Treasure Coast Paint Hangars at KFPR

Investment Overview

Chip’s Custom Painting, Inc. (“Chip’s”) is a specialized aircraft painting and refinishing business operating from two airside hangars at Treasure Coast International Airport (KFPR) under a long-term ground sublease with Fort Pierce FBO, LLC. The Premises at 3804 and 3824 St. Lucie Boulevard total approximately 27,159 (11,778 sqft and 15,381sqft) rentable square feet, Containing TWO hangars 9,600 and 12,000 with direct access to airport taxiways, runways, and shared parking areas, and are dedicated to aviation uses consistent with the airport’s Ground Master Lease. The ground sublease commenced upon County approval of the underlying Ground Master Lease and runs coterminous with the Landlord’s Second Amended and Restated Ground Lease with St. Lucie County, as amended, providing the buyer with a stable leasehold platform and the right to occupy and operate the existing improvements subject to customary consent requirements. Current base rent is approximately $3,096 dollars per month, with net rent adjustments as outlined in the sublease, resulting in a highly efficient occupancy cost relative to projected operating income. Lease active until 2058 with a 20 year option to extend. For the ramp-up period in Q3–Q4 2026 and the first full year 2027, management projects gross revenues of approximately 1.6 million and $3.225 million dollars, respectively, generating adjusted income (after add-backs for depreciation, amortization, owner’s salary, interest expense, and other normalizing adjustments) of approximately $544,125 dollars in 2026 and $1,088,250 dollars in 2027. These projections underpin an asking price of $9,000,000 dollars for the combined business and leasehold estate, reflecting both the earnings profile and the specialized nature of the paint hangar infrastructure. Chip’s Custom Painting, Inc. provides aircraft exterior painting and component refinishing services, with facilities configured to support both full-aircraft projects and high-quality finishing of control surfaces, panels, cabinetry, and upholstery-related components. The operation benefits from a dedicated airside location at Treasure Coast International Airport (formerly St. Lucie County International Airport), enabling efficient aircraft movement between hangars and the airfield and positioning the business to capture work from based and transient operators in a growing aviation market. The leasehold estate being offered consists of the tenant’s interest in the ground sublease for the Premises at 3804 and 3824 St. Lucie Boulevard and all improvements thereon, together with the going-concern business assets of Chip’s Custom Painting, Inc. Under the ground sublease, the tenant and its invitees have access to all public areas of the airport, non-exclusive rights to use parking areas, and rights of access to runways, taxiways, and other airport facilities, subject to airport rules and the Ground Master Lease. The Premises must be used for aviation purposes and in compliance with all applicable laws and regulations, preserving the aviation focus and protecting the integrity of the airport environment. On a financial basis, the offering contemplates adjusted income of approximately $1.1 million dollars in 2027 which, when capitalized at a strategic multiple appropriate for a niche aviation services platform with purpose-built paint infrastructure and favorable ground rent, supports total consideration in the range of approximately $9,000,000-dollar ask, a buyer is acquiring both a cash-flowing aviation services business and control of a rare, airside-configured paint facility at a growing Florida airport under a documented, assignable ground sublease structure.

Investment Highlights

• - Specialized aircraft painting and refinishing business with two airside hangars at Treasure Coast International Airport (KFPR).
• - Long-term ground sublease with Fort Pierce FBO, LLC covering approximately 27,159 (9,600 and 12,000 SQFT hangars) rentable square feet at 3804 and 3824 St. Lucie Boulevard.
• - Direct taxiway and runway access, with use of public airport areas and parking, supporting efficient aircraft movement and operations.
• - Premises dedicated to aviation uses under the Ground Master Lease, preserving on-airport, aviation-only positioning.
• - Current base ground rent of approximately $3,096 dollars per month plus sales tax, providing low, predictable occupancy cost.
• - Facilities configured for full-aircraft exterior painting and high-quality finishing of control surfaces, panels, cabinetry, and upholstery-related components.
• - Projected gross revenues of approximately $1.6 million dollars (Q3–Q4 2026 ramp) and $3,225,000 million dollars (full year 2027).
• - Projected adjusted income of approximately $544,125 dollars in 2026 and $1,088,250 dollars in 2027 after standard add-backs.
• - Asking price of $9,000,000 dollars for the combined business and leasehold estate, supported by earnings and specialized paint infrastructure.
• - Rare opportunity to acquire a cash-flowing aviation services business and a purpose-built, airside paint facility at a growing Florida airport under an assignable ground sublease.