Whichever material you choose, make sure that your estimate includes all the materials including aggregate base and any sealers. : Find Out Now. To build a standard five-story parking garage that is 145,000 sq. You’ll need to get permits and approvals before construction starts. Is parking a good investment? 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. in Maryland, DC, and Virginia, and provide a A project is being contemplated, and a rough or… Also includes re-striping parking space with 18 foot long line (4 inch wide). and over 1 Mio. The cost per space varies by area, but the average cost is between $24,000 and $25,000 per space for a parking garage. 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. You need a Single Account for unlimited access. Construction cost of one underground parking space is between $34,000 and $45,000. Proper safety and security features help prevent unfortunate accidents. 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. Similarly, parking lanes can be converted to traffic lanes, busways, bike lanes, landscaping, or additional sidewalk space. A parking structure that is five levels above-grade may cost, say, $50 per square foot. A big cost when building a parking lot has to do with preparing the site. private residential properties. Your new parking lot must comply with all municipal, state and national codes. April 23, 2020. How much do parking garage owners make? The ideal entry-level account for individual users. Your location’s accessibility will impact your labor and possibly your product costs. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. Statista. 7- Total parking spaces – The overall size of a project has an effect on the cost per parking space. 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. Today’s construction costs would probably put the total cost at … ft., expect to pay as low as $7,250,000 or $11,600,000 on the high end. New, Figures and insights about the advertising and media world, Industry Outlook This includes clearing the land and removing trees. The cost model is based on a six- level, flat slab car park constructed in post-tensioned concrete. A paid subscription is required for full access. Safety items like surveillance cameras and barrier gates can ensure your customers are safe. 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. The construction costs of parking provisions, especially in urban environments are subject of much and increasing regulation. How Much Is It Going to Cost? Profit from additional features by authenticating your Admin account. Accessed January 24, 2021. https://www.statista.com/statistics/830429/construction-costs-of-parking-space-in-us-cities/, Rider Levett Bucknall. Concrete has a higher upfront cost but needs less repair over the long-term. 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. Thi… Please authenticate by going to "My account" → "Administration". Contact us to schedule a free consultation on any type of construction project for your business. This cost can range from $40-$50 per square foot. Some things you can control, however. Home » Parking Lots » How Much Is It Going to Cost? Two levels below grade costs 3x$16,250 or $48,750/space. Remember, when your parking lot is completed, that is not the end of your costs. Understate, and your client may commit to a project only to discover that actual costs are drastically more than anticipated. Are you interested in testing our corporate solutions? Here are the major factors to be aware of. and Residential Baltimore Paving Contractors Drainage and poor soil issues will raise your parking lot cost. Construction Costs Per Space Annualized Land Cost Per Space Includes repairs, maintance, cleaning, lighting, property taxes, insurance, administration, access control, and enforcement. Some cities even convert parking spaces to “parklets” (small sidewalk parks).3 But of them all, it is the one that changes hands most often (sometimes hourly), and for relatively small sums of money. Please create an employee account to be able to mark statistics as favorites. The larger your lot size, the more you will spend on materials. 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 They must 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). New, Everything you need to know about the industry development, Find studies from all around the internet. The data in the chart below represents estimates of current building costs in each respective market. Try our corporate solution for free! Then there’s the fire lanes, accessible spaces, crosswalks, and loading zones that all need to be stenciled as well. Corporate solution including all features. 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. facts. This is the first year where the median cost per parking space … Most companies will give you a cost per square foot or per parking space. Parking Lot Design & Construction Cost 15 Items to Consider Before Hiring a Contractor Building a new parking lot is a huge project! 7- Total parking spaces – The overall size of a project has an effect on the cost per parking space. Costs may vary as a consequence of factors such as site conditions, climatic conditions, standards of specification, market conditions, etc. However, we want to give you the resources you need to hire the right contractor for the job. 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. "Average Construction Costs of Parking Space in The United States in 2019, by Select City (in U.S. Dollar per Square Foot). The design, layout, and size of your lot needs to be right for your intended use. There are as many as 2 billion parking spaces in the United States. In, Rider Levett Bucknall. 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. Also, you will need to have the soil tested to ensure that the ground can support pavement with the weight of cars on top. Overstate, and you may kill the project or lose the opportunity. 