Costs of constructing a parking garage
|Labor Cost||$12-$13||145,000||$1.7-$1.8 million|
Nationally, the average cost to construct a parking garage is from $7.5 million to $12 million, with the majority of individuals spending approximately $9.75 million for a 150,000 square foot multi-level parking garage above ground. The most affordable expenditures connected with this project are $150,000 for a 30,000 square foot facility.
This includes insulation, electricity, plumbing, and any other finishing that may be required. The cost of a ″bare-bones″ garage (a simple garage construction that does not contain any of the amenities indicated above) will range between $200 and $240 per square foot, depending on the size. When it comes to the cost of a turnkey double vehicle garage, expect to pay around $50,000.
How profitable are parking garages?
Ms. Teamer went on to say that the Port Authority also has experience and expertise in operating parking garages, such as those located downtown at the Superior, Vistula, and Port Lawrence garages. Because of this, Mr. Teamer believes the acquisition is a ‘natural’ match. This, he believes, is a very enticing feature of the acquisition.
What is the average parking space for a parking garage?
Aspects to consider include parking space dimensions, truck and trailer parking, handicapped and accessible parking, and parking patterns, such as parallel and perpendicular angles.Other factors to consider include whether the parking space is one-way or two-way.Handicapped Accessibility – Asphalt or Concrete?Angle Entry and Exit Spacing Handicapped Accessibility – Asphalt or Concrete?- What is the width of a parking space?