Airport (76g) for sale.

Capt. Geoffrey Thorpe

Capt. Geoffrey Thorpe

Touchdown! Greaser!
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Light and Sporty Guy
Marine City Airport can be had for a lousy $2.2 million. What are youse guys waiting for?

https://www.thetimesherald.com/stor...e-city-airport-market-2-2-million/3105467002/
"According to sale materials with Kramer Commercial Realty, the airport includes mechanical and repair services; two 10,000-gallon tank fueling stations; a 12,500-square-foot heated primary hangar building with a plane storage area, repair shop, mezzanine storage area, office and separate upper-level apartment; and another 3,624-square-foot, four-bedroom and 2.5-bath home and a nine-stall horse barn.

Realtor Korissa Wilkins said that also entails three hangar buildings and 32 tenants.

Also, according to sale materials, the property comes with office furniture and equipment, as well as heavy equipment, including tractors, backhoe, mower, and hardware and aircraft parts inventory. Airplanes are not included in the purchase price."
 
What if PoA, LLC had another fundraiser. It could get into the airport owning business.

2.2 isnt a bad price, could probably make a go at it for 1.75
 
I've seen worse airports listed for a lot more than that! It would cost more than that just to put in a paved runway, much less build the hangars, house, offices, etc.
 
But you'd have to live in Michigan. :eek: Rural Michigan. :eek::eek::eek:

;)
 
I think it would be cool,to be a part owner. POA could sell shares.
 
JOhnH said:
I have seen that to be true.
In July.
How many months out of the year can you actually fly a regular GA airplane up there?
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12. Not every day out of the 12 but even in winter there are a lot of flyable days.
 
So what are the revenue streams this thing would have?

$100k for hangar rent.
$20k for fuel
A cut from the flight school. Was the guy the CFI? Or did he just get a cut?
$Xk from the maintenance operation

Doesn't seem like much to keep it open and cover $2.2M of capital. Certainly fits the small fortune aviation joke. Am I missing other revenue streams here?
 
If this was in Texas, I’d be all over it. Of course it would cost 5 times as much here! I could walk away from my day job, run an airport, grow my photography business... wife says no way!! A guy can dream.
 
NealRomeoGolf said:
So what are the revenue streams this thing would have?

$100k for hangar rent.
$20k for fuel
A cut from the flight school. Was the guy the CFI? Or did he just get a cut?
$Xk from the maintenance operation

Doesn't seem like much to keep it open and cover $2.2M of capital. Certainly fits the small fortune aviation joke. Am I missing other revenue streams here?
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You would pay that much for the land where I live. It also has a house you could live in or rent, an apartment you could rent out, stables you could rent out, etc. It made enough that he had a staff working for him.
 
Lowflynjack said:
You would pay that much for the land where I live. It also has a house you could live in or rent, an apartment you could rent out, stables you could rent out, etc. It made enough that he had a staff working for him.
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It's in a lousy spot to attract much traffic, since it butts up against the Canadian border. Michigan pilots only, I would expect.
 
NealRomeoGolf said:
So what are the revenue streams this thing would have?

$100k for hangar rent.
$20k for fuel
A cut from the flight school. Was the guy the CFI? Or did he just get a cut?
$Xk from the maintenance operation

Doesn't seem like much to keep it open and cover $2.2M of capital. Certainly fits the small fortune aviation joke. Am I missing other revenue streams here?
Click to expand...
They call it "self-sufficient". Even if revenue-neutral it's interesting. And where the heck do you get a hangar for a hundred bucks?
 
Kenny Phillips said:
They call it "self-sufficient". Even if revenue-neutral it's interesting. And where the heck do you get a hangar for a hundred bucks?
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32 tenants x $300 x 12 months = $115,200

Was just guessing about the hangar rent. Might only be $200 a month. Mine in central IL is only $160 and there are way more people around than this place.
 
How much maintenance expense is there year round? Does the paved runway take much maintenance? How often?
Who cuts the grass? How much are things like property tax and insurance?

If Michigan was within my realm of possibility, I would be greatly intrigued. But if I took Leslie to Michigan, I couldn't afford the heating bills to keep that Florida Native comfortable 10 months a year.
 
NealRomeoGolf said:
So what are the revenue streams this thing would have?

$100k for hangar rent.
$20k for fuel
A cut from the flight school. Was the guy the CFI? Or did he just get a cut?
$Xk from the maintenance operation

Doesn't seem like much to keep it open and cover $2.2M of capital. Certainly fits the small fortune aviation joke. Am I missing other revenue streams here?
Click to expand...

100k in rent? Hahahaha. This aint the coast. Somewhere around half that. Those hangars are probably 150 or less. Well maybe 200 isnt so far off though either
 
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These numbers from AirNav are not super encouraging.

Airport Operational Statistics
Aircraft based on the field: 26
Single engine airplanes: 24
Multi engine airplanes: 2
1dot.gif

Aircraft operations: avg 22/day *
50% transient general aviation
50% local general aviation
* for 12-month period ending 31 December 2016
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Whoever buys it needs a way to get those daily ops numbers up.

There's also this:
There are no published instrument procedures at 76G.
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Adding an approach would make the airport more attractive to tenants.
 
NealRomeoGolf said:
Am I missing other revenue streams here?
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Grow hay during the summer.??

Small rectangle bales are selling for 8 buck around here, so it must be selling for more up north.

Or lease the available land to someone else to grow hay.
 
Location wise it is pretty much right on the direct route from east coast(NYC) to OshKosh. What are the international over flight rules again? If you are going to overfly Lake Erie and Michigan it is the first stop before/after the border for fuel. Can you just cross the border without any issue if you are not landing in Canada?
 
Matthew Rogers said:
Location wise it is pretty much right on the direct route from east coast(NYC) to OshKosh. What are the international over flight rules again? If you are going to overfly Lake Erie and Michigan it is the first stop before/after the border for fuel. Can you just cross the border without any issue if you are not landing in Canada?
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Yes, but I THINK you may have to be under Flight Following (or IFR).
 
To overfly Canada you have to be on a VFR Flight Plan in radio and radar contact or IFR. I've overflown Ontario a bunch.
 
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