My choice is always “budget.” Save a little utility money and up front money, and get some flexibility: my shop is about 27x48 and packed to the rafters with 4 generations of who knows what. Air hose was never where I needed it. Soooo...
I ran 3/4” schedule 40 pvc everywhere in the rafters with I think 9 drops. The bottom of each drop is a sideways tee. It’s supplied from the top, and feeds out the side, with about a 6” (Or longer) drain leg below (like a gas line). I drill a pvc cap and install a tire valve/shrader valve pointing down, and use that to drain condensate before each use. I seated the valves with gutter seal. The long drop is for when you have to cut it off every 10 years to change the tire valve. All cheap and easy, one day. You have to do the prime and glue carefully and let it set a week, but indestructible after that.
I amazingly still have my 110v 1hp 1970s 10 gallon oil compressor. I supplemented it with a 20-gallon match I got on Craigslist for $30. I have a third in the wings for a spare (also $30). I have 2 propane tanks (surge tanks) inverted in the rafters on the long legs. I also ran a 3/8” line/tube though a conduit to the kitchen in the house with a lab-style gas valve in the sink.
I haven’t done it yet, But I’m in the process of moving both air compressors to a high shelf under the car port aside the garage. I’m thinking of building a fiberglass insulation-lined box, but I don’t like the current neighbor, so I’ll do that later.
Smaller compressor is set at about 95psi, and the bigger machine is set at about 85. Bigger one rarely runs, but I never run out. I wired both to an 8-hour mechanical timer switch (eBay) and I only twist up the time I need, so hence, I never forget to shut it off when I go to the house.
it’s all ugly, but works great! Hope it helps!