When I drove my 71 98 to the OKC Coffee and Cars this month I ended up talking to some gents involved in this project:

http://www.news9.com/story/33336957/...ned-for-edmond

I can see why there would be a demand for something like this in my community. Most of the subdivisions in Edmond have an HOA and there isn't even space for a shop on most properties with a house.

Does anyone have a development like this in their community? It's new to me.

FWIW, I would never consider renting/leasing/purchasing a property like this. I live in the county so I can build on my property without worrying about an HOA. For the price of a mid-sized storage unit at $95/square foot I could build a HUGE shop in my back yard.

 

Pretty expensive for something you can't live in @ $85,500 - $114,000. I will say that past observances have proven there is no limit on how many ways to part someone with their money.

 

x2

I suppose P.T. Barnum said, "There's a sucker born every minute."

 

He also said "A fool and his money are soon parted". While H. L. Mencken was said to have stated "nobody ever went broke underestimating the intelligence of the American people" and a perfect example of this was the success of the pet rock.

 

There's a similar facility already in business near me http://www.guygarages.ca/. Sounds like an interesting idea for those with enough disposable income to be able to manage it. Some people have cottages at the lake, others have that dialed in shop across town, I guess.


A friend of mine bought a unit in an industrial complex for a similar purpose.

 

he probably spent a lot less as well.

 

Spent less for more square footage, but had to install his own hoist and it's finished in a more industrial manner. Also gives him a fair sized storage compound in the back, office/reception room, bathroom and a good sized windowless room upstairs.


It will probably be easier to sell when he gets bored with it because of it's actual intended use. Plenty of mechanical and other shops in that complex already.

 

Definitely for the wealthy with more money then they know what to do with... At that kind of pricing, I'm sure there are areas where you can purchase property and build a facility rather then rent/lease and never have ownership...

 

I have seen ads online for at least a couple of these establishments. One was on a race track somewhere. Can't recall the location. They seem to be in vogue at present, or at least the developers would like to see them as being "in vogue!"

 

We have a road race complex close by with houses and shops right off the track. Not for my pay grade though.

 

Well these facilities are nothing I could see me using, it seems to me to be a great idea and I would have to disagree that these are only for the wealthy. Also these facilities are "Car Condo's" and you do own them just as you would any condo. Some would even look at this as an investment. To me it would all depend on where it was located and what was allowed. i.e can you rent it out, use it as a business location, have a party.

 

Kind of hard to justify when you can rent a 10x20 self-storage unit for $100-$150 a month. You could rent it for 40 years at $150 a month and still come out ahead.

 

There was an episode of Top Gear in which the hosts stayed at a similar place in Virginia.

http://virnow.com/