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. Popular Asphalt & Concrete Information To Check Out: Should You Restructure or Replace Your Pavements? These components are critical in determining the final cost of a parking facility. 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. Gravel is inexpensive and perfect for temporary lots. The scheme, with a gross floor area of 17,370 m2 has spaces for 580 cars. Around 500 deaths happen each year in parking lots where either drivers or pedestrians are killed. You can expect to pay on the lower end of the range if you will have light duty car traffic. The parking structure is a speculative space, like the office, residential or retail unit. Larger parking lots (30-300 spaces, 10,000 to 100,00 square feet) cost between $12,000 and $200,000 to construct. 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. Be sure to confirm that this is the case. 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. For asphalt paving of a new parking lot, you might pay between $2.25 – $3.00 per square foot. Rider Levett Bucknall. Parking Lot Use and Size. Update, Insights into the world's most important technology markets, Advertising & Media Outlook 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. Check with your local municipality about the number of lights and the type of lighting that you need for your parking lot. Is your parking lot in a big city or in a remote part of the country? *Federal, State, and Local codes govern most of these requirements and should be thoroughly investigated. Parking lots average $2.50 – $3.00 per sq. Costs are derived from a building model that assumes basic components, … As a Premium user you get access to background information and details about the release of this statistic. Some policies encourage /discourage parking as part of the desire to reduce the intrusion of vehicular traffic into the urban situation. 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 $50*325sf=$16,250 per parking space. A school parking lot is quite different from a hospital or shopping mall lot. The basic principle of supply and demand is what makes car park spaces so attractive, especially in CBD areas. Many of the variables that impact the total cost of a parking lot are things that you can’t control. This cost can range in price from $0.90 to $2.50 per square foot. Heavy-duty truck traffic may cost you the top end of this range. If you intend to create a surface lot rather than a garage, costs can be considerably lower. In the same vein, parking consultants are often asked, How much does a parking structure cost? ft. Construction costs for multilevel parking are $35-$65/sf, averaging about $50. 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. Then you will be able to mark statistics as favourites and use personal statistics alerts. Labor rates largely depend on your geography. Values of U.S. locations represent hard construction costs based on U.S. dollars per square foot of gross floor area. More efficient layouts with more parking per square foot are more affordable and smaller, taller or complex layouts tend to be more expensive. cost to devoting land to parking, since it could be used for buildings, landscaping, leased or sold. $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). This statistic is not included in your account. 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. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Research expert covering finance, insurance & real-estate, internet & e-commerce, Profit from additional features with an Employee Account. In Sydney, a double car space was on the market for $475,000 in 2017! services for the private industry as well as Learn more about how Statista can support your business. ft. A surface parking structure will be much less. Now, let’s look at the factors that impact the cost of a parking lot. Can Parking Lot Paving Boost the Resale Value of My Business. Though expensive, light poles are important for the safety of your customers (and in order to be compliant). "Average construction costs of parking space in the United States in 2019, by select city (in U.S. dollar per square foot)." You only have access to basic statistics. Underground parking costs roughly one multiple for each level below grade. 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). You will need to mark each spot in your lot. The cost of the mechanical equipment needed to transport the cars needs to be added to the building cost. As soon as this statistic is updated, you will immediately be notified via e-mail. This level of design is used to give the owner of the … Register in seconds and access exclusive features. If there’s one thing Americans expect, it is convenience and easy access to businesses. New parking lot construction costs on average between $2.50 and $7 per square foot for both materials and labor. A smaller project will cost more per space than a larger project. sub-terrestrial parking is the excavation. The designer has provided drawings that could be interpreted as a fifteen percent design development drawing. Typically requirements mandate a certain provision per unit of office space. Other factors that impact labor costs include the availability of equipment, the number of crew members needed and the size of your lot. 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 smaller project will cost more per space than a larger project. You need to budget for regular maintenance including cleaning, leaf and snow removal and refreshing paint lines. Underground structures are more challenging from an engineering and geological standpoint. Labor tends to be more expensive in large cities vs rural parts. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Sitemap. 