Garage condos

We have a similar style here in houston, actually two different companies. I know one of them is doing quite well but I'm not sure if the cost per sqft. The other looks to be much more "fancy" but I have never seen it in person. I love the idea.


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i have looked at developing i like project.

have spoken with bruno up at the motorplex

what ya looking to do ?

 

We just had some pop up in Chesterfield. Prices and information here.

The Place in Chesterfield - Private Storage Condominium Suites for Active Use in St. Louis Chesterfield Valley

 

When I lived in Phoenix I was an early purchaser of a unit in a project called "Garage Town" which was only a few blocks from my home. There were different sizes and I had a 24'x48' unit. It was a great purchase and when I relocated east I had people lined up to buy it. The units had heat/air and had 16' ceilings so you could ad a mezzanine which was really nice (I had one installed). While not all units were used for car collecting storage the vast majority were and it made for a great group of people to interact with on a daily basis. We had a small club house that was available for all as well as really nice rest room/shower facilities. The security was also real good with each unit having its own system as well as a gated entrance with security cameras and the entire complex was sprinklered.

 

Oh big time! 20 years ago, two stripes and an oil stain in downtown Boston-Back Bay, old dense 19th century townhouses. Some more modern garages?

$175,000!

And an alley spot in the Back Bay the past couple years?

$500,000+ (high end) :O

 

In 2000, as an investment, I bought parking spaces in a 200+ unit dedicated condominium parking garage in Boaton for $20K per space. Each condo space is now worth over $200K. The monthly common charge is minimal, as are the real estate taxes, and they currently rent for $400/month per space. I'll likely sell the units when they hit $500K each. And being a parking space landlord is a great business model...nobody calls you in the middle of the night to have their space number repainted.

 

these are very cool: M1 Concourse
local here in Pontiac,MI

 

Wow! You've certainly hit a home run! Paid for itself in the first 5 years and brings in a yearly income of nearly $1 million. Congratulations.

 

I remember when this track was looking for initial investors and I was fresh out of school. At the time lifetime membership included a lot and was offered at a fraction of what they are charging now. I passed but looking back it was missed investment opportunity.

thethermalclub.com

For those that own - do any allow overnight stays ?

 

There is a perfect building in my small town sitting vacant for years to do a project like this. Puts on real estate development hat, lol.

Really a cool concept, hanging with like kind car fanatics and seeing other rides, perfect scene...any way to incorporate strippers into the business plan? Then it would be over the top!!

 

Jason -- what are the 2 in Houston?

 

There is Garage Oasis off of Louetta and then Garage Town in Spring. Both on the same side of town (basically). I'm surprised that they didn't open more towards downtown or midtown but I'm sure the land is WAY cheaper where they are at.


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I tried to get a hold of someone at the Louetta place to no avail
Did not know about the other one

 

AutoMotorPlex in Chanhassen, MN has deluxe car condos in various sizes. Some hold more than a dozen cars. Most have lofts with lounge areas. The Cars and Coffee events are held here as well. Great setup, but on the other side of town from us...