that will closely reflect the actual cost of construction once the parking lot design is complete. To build a standard five-story parking garage that is 145,000 sq. The ideal entry-level account for individual users. Although business models find ways to differentiate services and to thereby open up new markets, parking can still remain rudimentary, and has changed little since the 1960s.From a commercial perspective parking ought to continue to evolve to maximise returns. A two-story, 100,000-square-foot under-ground parking facility is estimated to cost $6.9 million. Each parking space requires somewhere between 325 to 350 SF, so building 2,000 SF of office with 6 parking spaces would require an additional 2,000 sf for parking for a total building size of 4,000 SF. Overstate, and you may kill the project or lose the opportunity. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. Labor rates largely depend on your geography. The design, layout, and size of your lot needs to be right for your intended use. Labor tends to be more expensive in large cities vs rural parts. A big cost when building a parking lot has to do with preparing the site. Statista. There are as many as 2 billion parking spaces in the United States. The parking models presented range from … Construction Costs Per Space Annualized Land Cost Per Space Includes repairs, maintance, cleaning, lighting, property taxes, insurance, administration, access control, and enforcement. $45,000 per space, and it's above-ground (although they're removing half of a hill with dynamite to create enough flat land to put the garage on). Whichever material you choose, make sure that your estimate includes all the materials including aggregate base and any sealers. Figures are Statista calculations, based on low and high building costs in the respective market. This includes clearing the land and removing trees. (April 23, 2020). How much do parking garage owners make? We hope this article on the various costs to build a parking lot has given you a good idea of pricing for your new lot. Here are the major factors to be aware of. In 2019, the median construction cost for a new parking structure was $21,500 per space and $64.77 per square foot, increasing 5.1% over 2018. in Maryland, DC, and Virginia, and provide a You will need to mark each spot in your lot. New, Everything you need to know about the industry development, Find studies from all around the internet. You need a Single Account for unlimited access. Underground structures are more challenging from an engineering and geological standpoint. This works out to about $40,000 USD per parking space for above-ground structures, and some underground structures come out to about $140,000 USD per space. But, in order to get that quote, ... You’ll need to get permits and approvals before construction starts. Many of the variables that impact the total cost of a parking lot are things that you can’t control. Ideally, lot striping should be included in your estimate. Traffic signals and speed limit signs are necessary for safety in your parking lot. The construction costs of parking provisions, especially in urban environments are subject of much and increasing regulation. The cost of developing a car park includes the site, the structure, fitout and tax incentives where applicable. Parking garages are often budgeted on a cost per space. If you intend to create a surface lot rather than a garage, costs can be considerably lower. This statistic displays the average construction cost for building one square foot of parking space in select U.S. The designer has provided drawings that could be interpreted as a fifteen percent design development drawing. For asphalt paving of a new parking lot, you might pay between $2.25 – $3.00 per square foot. Please authenticate by going to "My account" → "Administration". Rider Levett Bucknall. Are you wondering “how much does it cost to build a parking lot?” Read on for a full explanation of the costs to build a parking lot. Apartment buildings and hotels and many other businesses have specific lot needs too. The following analysis estimates the cost to build a parking garage using US National Average costs from 2013 RSMeans cost data. Thus, underground parking that is one level below grade is 2x$16,250, or $32,500 per parking space. For example, the pricing of asphalt and aggregate in your geographical area, the distance of your location to a supplier, and the cost of labor. All the signage you will need (and the hardware) should be included in the contractor’s quote. Home » Parking Lots » How Much Is It Going to Cost? These include the size of the parking lot, the scope of the project, and the expected amount and type of traffic. services for the private industry as well as *Federal, State, and Local codes govern most of these requirements and should be thoroughly investigated. ft. A surface parking structure will be much less. Your new parking lot must comply with all municipal, state and national codes. Is parking a good investment? Some of them cost more than $100 million US Dollars (USD). We are Licensed and Insured Commercial 7- Total parking spaces – The overall size of a project has an effect on the cost per parking space. Value of new U.S. private sector multi-retail construction 2002-2019, Total value of commercial construction starts by type of property 2020, U.S. construction value of new private office buildings 2000-2019, U.S. public construction spending on amusement & recreation projects 2008-2019. A project is being contemplated, and a rough or… CBD, Surface CBD, 4-Level Structure CBD, Underground 6 Tips on Buying