Shower Thoughts: $800k for Luxury Car Garages

$800k luxury car garages? ($475/ft)

I drive by a place every week that sells luxury car garages. Not rents, sells. I always think "What's the play there?"

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So I did some digging. I can't believe people pay $800k for fancy garages with HVAC to store a couple cars. More details:

- 13 locations across TX

- When they opened their first in DFW they had no idea if this would be a thing. They kind of created the market

- Owners buy spaces and can build them out how they please.

- People also store boats, motorcycles and RVs there, or just use it to office their business out of

- I'm not sure how much they sell for upon construction completion, but I found one for resale in DFW for $800k. 1,675 square feet! Pictures below.

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I'm sure they take a cut every time one resales.

There's a massive opportunity for someone to rent a ton of industrial space for storing classic cars.

Every time I rent out my building, 1/3 of the inquires are for car storage. The demand is definitely there for larger scale, climate controlled storage as well.

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A 12k square foot industrial space in DFW costs about $13k/month and would fit about 100 cars on the floor level.

Market car storage rates are $250 - $300/month.

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Fill the floor level and net $12k/month and then invest in racks to double or triple your capacity.

Even better, find a landlord with multiple properties and start with a smaller one to fill up first and then expand up.

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These are my shower thoughts. Follow me @mhp_guy if it's your style.