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    29502 Meridian Rd Hubbard, OR 97032

    For Sale
    $3,275,000

    Established Oregon Airport, strong lease income.

    Property size:
    85,695 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents Lenhardt Airpark, a thriving general aviation airport situated on 26.19 acres in Hubbard, Oregon (97032), at 29502 S Meridian Rd. Priced at $3,275,000, this special purpose property boasts a 3,200-foot runway and a total of over 75 hangars, 85,695 square feet in total. The airport is zoned EFU. Seventy hangars are currently under long-term leases, generating consistent rental income. Additional hangars are available on a month-to-month basis, offering further revenue potential. The property also includes a clubhouse, common areas fostering a strong community among aviation enthusiasts, and two acres of developable land. The sale price equates to $38.22 per square foot. This well-established airport presents a unique opportunity for an investor seeking a stable, income-producing asset within the aviation sector. The existing infrastructure and strong tenant base provide a solid foundation for continued growth and profitability. The airport's location in Clackamas County, Oregon, offers convenient access to the surrounding area.

    Property Features for 29502 Meridian Rd

    General Information

    Property type
    Airport retail
    Square Feet
    85,695 SF
    Lot Size
    1,140,836 SF

    HighLights

    • 26.19‑acre general aviation airport in Hubbard, OR.
    • 3,200‑foot runway.
    • $3,275,000 sale price.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lenhardt Airpark Airport P3 Sports LLC Mechanic

    Suggested Use

    Auto Repair Shop Kitchen & Bath Food Market Grocery Store Electrical Service Garden Center Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hubbard
    County
    Clackamas
    State
    Oregon
    Longitude
    -122.74732316596
    Latitude
    45.180002566457

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    FAQs

    What type of property is this?
    Airport retail - Established Oregon Airport, strong lease income.
    Where is this airport retail located?
    The property is located at 29502 Meridian Rd Hubbard, OR.
    What is the asking price?
    The asking price for this property is $3,275,000.
    What are key features of this property?
    This property features: 26.19-acre general aviation airport in Hubbard, OR.; 3,200-foot runway.; $3,275,000 sale price.
    (503) 370-2581
    Request Owner's contact information
    29502 Meridian Rd Hubbard, OR 97032
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    Hubbard, OR 97032
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    29502 Meridian Rd Hubbard, OR 97032
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