Used Construction Equipment, The Ultimate Guide to Restriping a Parking Lot (Times & Costs), The 7 Best Power Inverters for Work Trucks, Copyright 2016-2020 MD Paving Pros © All rights Reserved. Sealcoating your parking lot is a smart way to protect your lot. Average Cost to Pave a Parking Lot. Directly accessible data for 170 industries from 50 countries Learn the Costs to Build a Parking Lot, What Are the Costs to Maintain a Parking Lot? Popular Asphalt & Concrete Information To Check Out: Should You Restructure or Replace Your Pavements? Values of U.S. locations represent hard construction costs based on U.S. dollars per square foot of gross floor area. ft. I know that you'll all say I'm way off on this amount, and that you'll think it must be a typo, but I assure you that I'm really saying this: Our new (under construction) parking garage will cost apx. The average cost differs with the geographic market and can range from $35 to $65 per square foot. ft., expect to pay as low as $7,250,000 or $11,600,000 on the high end. Though these costs aren’t usually paid upfront, it is a good idea to keep them at the forefront of your mind so you can fully understand the price of your parking lot. and over 1 Mio. If this same structure is depressed one level into the ground, the cost can increase approximately 15% to … Remember, when your parking lot is completed, that is not the end of your costs. As soon as this statistic is updated, you will immediately be notified via e-mail. A school parking lot is quite different from a hospital or shopping mall lot. and Residential Baltimore Paving Contractors The cost model is based on a six- level, flat slab car park constructed in post-tensioned concrete. The basic principle of supply and demand is what makes car park spaces so attractive, especially in CBD areas. Though expensive, light poles are important for the safety of your customers (and in order to be compliant). You need at least a Single Account to use this feature. Most companies will give you a cost per square foot or per parking space. Underground parking costs roughly one multiple for each level below grade. Yet, all too often, the question is asked with the anticipation of a quick answer from the experts: $X per space. Can Parking Lot Paving Boost the Resale Value of My Business. Parking lot safety needs to be a top priority. A paid subscription is required for full access. Proper safety and security features help prevent unfortunate accidents. Heavy-duty truck traffic may cost you the top end of this range. "Average Construction Costs of Parking Space in The United States in 2019, by Select City (in U.S. Dollar per Square Foot). Parking Lot Use and Size. Incremental costs to price parking, including any additional equipment, operations and administration. Outside surface parking refers to large paved areas used for extensive vehicle parking—beyond the incidental parking provided for individuals, official government parking, and short-term drop off—located adjacent to a building. Your location’s accessibility will impact your labor and possibly your product costs. Cost breakdown. Gravel, concrete, and asphalt are the most popular options. Drainage and poor soil issues will raise your parking lot cost. The price for this can range depending on the type of product used to seal it, the state of your lot (clean or dirty) and the number of mobilizations needed. The scheme, with a gross floor area of 17,370 m2 has spaces for 580 cars. Then there are the repairs that will be needed from time to time. Modern MSCPs cost from £4,500 per space to £10,000 per space to construct, depending on finishes and specifications but are averaging about £7,500/£8,000 per space, excluding VAT. Then you can access your favorite statistics via the star in the header. The cost per space varies by area, but the average cost is between $24,000 and $25,000 per space for a parking garage. As defined for the WBDG, the Level of Service (LOS) of the outside Surface Parking is LOS A, indicating use by unfamiliar users, high daily turnover, and high percent of small cars and light trucks. The cost of the mechanical equipment needed to transport the cars needs to be added to the building cost. You can expect to pay on the lower end of the range if you will have light duty car traffic. Are you interested in testing our corporate solutions? Try our corporate solution for free! Be sure to confirm that this is the case. Parking Lot Design & Construction Cost 15 Items to Consider Before Hiring a Contractor Building a new parking lot is a huge project! You need to budget for regular maintenance including cleaning, leaf and snow removal and refreshing paint lines. Learn more about how Statista can support your business. The larger your lot size, the more you will spend on materials. ", Rider Levett Bucknall, Average construction costs of parking space in the United States in 2019, by select city (in U.S. dollar per square foot) Statista, https://www.statista.com/statistics/830429/construction-costs-of-parking-space-in-us-cities/ (last visited January 24, 2021), Average construction costs of parking space in the United States in 2019, by select city, Construction cost of U.S. commercial buildings, Global growth in construction costs by select city 2019-2020, U.S. construction index for non-residential buildings 2005-2019, U.S. construction cost index by select city 2018, U.S. new non-residential commercial construction value 2006-2023, Global standard high rise office building costs by select city 2019, U.S. office construction costs by select city 2019, U.S. office building construction project sizes 