For Sale SOLD! Hangar for Sale - Cobb County International (RYY) Atlanta GA

Flocker

Flocker

Line Up and Wait
Joined
May 24, 2013
Messages
711
Location
Peachtree City GA (KFFC)
Display Name
Display name:
Flocker
I have another hangar for sale at RYY! It measures 68' x 60'. The Bi-fold door has a height of 18.6' and a width of 65'. Walking distance to the FBO and Elevation Chophouse. Tesla EV chargers out front. Ground lease runs through 2038. PM me for details.
 
Last edited:
What’s the price tag on this?
 
Elevation Chophouse?!?!???
 
Flocker said:
I have another hangar for sale at RYY! It measures 68' x 60'. The Bi-fold door has a height of 18.6' and a width of 65'. Walking distance to the FBO and Elevation Chophouse. Tesla EV chargers out front. Ground lease runs through 2038. PM me for details. Check out our other aviation property listings at: www.flockrealtygroup.com
Click to expand...

Your link goes to Facebook, and the three lines on your website don’t open a drop-down menu on mobile. How much? Why the secret on aviation pricing? Ground lease ending 2038 is a bit of a concern though, plenty of airports have kicked tenants out at the end of a ground lease. Would be good to know if the airport is in talks to extend the lease, any options etc.
 
mandm said:
Your link goes to Facebook, and the three lines on your website don’t open a drop-down menu on mobile. How much? Why the secret on aviation pricing? Ground lease ending 2038 is a bit of a concern though, plenty of airports have kicked tenants out at the end of a ground lease. Would be good to know if the airport is in talks to extend the lease, any options etc.
Click to expand...

Thanks. I removed the link. Feel free to give me a call to discuss if you're interested in the hangar.
 
mandm said:
Your link goes to Facebook, and the three lines on your website don’t open a drop-down menu on mobile. How much? Why the secret on aviation pricing? Ground lease ending 2038 is a bit of a concern though, plenty of airports have kicked tenants out at the end of a ground lease. Would be good to know if the airport is in talks to extend the lease, any options etc.
Click to expand...
While I believe the terms and conditions of the POA classifieds require an asking price, it really is irrelevant in this case. He might as well list it at $1b. Hangar transaction prices vary based on the structure, location, length of term, airport development plans, the market, etc., so information collection on the asking price of ground lease a lease at one airport has no bearing on the selling price of a hangar at any other location...or for that matter, even that airport. The price will ultimately be determined by negotiation.

I'll further add, what a seller's indication of the airport management's intent on extending the lease is irrelevant. Short of a renegotiated lease in hand, you have to assume the property will revert to the airport sponsor at the time of termination. Reviewing the airport's approved ALP (airport layout plan), or looking at the lease terms of adjacent structures may give you some onsite, but airport commissions change, managers change, and ALP's change. There's no guarantees.
 
Brad Z said:
While I believe the terms and conditions of the POA classifieds require an asking price, it really is irrelevant in this case. He might as well list it at $1b. Hangar transaction prices vary based on the structure, location, length of term, airport development plans, the market, etc., so information collection on the asking price of ground lease a lease at one airport has no bearing on the selling price of a hangar at any other location...or for that matter, even that airport. The price will ultimately be determined by negotiation.

I'll further add, what a seller's indication of the airport management's intent on extending the lease is irrelevant. Short of a renegotiated lease in hand, you have to assume the property will revert to the airport sponsor at the time of termination. Reviewing the airport's approved ALP (airport layout plan), or looking at the lease terms of adjacent structures may give you some onsite, but airport commissions change, managers change, and ALP's change. There's no guarantees.
Click to expand...

You are right regards to the ground lease, I do like to see a price to satisfy my interest without jumping on a call wasting the sellers time, and I do keep abreast of hangar prices and ground lease terms at certain airports. If talks have begun regarding renewal of the ground lease, then I can make a note of that to keep an eye on that. Aviation moves slow but knowledge is built up having information over time.
 
With 15-16 years left on the lease, and no gurantees or options after that, this hangar which is about 4,080 sq feet is probably in the some big money, how about taxes, and the if there is an Assocation fee each year, it goes on and on when you buy a hangar, lot of unknowns other than it is for sale,

Since the OP is a realtor, why all the smoke? I would not buy that hangar knowing all the smoke being blown, OP won't say price but we will talk about it at lunch, go figure,
 
strangebird said:
With 15-16 years left on the lease, and no gurantees or options after that, this hangar which is about 4,080 sq feet is probably in the some big money, how about taxes, and the if there is an Assocation fee each year, it goes on and on when you buy a hangar, lot of unknowns other than it is for sale,

Since the OP is a realtor, why all the smoke? I would not buy that hangar knowing all the smoke being blown, OP won't say price but we will talk about it at lunch, go figure,
Click to expand...

I’ve noticed some Aviation brokers do that, I think they (generalist statement) do that because:

1) they don’t know the real market value (lack of research, simple)

2) they don’t want to establish a market offering (any offering online could be fake, but they don’t want to establish market prices for their products, probably because their clients who are selling are very emotional and the same product could be wildly different in prices between different sellers - however Cirrus appears to control the second hand market very closely by displaying prices)

3) they want to feel out the buyer and not lose a prospective lead (if you appear to have more money and an urgency start then the agent would start off at a higher price vs a well informed client)

4) they probably don’t have the product in their exclusive possession for the proposed sale (and they are worried another broker would advertise the same product for less)

I don’t prefer this style of doing business either, the broker believes through conversation they can establish rapport then make a deal, the agent/broker keeps as much data to themselves to improve the chances of an uninformed buyer coming their way. I consider it a very archaic way of doing business but each to their own.
 
