1. What is Parking Ratio?

The Parking Ratio is a commercial real estate metric that indicates the number of parking spaces per 1,000 square feet of building space. It helps assess whether a property has adequate parking for its size.

2. How Does the Calculator Work?

The calculator uses the Parking Ratio formula:

Where:

• \( Spaces \) — Total number of parking spaces
• \( Building Sqft \) — Total building square footage
• 1000 — Standard multiplier to express ratio per 1000 sqft

Explanation: The formula calculates how many parking spaces are available for every 1,000 square feet of building space.

3. Importance of Parking Ratio

Details: Parking ratio is crucial for evaluating commercial properties, ensuring compliance with zoning laws, and assessing tenant convenience. Higher ratios indicate more parking availability.

4. Using the Calculator

Tips: Enter the total number of parking spaces and the building's total square footage. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is a good parking ratio?
A: For office buildings, 3-4 spaces per 1,000 sqft is typical. Retail often requires higher ratios (5-7). Requirements vary by location and property type.

Q2: Does parking ratio include all parking spaces?
A: Typically includes all on-site parking - surface lots, garages, and structured parking. Verify if handicap spaces are included in the count.

Q3: How does parking ratio affect property value?
A: Properties with higher parking ratios often command higher rents and valuations, especially in urban areas where parking is scarce.

Q4: Should parking ratio include street parking?
A: Generally no - only dedicated parking spaces that come with the property should be counted.

Q5: How does parking ratio differ by property type?
A: Retail typically has the highest ratios, followed by medical offices. Industrial properties often have the lowest parking ratios.