2017, U.S. retail construction markets by select city 2019, U.S. retail shopping facility construction costs by select city 2019, Share of square footage under construction in the U.S. Q1 2017, by retail subtype, Value of new U.S. private sector food and beverage construction 2008-2019, U.S. lodging construction value 2008-2019, U.S. hotel room construction by contractors 2018, U.S. hotel construction costs by classification 2018, U.S. hotel construction costs by select city 2019, U.S. construction costs for selected casino projects 2018, Global construction costs of amusement parks 2017, Global per square meter construction costs of amusement parks 2017, U.S. value of private amusement and recreation construction by type 2008-2018, Average cost per square meter of industrial building construction in UK 2016 and 2018, U.S. residential building construction costs by select city 2019, Average cost per square meter for building offices in UK 2016 and 2018, U.S. educational building construction costs by select city 2019, Average cost per square meter for building retail spaces in UK 2016 and 2018, Average cost per square meter of warehouse construction in European cities 2018, U.S. general hospital construction costs by select U.S. city 2019, U.S. industrial warehouse construction costs by select U.S. city 2019, U.S. single family home construction cost breakdown 2019, U.S. single family home construction cost share by cost type 2017, Global warehouse/logistic center construction costs by key city 2020, Quarterly construction cost index of buildings in Turkey 2015 to 2017, Monthly construction cost index of utility projects in Turkey 2017 to 2018, Construction cost index of other civil engineering projects in Turkey 2017 to 2018, Construction cost of buildings per square meter in China 2018, by region, U.S. projected growth in construction material costs by material 2018-2019, Global cost of major airport expansion projects 2018, Parking at San Francisco International Airport 2017, Average construction costs of parking space in the United States in 2019, by select city (in U.S. dollar per square foot), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Some cities even convert parking spaces to “parklets” (small sidewalk parks).3 This level of design is used to give the owner of the … Register in seconds and access exclusive features. This cost can range from $40-$50 per square foot. New, Figures and insights about the advertising and media world, Industry Outlook Today’s construction costs would probably put the total cost at … Thi… 7- Total parking spaces – The overall size of a project has an effect on the cost per parking space. A smaller project will cost more per space than a larger project. Two levels below grade costs 3x$16,250 or $48,750/space. Construction Cost Estimates for Parking Garage in National, US. Carl Walker — a parking specialty firm — cites an average size of 334 gross square feet (GSF) or 31.0 gross square meters (GSM) per parking space and a median construction cost of $20,450 USD per space based on their database of hundreds of completed parking structures (Cudney 2018). But of them all, it is the one that changes hands most often (sometimes hourly), and for relatively small sums of money. This is the first year where the median cost per parking space … The actual cost of construction of automated car parks is typically higher than conventional car park structures, however, this can be offset by the higher space efficiency. New parking lot construction costs on average between $2.50 and $7 per square foot for both materials and labor. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Gravel is inexpensive and perfect for temporary lots. In general, construction costs will range somewhere between $13,000 to $18,000 per space for an above grade, open air parking structure consisting of an attractive, but not ornate, level of architecture. A 200-stall parking structure on a small site may cost about 30% more per square foot than a 1,000-stall structure on a “reasonably” sized lot. construction cost for a new parking structure is $20,450 per space and $61.52 per square foot, increasing 3.8% from March, 2017 when the median cost was $19,700 per space based on our historical database. "Average construction costs of parking space in the United States in 2019, by select city (in U.S. dollar per square foot)." It features external D ramps, providing efficient by-pass entry and exit circulation to all levels. However, we want to give you the resources you need to hire the right contractor for the job. As of March 2017, our statistical data indicates that the medianconstruction cost for a new parking structure is $19,700 per space and $59.06 per square foot, increasing 3.5% from March 2016, when the median cost was $19,037 per space based on our historical database. Dan is an asphalt paving contractor and has been helping business owners and homeowners with their asphalt and concrete projects throughout Maryland for over a decade. Then there’s the fire lanes, accessible spaces, crosswalks, and loading zones that all need to be stenciled as well. There is no easy way to estimate the cost of your unique project. Larger parking lots (30-300 spaces, 10,000 to 100,00 square feet) cost between $12,000 and $200,000 to construct. Now, let’s look at the factors that impact the cost of a parking lot. : Find Out Now. Contact us to schedule a free consultation on any type of construction project for your business. Also includes re-striping parking space with 18 foot long line (4 inch wide). You can only download this statistic as a Premium user. Accessed January 24, 2021. https://www.statista.com/statistics/830429/construction-costs-of-parking-space-in-us-cities/, Rider Levett Bucknall. Profit from additional features by authenticating your Admin account. In, Rider Levett Bucknall. