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Construction Costs for Parking Stalls

July 8, 2008

In development, municipal codes and zoning generally dictate parking requirements. For most office projects, parking requirements are generally in the ratio of 3.3-4 spaces per 1,000 square feet. For most multi-family developments which have a mix of 1-3 br, ratios are generally in the 1.5-2 spaces or stalls per unit. Retail can vary greatly, as the required ratio of parking for various retail uses can have a big impact on parking requirements, but generally requirement of 4.5 stalls per 1,000 SF is mandated, with requirements moving to 7-9 stalls per 1,000 SF for food-intensive retail centers.

The cost of construction for these parking stalls can also vary greatly depending on what type of parking is provided; will the parking be be subterranean or surface? will it be in a parking garage or in surface lot?

Pricing can vary greatly, but some back of the envelope pricing for the construction of parking in Silicon Valley is as follows:

  • Grade-Level Surface Parking – $5,000 per stall
  • Parking Garage Below Building
    • Above-Grade – $40,000 per stall
    • Below-Grade – $60,000-90,000 per stall
  • Freestanding Parking Garage
    • Above-Grade – $18,000 per stall
    • Below-Grade – $40,000 per stall

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Categories: Commercial Construction | Commercial Development | Market Data
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