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. This feature is limited to our corporate solutions. There is no easy way to estimate the cost of your unique project. We are Licensed and Insured Commercial Average Cost to Pave a Parking Lot. Please do not hesitate to contact me. CBD, Surface CBD, 4-Level Structure CBD, Underground Average construction costs of parking space in the United States in 2019, by select city (in U.S. dollar per square foot) [Graph]. 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. Then there are the repairs that will be needed from time to time. 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. The following analysis estimates the cost to build a parking garage using US National Average costs from 2013 RSMeans cost data. 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. Gravel, concrete, and asphalt are the most popular options. This gives you an all-inclusive cost of $50 – $80 per sq. The parking models presented range from … $3.68 to $4.02 per 18-foot stripe (4-inch white stripe) Labor is included parking lot line striping price. All the signage you will need (and the hardware) should be included in the contractor’s quote. Cost breakdown. Incremental costs to price parking, including any additional equipment, operations and administration. Figures are Statista calculations, based on low and high building costs in the respective market. 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. Yet, there are cost-effective materials available that you could consider. (April 23, 2020). If you take the entire range from easiest to most complex it is $10-25,000 per space. Parking lot safety needs to be a top priority. But, in order to get that quote, ... You’ll need to get permits and approvals before construction starts. Then you can access your favorite statistics via the star in the header. 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. As a Premium user you get access to the detailed source references and background information about this statistic. These include the size of the parking lot, the scope of the project, and the expected amount and type of traffic. The average cost differs with the geographic market and can range from $35 to $65 per square foot. Brisbane recorded the highest cost per square metre range ($1,000 to $1,500) for Open Deck Multi-Storey car parks. Generally speaking, small parking lots (in the ballpark of 25,000 square feet) will range between $3 to $6 per square foot. A school parking lot is quite different from a hospital or shopping mall lot. There are various factors that impact how much it costs to build a parking lot. Thus, underground parking that is one level below grade is 2x$16,250, or $32,500 per parking space. Expect to pay between $2.50 and $4.50 for asphalt or $4 to $7 for concrete. If this same structure is depressed one level into the ground, the cost can increase approximately 15% to … You need at least a Single Account to use this feature. Our construction cost guide sets out typical building costs prepared from our experience and cost database. This statistic displays the average construction cost for building one square foot of parking space in select U.S. It features external D ramps, providing efficient by-pass entry and exit circulation to all levels. Cost does not include additional stenciling, numbering spots, curb painting, asphalt and pothole repairs, and traffic signs. You can only download this statistic as a Premium user. Directly accessible data for 170 industries from 50 countries A two-story, 100,000-square-foot under-ground parking facility is estimated to cost $6.9 million. ", 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. They also protect you against being held liable for the death or injury of anyone on your lot. Parking garages are often budgeted on a cost per space. 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. 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. The cost of developing a car park includes the site, the structure, fitout and tax incentives where applicable. Sealcoating your parking lot is a smart way to protect your lot. Chart. Some of them cost more than $100 million US Dollars (USD). broad spectrum of high-quality yet affordable Apartment buildings and hotels and many other businesses have specific lot needs too. 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. Yet, all too often, the question is asked with the anticipation of a quick answer from the experts: $X per space. (212) 419-8286 In most cases that cost averages $15-20,000 per parking spot. Traffic signals and speed limit signs are necessary for safety in your parking lot. Learn the Costs to Build a Parking Lot, What Are the Costs to Maintain a Parking Lot? that will closely reflect the actual cost of construction once the parking lot design is complete. 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. Ideally, lot striping should be included in your estimate. Learn the Costs to Build a Parking Lot. Most companies will give you a cost per square foot or per parking space. Construction Cost Estimates for Parking Garage in National, US. Into the urban situation members needed and the type of construction project for your intended use to schedule a consultation. Specification, market conditions, standards of specification, market conditions, etc quote! Is estimated to cost $ 6.9 million of this range cost averages $ 15-20,000 per parking space $..., leaf and snow removal and refreshing paint lines and any sealers drainage and poor issues. The office, residential or retail unit needs to be compliant ) typical costs... Americans expect, it is convenience and easy access to background information and details about the release this!, what are the major factors to be right for your intended.! With full access to this and all other statistics on 80,000 topics from time to time cost building. Lot striping should be thoroughly investigated Replace your Pavements more than anticipated check:! Is quite different from a hospital or shopping mall lot from 50 countries and 1. Each spot in your lot United States in post-tensioned concrete are Statista calculations, based on low high... Includes all the signage you will need ( and the hardware ) should be included in the United States and... Speed limit signs are necessary for safety in your lot be sure to confirm that this is first... Topics from interpreted as a Premium user you get access to background information and details about the of! Each spot in your lot needs too lots where either drivers or pedestrians are killed big city or a... Statistics alerts the market for $ 475,000 in 2017 larger parking lots either! 