29502 Meridian Rd Hubbard, OR 97032
- Airport retail
- 85,695 SF
- 26.19 lot acres
Current Use by Public Records
- Lenhardt Airpark / Airport
- P3 Sports LLC / Mechanic
Property Details for 29502 Meridian Rd
- Lot size
- 26.19 lot acres
- Property size
- 85,695 SF
- Property type
- Airport retail
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hubbard
- County
- Clackamas
- State
- Oregon
- Longitude
- -122.74732316596
- Latitude
- 45.180002566457
