Meyers Airport - 3TE
Special Purpose | 26,200 SqFt
Marketing description
The property is well-positioned to support a small-scale flight training program, utilizing industry-standard aircraft such as the Cessna 172 and similar light aircraft. This use establishes consistent daily activity and serves as the operational foundation of the airport.
Meyers Airport - 3TE is a specialty airport and testing ground located in Tecumseh, Michigan, offering 67.59 acres of aviation infrastructure with multiple revenue streams. The property features underutilized aviation infrastructure with limited revenue capture across existing uses and no fully integrated or optimized operating platform. A runway resurfacing is suggested to support long-term operations and growth, which will enable scaling of flight training operations, support increased aircraft activity and traffic, drive higher fuel sales volume, and provide necessary infrastructure for technology and mobility testing uses.
The property is positioned within Southeast Michigan's automotive and mobility innovation ecosystem, located 35 minutes to Ann Arbor, 45 minutes to Detroit Metro, and 60 minutes to downtown Detroit. The asset offers a unique opportunity as a specialty airport and testing ground with multiple stabilized income streams including hangar leasing, flight training operations, fuel sales, technology and mobility testing, and hay production.
Investment highlights
- Underutilized aviation infrastructure
- Limited revenue capture across existing uses
- No fully integrated or optimized operating platform
- Runway resurfacing suggested to support long-term operations and growth
- Enables scaling of flight training operations
- Supports increased aircraft activity and traffic
- Drives higher fuel sales volume
- Provides necessary infrastructure for technology and mobility testing uses
- Net Present Value: $1,575,000
- Year 1 NOI: $23,983
- Stabilized NOI: $245,705
- Hold Period: 5 Years
- Exit Reversion Cap Rate: 9.5%
- Revenue Scale: $820,000
- Future Value: $2,810,000
- Discount Rate: 14.0%
- Capital Improvement: $175,000 (re-asphalt runway)
- Hangar Leasing: $10K - $13K annually
- Flight Training Operations: $75K - $115K annual lease income
- Technology & Mobility Testing: $50K - $62K NOI
- Fuel Sales: Driven by flight training activity and based aircraft
- Hay Production: 50 acres leased for agricultural use, passive income with minimal expense burden
- Highest income per acre on the property from technology & mobility testing
- Scales with regional mobility & tech demand
- Positions asset within Ann Arbor / Detroit innovation corridor
- Strategic Location Within Mobility Corridor
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