Airport Aircraft
For Sale
$269,900
27474 HWY 84-PH #31, McGregor, TX 76657
CommercialSale, McGregor, TX
Property Size3,000 SF
Lot Size0.10 Acres
Price / SF$89.97
Days on Market47
Property Features for 27474 HWY 84-PH #31
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C
Subdivision
Bragg L Tract 31
Directions
Located just off of Hwy 84 going towards McGregor
Standard status
Active
APN
412767
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
BRAGG L Tract 31 IMP ONLY PH 31 (Land Acct 139705)
Tax Annual Amount
3150
Legal Description
BRAGG L Tract 31 IMP ONLY PH 31 (Land Acct 139705)
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
workshop space
shared fuel station
Building Details
Year built
2021
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
AluminumSiding
Roof type
Metal
Listing Agency:
Axio Real Estate LLC
(254) 776-8100
Listed By:
Elizabeth Bays · License #549775
(254) 405-0117
Added: Aug 11
Changed: Sep 7
Last Checked: Sep 26 at 4:06PM
MLS# 21356356
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2021, this aircraft hangar at McGregor Executive Airport occupies an individually surveyed leased lot and measures 50'D x 60'W. The building features a 45' x 14' hi-fold aircraft door, two 3' x 6' x 8' side entry doors, and an 8' x 8' rear rollup overhead door. Concrete flooring, a metal roof, LED ceiling lighting, exterior floodlights, and commercial-grade electrical outlets support aircraft storage and hands-on work.
The hangar is positioned next to the runway for convenient access to takeoffs and landings. Public water and sewer service are in place, with an individual water meter, exterior hose bib, and rough plumbing prepared for a future bathroom with shower, vanity, and toilet. A dedicated workshop area provides space for aircraft repairs or modifications, while ample parking serves users and guests. The property includes a renewable 35 year land lease option.
The hangar is positioned next to the runway for convenient access to takeoffs and landings. Public water and sewer service are in place, with an individual water meter, exterior hose bib, and rough plumbing prepared for a future bathroom with shower, vanity, and toilet. A dedicated workshop area provides space for aircraft repairs or modifications, while ample parking serves users and guests. The property includes a renewable 35 year land lease option.
Key Highlights
- 50'D x 60'W aircraft hangar built in 2021
- 45' x 14' hi‑fold aircraft access door
- Two 3' x 6' x 8' side doors and an 8' x 8' rear rollup door
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
$18,541
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
6.87%
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%
$370,820
$370.8K
Cap Rate 7%
$264,871
$264.9K
Cap Rate 9%
$206,011
$206.0K
Market Conditions
NOI Build-Up for 3,000 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
$23.3K $7.76/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$21.8K $7.27/SF
− OpEx
−$3.3K −$1.09/SF
NOI
$18.5K $6.18/SF
Area
McLennan County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
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%
$370,820
Cap Rate 7%
$264,871
Cap Rate 9%
$206,011
Alternative Uses
Best Use
Warehouse
$264.9K
$231.8K – $309.0K
NOI $18,541 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$37.37M
$32.70M – $43.60M
NOI $2,616,087 @ 7.0% cap · market cap 969.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 76657, TX
11,444
Population
4,775
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
94%
High-School Grad
138.7 sq mi
ZIP Area
83
Density / Sq Mi
$100,160
Median Household Income
$44,526
Median Earnings
$1,228
Median Rent
$367,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Runway-adjacent hangar with aircraft access, workshop space, public utilities, and a renewable land lease option.
Where is this aviation real estate located?
The property is located at 27474 HWY 84-PH #31 McGregor, TX.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 50'D x 60'W aircraft hangar built in 2021; 45' x 14' hi‑fold aircraft access door; Two 3' x 6' x 8' side doors and an 8' x 8' rear rollup door
