Leesburg International Airport – Hangar Complex

This is a rare opportunity to acquire the leasehold interest in a 14,952 ±SF Class S twin-unit corporate hangar complex at Leesburg International Airport (KLEE) — one of Central Florida’s most active and capable general aviation airports. Constructed in 2015 to an original budget exceeding $5 million, this facility features two completely independent, mirror-image hangar units, each combining a 4,900 SF open-span hangar bay with an 18’ H × 60’ W electric sliding door and a fully appointed 2,576 SF mezzanine-level executive suite with three office, three bathrooms, a full kitchen, executive office / pilot lounge, and a private balcony overlooking the airfield. Both units are currently vacant and move-in ready, following approximately $397,000 in code-compliance upgrades and renovations completed in 2022–2023.

The combination of scale, quality, and flexibility makes this property stand out in Central Florida’s hangar-scarce market. Two fully self-contained units under one roof gives an owner multiple strategic options: occupy both sides for a larger corporate flight operation, use one and lease the other for operating income, or position the asset as a pure investment in a market with documented persistent waitlists for hangar space. The 18’ × 60’ doors accommodate a broad range of aircraft from business jets to large piston twins, and the executive office quarters above each bay make this a true ”lounge, work, fly” property.

THE AIRFIELD — KLEE, LEESBURG INTERNATIONAL AIRPORT

Leesburg International Airport (KLEE) is situated on more than 818 gross acres in Lake County, Central Florida. The airport operates multiple runways, including a 6,300-foot primary runway, a 4,957-foot crosswind runway, and a 15,000 × 2,000-foot seaplane water runway — accommodating everything from light sport aircraft to corporate jets and amphibious operations. The airport recorded approximately 107,000 aircraft operations and served approximately 127 based aircraft in 2023, with forecasts projecting continued growth through 2043. The FAA air traffic control tower operates daily from 7:00 AM to 9:00 PM (0700–2100 local); CTAF frequency is 119.35 when the tower is closed; ground control: 121.725. The airport maintains persistent hangar waiting lists — a clear signal of tight inventory and sustained demand for quality enclosed hangar space at KLEE.

HANGAR COMPLEX & IMPROVEMENTS

Total Building Area: 14,952 ±SF Gross (2 units of 7,476 SF each)

Year Built: 2015 | Building Class: S (Good to Excellent)

Structural System: Poured reinforced concrete footing and slab (~11’ of concrete base); pre-engineered metal insulated siding; engineered bar joist with insulated standing seam metal roof panels

Unit A — Ground Floor (4,900 SF):

  • Open-span aircraft hangar bay, polished concrete floor

  • Electric sliding hangar door: 18’ H × 60’ W

  • Grade-level vehicle access door

  • Central HVAC | Wet sprinkler + fire alarm system

Unit A — Mezzanine / 2nd Floor (2,576 SF):

  • 3 offices | 3 full bathrooms (walk-in storage closet)

  • Full gourmet kitchen with open lounging and dining area

  • Executive Office / Pilot Lounge with open view to hangar below

  • Private balcony with runway and airfield views

  • Ceramic tile, commercial carpet, and vinyl flooring

Unit B — Ground Floor (4,900 SF):

  • Open-span aircraft hangar bay, polished concrete floor

  • Electric sliding hangar door: 18’ H × 60’ W

  • Grade-level vehicle access door

  • Central HVAC | Wet sprinkler + fire alarm system

Unit B — Mezzanine / 2nd Floor (2,576 SF):

  • 3 offices | 3 full bathrooms

  • Full kitchen with open lounging and dining area

  • Executive Office/ Pilot Lounge (currently configured as executive office space)

  • Private balcony

  • Ceramic tile, commercial carpet, and vinyl flooring

Additional Specifications:

  • Clear height: 11–25 feet

  • Parking: space available on side of hangar

  • Lighting: Suspended and recessed fluorescent and incandescent throughout

  • Two private balconies (one per unit)

  • All mechanical systems in good condition; central HVAC per unit

GROUND LEASE STRUCTURE

This property is offered as a leasehold interest. The underlying 33,492 SF (0.77-acre) site is owned by the City of Leesburg and subject to a ground lease originally executed October 14, 2013, with a 30-year term expiring October 13, 2043. Under the ground lease structure, the tenant is responsible for all utilities, insurance, maintenance, and property taxes assessed against the leasehold. The current annual ground rent is approximately $7,530, with CPI-based escalations applied every two years — resulting in a projected terminal-year rent of approximately $9,825, a remarkably favorable cost structure for a 14,952 SF Class S facility. The lease includes an executed purchase option for the leasehold interest.

Interested buyers are encouraged to engage directly with the Leesburg International Airport regarding ground lease terms. Based on our conversations with airport management, there may be opportunity for an extended ground lease arrangement for a qualified new owner; however, any such terms would need to be confirmed and documented directly between the buyer and the airport authority.

LOCATION

  • Leesburg International Airport (KLEE), 8600 Airport Boulevard, Leesburg, Florida 34788

  • Lake County, Central Florida — within the Tampa-St. Petersburg-Clearwater FL MSA

  • Direct access from US Highway 441, a major north-south commercial corridor

  • Adjacent to The Villages, Lady Lake, Tavares, and Mount Dora — one of Florida’s fastest-growing residential corridors

  • Approximately 45 miles northwest of Orlando International Airport (KMCO)

  • Close proximity to Lake Square Mall, Home Depot, Lowe’s, and extensive retail/dining along US-441

  • Strong and growing regional market: 6.51% population growth within 3-mile radius since 2020; average household income above the national average