Parking Garage Construction Cost Per Space

This gives you an all inclusive cost of 50 80 per sq.

Parking garage construction cost per space. Ft expect to pay as low as 7 250 000 or 11 600 000 on the high end. A parking structure that is five levels above grade may cost say 50 per square foot. Construction cost estimates for parking garage in national us.

Space costs in urban areas are higher than those in suburban areas. The following analysis estimates the cost to build a parking garage using us national average costs from 2013 rsmeans cost data. Parking lots average 2 50 3 00 per sq.

Mixed use versus stand alone. In most cases that cost averages 15 20 000 per parking spot. More efficient layouts with more parking per square foot are more affordable and smaller taller or complex layouts tend to be more expensive.

Costs are derived from a building model that assumes basic components using union labor for a 145000 square foot building. A surface parking structure will be much less. As of march 2019 our statistical data indicates that the median construction cost for a new parking structure is 21 500 per space and 64 77 per square foot increasing 5 1 from march 2018 when the median cost was 20 450 per space based on our historical database.

The cost of land would be about 122 per square foot of built parking garage plus 50 for construction of the garage plus a few ancilliaries adding up to let s say 200 per square foot total cost for the parking garage which is half the per square foot cost of housing. The average structural cost for a parking structure varies with geographic market and can range from 35 per square foot to as much as 65 per square foot. Factors that can affect structural efficiency include.

To build a standard five story parking garage that is 145 000 sq. Parking garages are often budgeted on a cost per space. If you take the entire range from easiest to most complex it is 10 25 000 per space.