Space is scarce in my shop, so I wanted a wall cabinet to hold as many tools as possible. I came up with this low-profile tool cabinet, with pegboard on the back and storage on both faces of the doors thanks to magnetic bars.
The cabinet consists of three 2x4 frames joined with rabbets, glue, and screws. The door frames have a centered groove in the rails and stiles to accept plywood panels. The plywood panels each have three cutouts that allow the magnetic bars to work on the front and back of the doors.
The back frame has a groove for pegboard. Two cleats behind the pegboard are used to mount the cabinet to the wall.
After assembling the frames, hinge the door frames to the back frame and add magnets to hold them closed. Now all that’s left is to mount handles and magnetic bars, and secure the cabinet to wall studs to increase your tool storage.