Airspace / Airspace Agreements

Airspace is one of the "bundle of rights" that comes with a fee ownership interest in land.  While many people never consider the value of the above ground area, it can at times be a valuable interest.  For example, some properties have seen the construction of bridge type structures over highways that took advantage of airspace rights.  Railroads, airports and other transportation related owners often buy and sell airspace rights. When airspace rights are lost due to the close proximity of airports the true value of the rights become apparent.

Appraisers consider the value of airspace agreements, which are often just leases for above-ground ares, by taking into consideration their affect on the entire fee interest.  The result is often expressed as a percentage of the whole (or 100% interest).

Contact us with your questions or concerns regarding airspace or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net.  

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.