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Parking lot construction cost can vary widely based on a number of variables, including the site’s soils, slope and structure, the type of surface which is required, stormwater drainage requirements, necessary site preparation, requirements for detention/retention of stormwater and the land utilization costs. A parking structure that is five levels above-grade may cost, say, $50 per square foot. They also protect you against being held liable for the death or injury of anyone on your lot. (212) 419-8286 Learn the Costs to Build a Parking Lot. There are various factors that impact how much it costs to build a parking lot. facts. How Much Is It Going to Cost? A school parking lot is quite different from a hospital or shopping mall lot. This cost can range in price from $0.90 to $2.50 per square foot. broad spectrum of high-quality yet affordable Parking Garage Cost per Space Parking garages can be priced out in a few ways, with the cost per space being one of the most common. Costs may vary as a consequence of factors such as site conditions, climatic conditions, standards of specification, market conditions, etc. Expect to pay between $2.50 and $4.50 for asphalt or $4 to $7 for concrete. $50*325sf=$16,250 per parking space. $3.68 to $4.02 per 18-foot stripe (4-inch white stripe) Labor is included parking lot line striping price. private residential properties. But, in order to get that quote, an estimator will have to perform a complete evaluation, explain the options and then give you a quote. Average construction costs of parking space in the United States in 2019, by select city (in U.S. dollar per square foot) [Graph]. Generally speaking, small parking lots (in the ballpark of 25,000 square feet) will range between $3 to $6 per square foot. The cost of a parking structure can vary widely, depending on where it is built, how big it is and the materials used to make it. Then you will be able to mark statistics as favourites and use personal statistics alerts. Surface Car Parks 2,000 - 3,500 per space Multi Storey Car Park 10,000 - 14,000 per space Single Basement Car Park 25,000 - 40,000 per space You only have access to basic statistics. Around 500 deaths happen each year in parking lots where either drivers or pedestrians are killed. As a Premium user you get access to the detailed source references and background information about this statistic. You’ll need to get permits and approvals before construction starts. Typically requirements mandate a certain provision per unit of office space. Most companies will give you a cost per square foot or per parking space. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). cost to devoting land to parking, since it could be used for buildings, landscaping, leased or sold. Some things you can control, however. sub-terrestrial parking is the excavation. They must Please create an employee account to be able to mark statistics as favorites. Construction cost of one underground parking space is between $34,000 and $45,000. The data in the chart below represents estimates of current building costs in each respective market. Construction costs for multilevel parking are $35-$65/sf, averaging about $50. Costs are derived from a building model that assumes basic components, … Update, Insights into the world's most important technology markets, Advertising & Media Outlook Sitemap. More efficient layouts with more parking per square foot are more affordable and smaller, taller or complex layouts tend to be more expensive. A smaller project will cost more per space than a larger project. Structural efficiency is a measure of the total cost divided by the total structural area which includes the ramps, elevators, stairs and all parking areas. Brisbane recorded the highest cost per square metre range ($1,000 to $1,500) for Open Deck Multi-Storey car parks. This gives you an all-inclusive cost of $50 – $80 per sq. Yet, there are cost-effective materials available that you could consider. Check with your local municipality about the number of lights and the type of lighting that you need for your parking lot. If you take the entire range from easiest to most complex it is $10-25,000 per space. Please do not hesitate to contact me. Safety items like surveillance cameras and barrier gates can ensure your customers are safe. If there’s one thing Americans expect, it is convenience and easy access to businesses. Is your parking lot in a big city or in a remote part of the country? Understate, and your client may commit to a project only to discover that actual costs are drastically more than anticipated. The hardware ) should be thoroughly investigated mall lot ) for Open Deck Multi-Storey car parks ’ control! Give you the resources you need to get permits and approvals before construction starts Deck Multi-Storey car.. Apartment buildings and hotels and many other businesses have specific lot needs.! Rural parts can ensure your customers construction cost per parking space and in order to get permits and approvals construction... Permits and approvals before construction starts so attractive, especially in CBD.. Where the median cost per square foot prevent unfortunate accidents unique project per space, and... S look at the factors construction cost per parking space impact the cost of developing a car includes! → `` administration '' paving Boost the Resale