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Car storage facility, part deux

Discussion in 'Texas' started by WDR328, Jul 19, 2005.

  1. WDR328

    WDR328 Formula 3

    Dec 11, 2003
    1,473
    The Bugscuffle Inn
    Full Name:
    D. Rose
    Allright gentlemen it is time to bring up this subject again. If you will remember there was quite a bit of interest in this subject just prior to the Canadian GP and then it kind of died out. Well I am bringing it up again, because in my assidious scouring of the N.W. quadrant of the Dallas area (35 & 635) I have located a building. It is not on the market, because it is very close to being foreclosed on. The current bank will handle the financing, the building can be bought for what is owed against it. The price is about 30% under current market prices in that area. I know the owner, so I have an inside lane. The gross square footage is 30K feet and the building needs work, probably 100K, most of that is a new roof. Fenced outside storage and basically a building attached to a building. If anyone is interested PM me for additional details. I frankly do not have the financial wherewithall to do the whole deal myself, so I need a couple of people to share the risk. So here is a great location as far as people in Plano to Grapevine would be concerned and probably farther out, if you don't mind a little drive. We all posted at some length, now is anybody REALLY interested?
     
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  3. mgtr1990

    mgtr1990 Formula 3

    Mar 30, 2005
    1,580
    Naples Florida
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    Martin Graham
    As the one who started the previous thread I am still interested but as was stated distance is very important I am in Southlake and 20 mins is ok but not any further I still think that a group of owners paying a subsidesed rate and the balance being charged at a higher rate to the non owners. A concept of Detailing area and club area still makes sense to me.
     
  4. Manny

    Manny Formula Junior

    May 21, 2004
    854
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    Manuel
    Don check your PM's
     
  5. 98R648

    98R648 Formula Junior

    Sep 25, 2004
    322
    Full Name:
    Nicola Cappelletti
    I'm interested.

    I have actually been think of getting property in the country, say east texas on a few acres and build a metal building with a lift in it. The distance is not much of an issue for me because if I go to get the car it's for a track event or if I'm working on it, more than likely either will be an all day event. If anyone is interest in doing something like this let me know.
     
  6. TAHOECRS

    TAHOECRS Rookie

    Nov 10, 2003
    43
    DALLAS TX
    Full Name:
    CHAD STEVENS
    Wow I saw the title but never clicked until just now. I need to get my dad in contact with one of yall. He has a Building right down the street from LOD. It is 10,000 sq feet inside and there is addition 10,000 paved outside. He bought for a family friend to move into as a auto repair facility. My dad got it for an investment about 4 years ago. The "friend" has to this date not moved in, he uses it as storage. I think inside is about 10,000sqft with about 1000 sqft being office space. This is kinda of a sore subject for me becuase the shocker is that the "friend has not paid a dime to my father!" there has been about 15k spent by the friend on insulating the inside and new overhead doors have been bought but not hung. The reason why I mention this is because it does not look like the "friend" will be able to afford to pay anything to my father for the building and might be moving to Iowa. With what yall are looking for and where, we might be able to help each other out. I do not know how much sq feet yall are looking for but this could be a start. I do not know what my father spent on the building and he has been to busy dealing with other situations to sit down and figure out what he wants or needs to do with the building but when I see him next I could pass the message along that there would be a interest in the building.
     
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  8. jimpo1

    jimpo1 Two Time F1 World Champ
    Silver Subscribed Owner

    Jul 30, 2001
    22,502
    Dallas, TX
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    Jim E
    Both of those buildings sound perfect from a 'central location' perspective. Even the guys in Southlake should be able to get there in 20-25 minutes if they don't try it in rush hour.

    If only I had cars to store and one less house.
     
  9. mgtr1990

    mgtr1990 Formula 3

    Mar 30, 2005
    1,580
    Naples Florida
    Full Name:
    Martin Graham
    Assuming that the buildings either dont work or the financial issues are to large to overcome I am still looking for a place to store my TR either in Southlake/Grapevive/Kellar anyone know of a good safe location?
     
