Reds and Sonic are making very good points. When I did the survey, I selected the cheap membership option, which for my current situation is the only one that made financial sense. My main attraction to this idea is to learn from other members' expertise, and hopefully pass on what I've learned. I've only been wrenching on bikes for 2 years (but no stranger to a toolbox; previously into building Jeeps). While I've learned a lot about motorcycles, I've learned a lot the hard way, by failing and doing it over. I would enjoy the opportunity to learn to make my projects easier by learning from others. At my income, I need another monthly payment about as much as I need to be stabbed, but if I consider what I'd gain from the time, it sure beats the hell out of a gym membership. Any $75 or less a month option could feel like money well spent, as long as I'm making mental and mechanical progress and have the access to tools I don't own.
Over the past two years, I have been doing my wrenching in my basement. It is a pain to get bikes in and out, but being able to work all winter and work as late as I want to more than makes up for it. Most of my hours tinkering with my bikes are the same hours other people spend at the bar. Sonic is dead on about his timeframe suggestion.
My toobox has at least doubled in size since I started my first bike, and tools have often been a bigger chunk of the budget than moto parts. My cousin, brother-in-law and best friend have all recently bought "project bikes", along with another cousin that has an itch to wrench on his Mazda. We have all discussed the possibilty of splitting or renting a larger workspace to work on both cars and bikes. With 3 project bikes in the basement currently, things are getting pretty tight space-wise, and something like your plan is the perfect transition between the basement and our own "garage". So, for someone like me, or my group, the possibilty for residual income for a hackerspace would be a great opportunity but may not be long term, unless we build relationships in that facility that are worth the price of continuing to work there.
When I consider the price of going up a membership option or two, I would consider taking machining/welding/painting classes etc. instead to learn the skills I need to work on. Combine that with 5 guys paying $50-$250 a month each, and each learning individual skills, we could have a very serious setup of our own to work in within a few years. When I consider that, the success or failure of a local hackerspace will depend on continually attracting new "users" and their ability to build working relationships with the "veterans" that also use the space. It could be a tricky balance between having a quiet shop, a comfortable shop or a crowded shop.
In Cincinnati, I've heard about a group trying to put together something similar. I am interested in the idea and would spend some time there, but I haven't heard any news lately about it being up and running or well-attended. One thing that the group does do though, is have wrench-and-learn sessions, that seem to be increasing in popularity. Maybe something along those lines might help you determine if the hackerspace will live up to it's potential to be worth the effort.
Pardon my rambling, I hope this is helpful in some way.