Parking lot/garage investment

[Frank Rizzo]

Hi, 

I just came across an interesting opportunity  to purchase a 12 car garage with space to add 10-15 parking spaces in densely populated area, seems like there is a real need for it. I would like to rent the garage bays and spaces out on a per month basis. Seems like a no brained, but due diligence is needed. Does anyone have any experience with this type of investment? What’s type of vacancy/ turnover should i expect? Are there any hidden costs i am not thinking of?