I'm guessing that unless you take Jet A or want to start a business, it's a lot of of $$$. Prime location, both airport and Hangar itself. I were selling it, I'd be fishing for someone to ask about it, rather than subjecting a number to all of us who aren't remotely able to afford it to snipe at the numbers. Heck, everyone is doing that with no numbers...
 
If this hangar was at an airport where I was interested in owning a hangar, I would call and discuss it. I don't really see a problem, except to people that have no interest but are just curious.
 
Dave Theisen said:
As they say, if you have to ask, you can’t afford it. :)
Click to expand...

I hear this all the time and I get the gist of it but in reality I want to know the cost as I am always looking for a great deal.

There have been a few things that I wanted that I could readily afford but didn't buy because I could do better on the same thing somewhere else.

I'm one of those "a penny saved is a penny earned" kinda guys so I want to know the cost.

Smiley face noted! ;)
 
strangebird said:
Since the OP is a realtor, why all the smoke? I would not buy that hangar knowing all the smoke being blown, OP won't say price but we will talk about it at lunch, go figure,
Click to expand...

As long as he's buying lunch and you're under no obligation ... :dunno:
 
Daleandee said:
I hear this all the time and I get the gist of it but in reality I want to know the cost as I am always looking for a great deal.

There have been a few things that I wanted that I could readily afford but didn't buy because I could do better on the same thing somewhere else.

I'm one of those "a penny saved is a penny earned" kinda guys so I want to know the cost.

Smiley face noted! ;)
Click to expand...

Still doesn’t mean one should pay more than market price. A piece of art could cost $100, $5000, 50mil. Doesn’t matter you still have to ask to determine if the value is there for you, there’s always something that someone cannot afford.
 
Daleandee said:
I hear this all the time and I get the gist of it but in reality I want to know the cost as I am always looking for a great deal.

There have been a few things that I wanted that I could readily afford but didn't buy because I could do better on the same thing somewhere else.

I'm one of those "a penny saved is a penny earned" kinda guys so I want to know the cost.

Smiley face noted! ;)
Click to expand...
I've had a few things that I didn't think I could afford because I thought they cost way more than they really do. Like flight training and airplanes (at least until a couple years ago).
 
strangebird said:
With 15-16 years left on the lease, and no gurantees or options after that, this hangar which is about 4,080 sq feet is probably in the some big money, how about taxes, and the if there is an Assocation fee each year, it goes on and on when you buy a hangar, lot of unknowns other than it is for sale,

Since the OP is a realtor, why all the smoke? I would not buy that hangar knowing all the smoke being blown, OP won't say price but we will talk about it at lunch, go figure,
Click to expand...

As you mentioned above, there are more details to a hangar sale other than the price. I'd be happy to discuss the details with anyone that's interested.

PS - Price is listed at $1M.
 
Flocker said:
PS - Price is listed at $1M.
Click to expand...
Ok, now that wasn't hard, was it?
With that info, I wouldn't even have to bother you if the hangar was at my airport, unless I thought you might be willing to come down about a half mil.
 
JOhnH said:
Ok, now that wasn't hard, was it?
With that info, I wouldn't even have to bother you if the hangar was at my airport, unless I thought you might be willing to come down about a half mil.
Click to expand...

I guess we can all go for the free lunch? How about a PofA meetup at the hangar? Should be big enough to fit all of us. Does Morton’s cater?
 
MarkH said:
Thats a bit of an outdated quote. You don't get taxed on the money you save, so a penny saved is closer to 1.25 cents earned.
Click to expand...
That is also dated. A penny a couple of years ago is probably worth about 3/4 of a penny today.
 
MarkH said:
Thats a bit of an outdated quote. You don't get taxed on the money you save, so a penny saved is closer to 1.25 cents earned.
Click to expand...

My INT-1099 says otherwise.
 
JOhnH said:
That is also dated. A penny a couple of years ago is probably worth about 3/4 of a penny today.
Click to expand...
Net Present Value of a penny, minus taxes..........

1 Million? Didn't know I flew from such an upscale airport! :biggrin:

That would make a dandy place to store your Pilatus.
 
How much are the taxes (Cobb county is pricy), how much does the maid service and valet run each month?
 
WDD said:
How much are the taxes (Cobb county is pricy), how much does the maid service and valet run each month?
Click to expand...

Assuming the hangar is in the city of Kennesaw, the taxes on a $1M property will be about $16K/yr.
 
Hangar is still available. Owner has just reduced the price to $725K, but will entertain all reasonable offers. Feel free to PM me with any questions.
 
Flocker said:
Hangar is still available. Owner has just reduced the price to $725K, but will entertain all reasonable offers. Feel free to PM me with any questions.
Click to expand...

This one?

4fa137bb0bf14535a20dc9bbeacca0de_3000x2000_resize.jpg
 
You must log in or register to reply here.
Back
Top