Turnkey Aircraft Hangar in
For Sale
Contact for pricing
163 Reagan Ln, Eatonville, WA 98328
Functional aircraft hangar with customizable space for aviation or distribution.
Property Size2,505 SF
Price / SF$179.64
Days on Market141
Property Features for 163 Reagan Ln
General Information
Standard status
Active
Size
2,505 SF
Property subtype
Retail, Mixed Use, Special Purpose
Zoning
AP
Investment Type
Owner/User
Building Details
Year Built
2011
Buildings
1
Stories
1
Units
2
Listing Agency:
Better Properties Commercial Tacoma
(253) 380-5533
Listed By:
JR Poulsen · License #84023
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 5:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Better Properties Commercial Tacoma
Investment Insights
Based on property information with market context.
This turnkey aircraft hangar in Eatonville is designed for aviation or distribution/trade businesses. The property offers a blend of workspace, storage, and operational efficiency. The hangar provides approximately 40.5’ X 55’ of clear-span space, complemented by a 13’ X 42.5’ powered hangar door. It is suited for accommodating a variety of aircraft, equipment, and other business uses. With front and rear access, Cat 5 wiring, and gas heating, the space is well-suited for aviation services, maintenance operations, or a private base of business operations. The property includes adjacent customizable space, office space and client reception, workshop expansion, or additional storage. Existing improvements include an updated office and bathroom, multiple flat-screen TVs, upgraded LED lighting, gas heating, a fire suppression system, and an eight-camera security system. The restroom has room to add a shower, with washer/dryer hook-ups already installed. The property size is 2505 square feet.
Key Highlights
- Turnkey aircraft hangar designed for owner‑user with workspace, storage, and operational efficiency.
- Approximately 40.5’ X 55’ of clear‑span hangar space with a 13’ X 42.5’ powered hangar door.**
- Customizable adjacent space for office, client reception, workshop expansion, or additional storage.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,194
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$503,880
$503.9K
Cap Rate 7%
$359,914
$359.9K
Cap Rate 9%
$279,933
$279.9K
Market Conditions
NOI Build-Up for 2,505 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.1K $15.60/SF
− Vacancy
−$3.1K −$1.23/SF
EGI
$36.0K $14.37/SF
− OpEx
−$10.8K −$4.31/SF
NOI
$25.2K $10.06/SF
Area
Pierce County, WA
Vacancy
7.90%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$503,880
Cap Rate 7%
$359,914
Cap Rate 9%
$279,933
Alternative Uses
Best Use
Industrial
$359.9K
$314.9K – $419.9K
NOI $25,194 @ 7.0% cap · market cap 5.60%
Second Best
Flex RnD
$209.7K
$183.5K – $244.6K
NOI $14,676 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$676.6K
$592.0K – $789.3K
NOI $47,360 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 98328, WA
10,727
Population
4,309
Households
2.5
Avg Household Size
43
Median Age
19%
College-Educated
91%
High-School Grad
229.1 sq mi
ZIP Area
47
Density / Sq Mi
$113,902
Median Household Income
$56,050
Median Earnings
$1,211
Median Rent
$538,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Functional aircraft hangar with customizable space for aviation or distribution.
Where is this aviation real estate located?
The property is located at 163 Reagan Ln Eatonville, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Turnkey aircraft hangar designed for owner‑user with workspace, storage, and operational efficiency.; Approximately 40.5’ X 55’ of clear‑span hangar space with a 13’ X 42.5’ powered hangar door.**; Customizable adjacent space for office, client reception, workshop expansion, or additional storage.
