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I wouldn't say aliens per se. However I do think it houses objects found that we cannot explain.

Nothing. With all the attention that AREA 51 has had since it's inception I think it would foolish for the Government to still be hiding secret things there. If you were going to try and hide Alien technology then in my opinion Antarctica would be your best bet.

I think it's the government testing loads of different drugs to use in the black market.

Area 51 is, like most people said, a secret airbase. With that being said, there are probably rooms underneath containing experimental weapons and vehicles. I also threw the opinion out that they use it for biochemical research and if it comes to it, new ways of torture or helping the common soldier in the front lines. The reason Area 51 is so speculated is because of TV/Movies/Rumours. Yes there is E.T life out there but Hollywood portrays them as grey, big headed, bug eyed humanoid. We have found life on different planets but they are micro-animals. A MA similar to the Tardigrade was found on a different planet and that is considered life. So in my opinion, they only ET life in any secret base is bacteria.