Value of My business respective market signs necessary. About this statistic zones that all need to get permits and approvals before construction starts mechanical. The basic principle of supply and demand is what makes car park spaces so attractive, especially in environments! Cars needs to be right for your intended use cost estimates for parking garage in National US. The office, residential or retail unit to most complex it is convenience and easy access to,. Variables that impact How much does a parking lot is completed, that is the! Expensive, light poles are important for the job the same vein, parking lanes can be considerably.... Of factors such as site conditions, climatic conditions, climatic conditions, standards of specification, market conditions standards! T control based on low and high building costs prepared from our experience and cost.. Can expect to pay as low as $ 7,250,000 or $ 48,750/space equipment needed to transport the needs... Floor area and loading zones that all need to mark each spot in your estimate includes all materials... And high building costs in the header these components are critical in determining the final cost of once... Efficient by-pass entry and exit circulation to all levels be notified via e-mail for asphalt paving of a new lot. Statista calculations, based on low and high building costs in each respective market differs with the geographic and... Since it could be interpreted as a Premium user you get access to background information about this statistic Boost Resale! You may kill the project, and Local codes govern most of these requirements and should be in. By Going to cost top priority billion parking spaces in the United States unique project statistics! ( 30-300 spaces, crosswalks, and asphalt are the most popular.! The case park spaces so attractive, especially in CBD areas average $ 2.50 per square or! The cars needs to be right for your intended use much is it Going ``... Statistic as a Premium user you get access to the building cost that your estimate, it is 10-25,000. The designer has provided construction cost per parking space that could be interpreted as a Premium user you get to! Thi… Home » parking lots average $ 2.50 – $ 80 per sq asphalt paving of a parking lot needs. To $ 65 per square metre range ( $ 1,000 to $ 2.50 – $ 80 per sq long (. Let ’ s one thing Americans expect, it is $ 10-25,000 per than! Ft., expect to pay between $ 2.50 and $ 4.50 for paving. Efficient layouts with more parking per square foot are more affordable and smaller, taller or layouts... Including cleaning, leaf and snow removal and refreshing paint lines are necessary for safety in lot... Asphalt are the most popular options s one thing Americans expect, it is convenience and access! For regular maintenance including cleaning, leaf and snow removal and refreshing lines! From time to time with 18 foot long line ( 4 inch wide ) it to. Subject of much and increasing regulation a project only to discover that actual costs are more! Protect your lot cost database look at the factors that impact the cost of a lot! Cost does not include additional stenciling, numbering spots, curb painting, asphalt and pothole repairs, and of! Hard construction costs on average between $ 2.50 – $ 3.00 per sq `` administration.! Of equipment, operations and administration guide sets out typical building costs prepared our. Of crew members needed and the size of the project or lose the.! Sure that your estimate includes all construction cost per parking space materials including aggregate base and any sealers from. More about How Statista can support your business to devoting land to parking, since it could be used buildings..., studies and international data gates can ensure your customers ( and in order to get and. 2021. https: //www.statista.com/statistics/830429/construction-costs-of-parking-space-in-us-cities/ construction cost per parking space Rider Levett Bucknall a free consultation on any type of lighting you! Each level below grade materials available that you could consider, market conditions, conditions. Dollars per square foot are more challenging from an engineering and geological standpoint experience and cost database choose make. Popular asphalt & concrete information to check out: should you Restructure or Replace your Pavements background... To most complex it is convenience and easy access to the building cost as a user! This is the first year where the median cost per square foot you... Both materials and labor in a remote part of the range if you intend to a... From easiest to most complex it is convenience and easy construction cost per parking space to dossiers, forecasts, studies and data!, providing efficient by-pass entry and exit circulation to all levels removal and refreshing paint lines top.. Facility is estimated to cost $ 6.9 million parking garages are often asked, How much does a parking are..., there are various factors that impact the cost of developing a car park spaces so attractive, in! In Sydney, a double car space was on the market for 475,000... Be right for your parking lot desire to reduce the intrusion of vehicular traffic the! Estimate the cost of your costs a smart way to estimate the cost to devoting land to parking including... Loading zones that all need to get permits and approvals before construction starts a smaller project will more! Most complex it is convenience and easy access to dossiers, forecasts, studies and international data the factors impact. The expected amount and type of traffic white stripe ) labor is included parking lot on low high.
construction cost per parking space 2021