Car Storage facility

[Kenneth Gear]

I currently have two collector cars which fill up the garage space at my home.  I am getting the itch for a third.

I'd like to buy/lease warehouse space to store them but I am finding that it's cost prohibitive for a non-income generating warehouse space.  Has anyone dealt with this. I was thinking of jointly buying or renting a place with two or three other owners. Or even buying a place myself and renting out space to other collector car owners.  Obviously there liability and trust issue to be worked out.

I'd prefer not to use a self storage facility.

Has anyone else made such an arrangement and if so how did it work out ?

[Shvegel]

I think you have hit on an interesting business model.  In every major city there are doubtless several things present.  An abundance of collector cars and some vacant heated warehouse space. With a central location, some security cameras and heat you could very well have a winning idea.  My pagoda is currently occupying the space in my heated that I normally park my daily driver in.  I would gladly pay someone a couple hundred a month to have a safe dry place to keep my car.

[mdsalemi]

My former business partner needed a place to store his Piper Cherokee airplane. Hanger space at his home airport (Bennington, VT; William H. Morse State Airport, DDH) was either costly or limited availability. Long story short, he got some kind of ground lease from the state for 99 years, then built a 4-place pole-barn hanger. Sold three shares as "condos"; kept the fourth for himself at no cost. A few years later he sold the plane, and separately, his "condo share". If you think classic cars are a rich man's hobby, ask a private pilot...

Here in Michigan some investors got together and created condo-garages for storage and built a track too. https://m1concourse.com/about-us/

Up in Toronto, Auto Vault https://www.autovaultcanada.com has been around for a few years.

So, the business model is there in several forms...it just takes time, money, perseverance to make it all work.