  10. JasonMiller

    JasonMiller F1 Rookie
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    Jul 16, 2004
    3,294
    Co Springs/ Texas
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    Jason Miller
    #8 JasonMiller, Oct 18, 2005
    Last edited by a moderator: Sep 7, 2017
    I want your "Opinion" on this. If you want to flame go elsewhere!


    I have a contract on this warehouse. It’s off of I30 and hwy 121 in Fort Worth. Between Beach street and Riverside dr. The area is nice, mostly industrial but a little residential scattered. I have investigated the residential and its mostly older homeowners with maybe 10% rentals. The area is safe being north of I30.

    The other businesses in the area are construction related, some trucking, warehouse and auto related businesses. Its approx 1.2 miles from I30 and 1.0 miles from 121.

    I have put together a car storage deal with individual and group storage available. I would build a lounge inside and cover all exterior windows. The interior is well lighted with large doors. I would also put a fence around the whole property with secured access for outside storage.

    I have a price on installing a computer server with cameras throughout the property that can be accessed 24 hours a day from the internet as well as send an alarm anytime the building is accessed to your phone, PDA or email so you can log on and see who is there.


    OK, I understand that nobody from Dallas would probably be interested in this location and that’s Ok, I can market clubs here in the Fort Worth area.

    Would $150.00 per car per month be fair? My break even point after purchase and installation of security system will be $2,100.00 per month.

    Thanks,
    J




    I will probably purchase the building for construction storage anyway but wanted to see if it would work out for auto storage.
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  11. jimpo1

    jimpo1 Two Time F1 World Champ
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    Jul 30, 2001
    22,502
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    Jim E
    Dude. Sweet. I want to come play in your warehouse!
     
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  13. JasonMiller

    JasonMiller F1 Rookie
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    Jul 16, 2004
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    You could even store a house in here :)
     
  14. rob lay

    rob lay Administrator
    Staff Member Admin Social Subscribed Miami 2018 Owner

    Dec 1, 2000
    51,777
    Southlake, TX
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    Rob Lay
    Add a lift and air to make this a place of storage and minor maintenance, then I think $150 would be very fair and people like the Greg's and I know several racers would be VERY interested.
     
  15. Chris Taylor

    Chris Taylor Karting

    Aug 11, 2004
    122
    Elroy, TX
    I get $175/mo in Austin for a ~15x25 with electricity, compressed air, and security. I also have a bunch of tools and whatnot available... if you're serious you might look into that as well. Welders and other equipment are fun to have around and you can write it off. :)
     
  16. Schatten

    Schatten F1 World Champ
    Rossa Subscribed Owner

    Apr 3, 2001
    11,237
    Austin, TX
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    Randy
    In addition to Rob's comments - room for car/trailer, hours of operation. Insurance liability regarding damage to other cars while one car is being moved/entered and possible theft.

    Looks like a good idea Jason.
     
  17. JasonMiller

    JasonMiller F1 Rookie
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    Jul 16, 2004
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    Jason Miller

    The building has air compressors and even a paint booth, I also have a welder and tools I would gladly keep down there. I would build in a lounge area on the second floor with a downtown view with sleeping areas and kitchen.
     
  18. JasonMiller

    JasonMiller F1 Rookie
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    Jul 16, 2004
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    There is plenty of room for trailers to be stored, Its hard to have hours of operation becasue there will be some people that like to work on there cars at night some during the day. Everyone can see whats going on at anytime via the internet.

    I need to check on insurance, that may be pretty expensive,,, Farmer Dave, what do you think?
     
  19. jimpo1

    jimpo1 Two Time F1 World Champ
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    Jul 30, 2001
    22,502
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    Jim E
    It sounds like FerrariChat party central! I can donate a window A/C unit!
     
  20. FarmerDave

    FarmerDave F1 World Champ
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    Jul 26, 2004
    15,167
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    IgnoranteWest
    I think it will be expensive. How's that for an answer? :D :D :D

    Primarily, with regard to insuring the cars, you should require all tenants to carry their own insurance coverage on their cars, so that in the event cars are damaged or stolen, the primary coverage will be the owner's responsibility.

