First thing - see your local Council. Find out what is allowed under the Town Plan (airstrip, minimum subdivision, number of sheds etc). Then decide what you want to do. To ask for something more than allowed, you will have to mount a case which will include Planners, application fees, studies etc = money!
Assuming you already have an approved airstrip on freehold land - you can go two ways. 1. subdivide airside land into house / hangar lots and sell the freehold. 2. Lease areas of land - you could build hangars and lease these or lease the land and let someone build (but you may have to carry the Council Building Approval process). My experience is that if the land is large enough to have an airstrip it is probably zoned Rural and not able to be subdivided below a certain size (200ha in our shire).
It might be worth sending Blackhawk a PM as he was involved in a Development Application to a Qld Council for an Airpark. One lesson from that was to do your homework, because even when it was approved, there were no buyers, so the owner didn't proceed with the works and the DA lapsed.
Probably simpler to apply to Council (if you have to) to build a few hangars and rent to users. You retain ownership of the land, can remove trouble makers, can adjust rent to suit etc. Make sure the airstrip and hangars comply with CAAP 92(1)(1) - that is width, distance from centreline etc. This is your insurance - if there is an accident on your private strip and someone wants to sue, the best defence is that it complies with the CASA safety standard. You will also need Public Liability Insurance and should insist that occupiers carry their own insurance (yours won't cover gear owned by them). You may be in the gun for any complaints about flying by them, people ringing the Airservices complaints line or Council, and that may end in restrictions on movements or changed circuit procedures. We've got a bloke with a noisy aircraft practicing for STOL competitions who has been moved on from 3 other airstrips and has now chosen to annoy our neighbours with very early morning low level constant movements. Think about how you will manage that.
Our Flying Club is on leased land, but there are restrictive conditions due to the ownership of the land (State Reserve - no residing, no commercial use etc). All buildings have to be approved by the Council, hangar owners pay a one-off fee to the Club for clearing & forming the Taxiway (Council only allow "as required" clearing) and pay an annual fee to cover Public Liability Insurance, maintenance. Owners don't have any rights to an area of land, but agree to keep the area around their hangar tidy. The agreement was tightened due to a couple of members not playing the game - so there is now a clause that if an owner breaches the lease conditions (after warnings etc) that the Club can take ownership of the hangar. In hindsight, the Club should have put these conditions in from the beginning, it would have saved 10 years of on-going grief. The Council's lease runs for 20 years and can be terminated by the giving of notice by either party, with 28 days to remove all improvements.
That's a start. If you can be more specific, we can give better experience.