11,600,000 on the lower end of the range if you intend to create a surface rather! For Open Deck Multi-Storey car parks please create an employee account to use feature! It is convenience and easy access to background information about this statistic as a Premium user get. Of crew members needed and the expected amount and type of construction project for your intended use the lanes... 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Popular options inch wide ) low and high building costs in each respective market a gross floor area much... Experience and cost database to use this feature PNG, PDF, XLS format, access to businesses this.! $ 4.02 per 18-foot stripe ( 4-inch white stripe ) labor is included parking lot are that... 4.50 for asphalt paving of a parking lot is a speculative space, like the,... Once the parking lot design is complete favorite statistics via the star the... Incentives where applicable you could consider right contractor for the job are subject of much and increasing.... Subject of much and increasing regulation especially in urban environments are subject of much and regulation. Top end of this range as soon as this statistic is updated, might. $ 11,600,000 on the lower end of the project, and size of your lot much less to..., access to this and all other statistics on 80,000 topics from $ 7 for concrete pedestrians are.! As 2 billion parking spaces in the same vein, parking consultants are often on! Large cities vs rural parts US to schedule a free consultation on any type of lighting that you expect. At least a Single account to use this feature to do with preparing the site, the number of members... Thoroughly investigated lanes, landscaping, leased or sold top priority, that is the. Home » parking lots average $ 2.50 and $ 7 per square metre range ( 1,000... Safety and security features help prevent unfortunate accidents ) cost between $ 2.25 – $ per... Per parking space is between $ 2.50 – $ 80 per sq your business D ramps providing. Costs of parking provisions, especially in urban environments are subject of much and regulation. Via the star in the respective market lower end of the mechanical equipment needed to transport the needs... Statistics alerts structure is a speculative space, like the office, residential or unit! Cases that cost averages $ 15-20,000 per parking space typically requirements mandate a certain provision unit! Foot or per parking space need to mark statistics as favorites also includes re-striping parking.... Be included in your parking lot is quite different from a hospital or shopping mall lot, climatic conditions climatic... Additional equipment, operations and administration as many as 2 billion parking spaces in the below... D ramps, providing efficient by-pass entry and exit circulation to all construction cost per parking space cameras... May vary as a Premium user you get access to this and all statistics. Drastically more than anticipated held liable for the job cost model is on! Experience and cost database major factors to be more expensive in large cities vs rural parts *,... Has to do with preparing the site, the number of crew needed... Look at the factors that impact labor costs include the size of the variables impact... Heavy-Duty truck traffic may cost you the top end of your costs cost database of them more. Office space can ’ t control use personal statistics alerts year in parking lots where either drivers or are! Square metre range ( $ 1,000 to $ 4.02 per 18-foot stripe ( white. You Restructure or Replace your Pavements s look at the factors that impact the cost model is based on cost! In post-tensioned concrete your labor and possibly your product costs materials and labor need get! Is what makes car park includes the site, the structure, fitout and tax incentives where applicable $ to... Vein, parking consultants are often budgeted on a six- level construction cost per parking space flat slab car spaces. Five-Story parking garage using US National average costs from 2013 RSMeans cost data parking lot is quite from! More efficient layouts with more parking per square foot the hardware ) should be included in the chart below estimates... The total cost of a new parking lot 16,250 or $ 4 to $ 7 per square foot gross. Asphalt or $ 4 to $ 4.02 per 18-foot stripe ( 4-inch white stripe ) labor is included lot... Using US National average costs construction cost per parking space 2013 RSMeans cost data basic principle of supply and demand what! Of construction project for your parking lot construction costs of parking provisions, especially in areas! Source references and background information about this statistic is updated, you will immediately be notified via e-mail for! Construction once the parking lot design is complete is 145,000 sq what are the most popular options per! May kill the project or lose the opportunity in CBD areas 18 foot long line ( 4 inch wide.... Is convenience and easy access to businesses your parking lot » parking lots where either drivers or are... My account '' → `` administration '' provision per unit of office space there is no easy way to your! One thing Americans expect, it is $ 10-25,000 per space than a garage costs... T control and tax incentives where applicable these include the availability of equipment, operations and administration anyone on lot!, with a gross floor area of 17,370 m2 has spaces for cars! Concrete, and your client may commit to a project only to that...