Developing a parking lot from the planning phase to construction requires significant amount of technical considerations.
These include but are not limited to coordinating with specialists, obtaining proper permitting, assessing for environmental conditions, and building the lot.
But how much does it actually cost to build a parking lot? How much should it cost?
The short answer: that varies from project to project.
What Factors Affect the Final Parking Lot Cost?
Every parking lot project is different with various timelines. And you know from experience that the existing environment, labor and materials, local regulations, and lot size all play a role in the project’s complexity.
All of these factors – and many more – determine the final cost and quality of your commercial parking lot.
Parking Lot Purpose
The intended purpose of your parking lot has a major impact on the cost. For instance, a commercial lot with a tractor-trailer and large truck traffic affects the cost more significantly than a lot for a mid-sized restaurant.
Your parking lot’s purpose depends on the chosen materials, flow, and thickness, among other details.
Next, you must decide on the parking lot’s material. More expensive materials come at a price: they are durable and help your parking lot last a lifetime.
Common parking lot surface materials include asphalt, cement, and gravel. Regardless of which you choose, a geocell foundation can improve the long-term quality of your lot and reduce project costs.
The size has a major impact on cost when developing a parking lot. Economies of scale come into play, meaning that the larger your lot, the lower your cost per square foot will be.
Of course, your available space and the lot’s purpose should play just as much of a role as the cost of your lot’s square footage.
Parking Space Angles
The most common parking lot layout includes rows of spaces at 90-degree angles on both sides of each driveway. But you may have a unique client project that requires different specifications and a more pressing deadline.
For instance, it may be necessary to construct spaces at 45 or 60-degree angles for a quicker turnover time.
Location and Timing
Obvious price factors for building a parking lot are labor costs and the material, which can vary from region to region.
The higher the cost of living in the area you are working in, the more your parking lot project will cost.
Subgrade and Environmental Conditions
Analyzing the existing subgrade is crucial for pricing your parking structure. We’ve seen future parking lots with sturdy subgrades that require less time and expertise than a plot with a weak subgrade.
Other environmental concerns, such as poor drainage and irregular sloping, call for a permeable foundation and preparing the ground beforehand
No matter the subgrade quality or environmental conditions, BaseCore functions as the most reliable and durable parking lot option.
What Parking Lot Materials Are Most Expensive?
Our team recommends approaching the parking lot material with 1 of 2 methods based on its purpose and your budget.
The first is investing more in the initial design and construction to avoid long-term maintenance costs. Precast concrete parking lots have the highest upfront costs but have very little maintenance.
On the other hand, asphalt and even gravel are cost-effective at the start. Both require resealing, adding material, and reconstructing sections for years to come.
Geocell parking lot bases are the best of both worlds as a durable and affordable choice for engineers and construction professionals.
Engineers That Evaluate Your Parking Lot
There is no way to calculate a one-size-fits-all price for parking lots. As we’ve discussed, you will deal with dozens of variables that contribute to company costs. But you should know that the project’s material is one of the largest factors.
The National Average for parking lot material construction costs is between $2.50 and $7.00 per square foot. The cost per square foot can increase or decrease depending on all the variables listed above.
With those average costs per square foot, you can expect to pay as much as $500,000 for a 200 parking-space lot.
We understand the complexity of developing parking lots. Whether you are building a parking garage in the middle of a city or a parking lot for a new business, the lot’s foundation will dictate its quality and reliability.
Call our BaseCore engineers today at (888)-511-1553. We would be honored to evaluate your project and give you some price ranges for commercial parking lot costs.
Let us show you how we can reduce company costs with a foundation that is as strong as concrete and lasts a lifetime.