    As long as a tenant/car owner discloses to his insurance co. where the car is being stored, there won't be any issues. In fact, the classic car insurance companies don't even bat an eyelid as long as the location has 4 walls, a roof, is secure and access is limited, And you've notified them and sent pictures of the facility where it will be stored.

    Primary responsibility should fall upon the person who did the damage, but if it's not clear who did the damage, that could be an issue. The security cameras and limited access should help (some) when it comes to liability insurance.

    You'd want to carry a GL policy, especially if you will have people operating lifts and stuff. A garage keepers liability poicy, most likely. It will all depend on how you set it up. Is it a business with one owner (you)? Would you set it up as a car club that leases the building? Lots of questions to ask, and the questions will lead to more questions. We can talk about it this weekend some more.

    Chris Taylor, what do you do about insurance? PM me or Jason if you'd rather not answer publicly.
     
  21. FarmerDave

    FarmerDave F1 World Champ
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    Jul 26, 2004
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    IgnoranteWest
    I'll buy the first keg.
     
  22. GrigioGuy

    GrigioGuy Splenda Daddy
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    Nov 26, 2001
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    Dindu Nuffin

    Great....more Keystone...
     
  23. FarmerDave

    FarmerDave F1 World Champ
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    Jul 26, 2004
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    IgnoranteWest
    I might spluge and go coors light or bud light.
     
  24. Schatten

    Schatten F1 World Champ
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    Apr 3, 2001
    11,237
    Austin, TX
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    Randy
    Jason, can you throw me over or post up the information regarding the cameras / internet connection / system you'll be using.

    Reason I ask, pricing and of course, retaining those feeds. While I can see the feeds at all times on the DSX system we have here, it will record, motion detected, for a specified amount of time. Although low res, it has plenty of information and doesn't take much space on the harddrive.
     
  25. JasonMiller

    JasonMiller F1 Rookie
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    Jul 16, 2004
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    Jason Miller

    You bet, let me get the info from the installer and I will post it ASAP
     
  26. Chris Taylor

    Chris Taylor Karting

    Aug 11, 2004
    122
    Elroy, TX
    I don't mind tellin', since it took me over a year to find somebody that didn't want more than the property value to cover it. One had the audacity to not cover tornado or fire, which are the only 2 things at all likely to happen, for about $10k a year. I forget what we're paying now, and I forget the company. I'll dig around tomorrow and post the name here, surely they've got connections to somebody up yonder.

    If you're in the industry, you'll like this one. We were with one company who dropped us because they "didn't offer Tier 1 coverage". Tier 1 would be Corpus Christi, South Padre, etc., etc. Apparently when the PO called the company to change the name on the policy, they understood that he was digging up all 17 acres and moving them to Rockport. :rolleyes:
     
  27. WJHMH

    WJHMH Two Time F1 World Champ
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    Sep 5, 2001
    22,458
    Panther City, Texas
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    Preferred Pronouns: Lord/Master
    Jason, I like your idea & it has so much potential. I'd like to get down to Houston soon to pick up some of my remaining shop equipment that your more than welcome to use. Please let me know if I can help out with your project. I'd like to check out the building this weekend if possible.

    Lighting equipment
    Jack stands
    Large shop fan
    Floor jacks
    brand new A/C window unit with remote
    Various bodyshop tools & supplies
    1987 Honda Elite 125cc scooter (going to Rob's new place @ MSR for FChatters to use.)
    etc...
     
  28. JasonMiller

    JasonMiller F1 Rookie
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    Jul 16, 2004
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    Jason Miller
    Thanks and again you are welcome to take my truck down to get your stuff.
    I am begining to think I may have to take on a partner in this deal. I have so many projects going at the current time as well as other small business.

    I looked into insurance and I think I am going to have to require each person have insurance on their car as well as I will have overall coverage. It would more than double the monthy costs to insure a warehouse full of exotics, tools, and other stuff.

    The building is steel and there isnt really anything flamible but you never know. I plan on a sofisticated alarm, and fire suppression system anyway.

    Thanks for all the input!
    Jason
     

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