A Market Rent Study of 28 General Aviation Hangars Owned by: City of Boulder City Located at: Boulder City Municipal Airport, 1201 Airport Road, Boulder City, Clark County, Nevada 89005 For the Purpose of: Developing an Opinion of a Market Rental Rate, as of June 2, Anderson Valuation Group, LLC 2020 P.O. Box 82197 Las Vegas, Nevada 89180 Date of Appraisal Report: (702) 307-0888 June 5, 2020
[email protected] File Number: 103-20 June 5, 2020 Mr. Brok Armantrout Contracts Real Estate Manager City of Boulder, Nevada 401 California Avenue Boulder City, NV 89005 Dear Mr. Armantrout: In compliance with your request and authorization, we have inspected the 28 general aviation hangars located within the Boulder City Airport at 1201 Airport Road, Boulder City, Nevada. The purpose of this report is to provide an estimate of an annual market rental rate for each of the individual hangars on a per square foot basis. The subject property can be identified as a portion of Parcel Number 186-201-01-007. This is a location in Zip Code 89005 and Census Tract Number 5501. Briefly, the general aviation hangars are located on Boulder City owned land and in a portion of the Boulder City Municipal Airport used primarily for private aircraft storage. Approximately 138 hangars have been constructed in this area and the location provides private aircraft with access and use of the main runways. The existing hangars are generally identified as pre-engineered metal buildings with sliding doors. Underground utilities have been extended to the units and the hangars are developed on reinforced concrete slabs.