000 and rent out space to a friend for his 12 and it costs me 500 a month + utilitys.

    Hangers are expensive at birchwood and they sell fast, when mine were built this last summer all 9 of them were sold before the broke ground.

    John
    72A
    Chugiak
    AK

  7. #7
    AK49's Avatar
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    Advertising removed
    Last edited by SJ; 10-24-2013 at 01:37 PM.

  8. #8

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    Do you know what the hangar climate is on Birchwood airport these days? I would like to buy a nice 40x40 hangar out there in the next few years (or what ever the largest hangar you can get is without going to the more elaborate roof design for say a 60x60). I am looking at a price point of about 100k, if birchwood is now out of that price range then I may have to look to having something built out at Wasilla, would be nice to have a hangar closer at birchwood but I also want to retire someday and own a modest home in anchorage near my work too lol.

  9. #9

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    Cost of metal, labor, concrete, etc: $XX,XXX - XXX,XXX.

    Cost avoidance of rebuilding one's cub: Priceless.

    Recently sold hangar in Anchorage on S end of 34 went for $160K.

    If you can get a hangar in B'wood for under $100, I'd say go for it.....but (after looking in B'wood, Palmer, Wasilla, Wolf Lake, ad infinitum), the value of a hangar that is relatively CLOSE to your home is as priceless as not having to rebuild your cub twice..

  10. #10

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    That's a good point, my plane is in a hangar now and found a few places scouring alaskas list and I think the going price is about 160-200k, the only problem is by the time I save up enough for a down on commercial real estate the prices can jump around so we will see if I can out save inflation lol, I will have to start an investment account and get some gold so the money I have saved can keep up with inflation.

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