How much does it cost to build a parking lot?
How much does it cost to build a parking lot?
$3 – $10 cost per square foot
$900 – $3,500 cost per parking stall
$45,000 – $350,000 average total cost (50 – 100 stalls)
Average cost to build a parking lot
The average cost to build a parking lot is $3 to $10 per square foot or $900 to $3,500 per parking stall. Building a standard lot with 50 to 100 parking spaces costs $45,000 to $350,000, depending on your location, striping, labor rates, and whether you seal the surface.
| Car stalls | Size (square feet) | Average total cost |
|---|---|---|
| 20 | 6,000 – 10,500 | $18,000 – $70,000 |
| 50 | 15,000 – 17,500 | $45,000 – $175,000 |
| 100 | 30,000 – 35,000 | $90,000 – $350,000 |
| 150 | 45,000 – 52,500 | $135,000 – $525,000 |
| 200 | 60,000 – 70,000 | $180,000 – $700,000 |
Most parking lots take up 300 to 350 square feet per car. Each parking space is 8'6" to 8'9" wide.
Cost to pave a parking lot by material
Most contractors use asphalt or concrete to build a parking lot. Concrete costs more but has a longer lifespan of 30 to 40 years, compared to 15 to 30 years with asphalt. Asphalt is easier to repair and is 100% recyclable but is not the best choice for hot climates.
| Parking lot type | Average cost per square foot | Average total cost per stall |
|---|---|---|
| Asphalt cost | $3 – $7 | $900 – $2,500 |
| Concrete cost | $5 – $10 | $1,500 – $3,500 |
Asphalt
An asphalt parking lot costs $3 to $7 per square foot or $900 to $2,500 per stall. The depth of the asphalt may impact the total cost, as well as shipping or freight fees if you don't get the asphalt from a local company.
Concrete
A concrete parking lot costs $5 to $10 per square foot or $1,500 to $3,500 per stall. In most areas, early fall is the best time to pour concrete as the weather is cool and relatively stable. However, it may be hard to find contractors during this time due to high demand.
Parking lot paving cost calculator
Besides the basic paving, you'll also have to consider other costs like sealing or parking lot striping. Sealing helps protect the surface of the parking lot and extend its lifespan. Many parking lot builders include striping in their fee but not sealing.
| Factor | Average cost |
|---|---|
| Parking lot striping cost | $4 – $5 each (standard stall) $25 – $40 each (handicapped stall) |
| Sealing concrete cost | $1 – $3 per square foot |
| Sealing asphalt cost | $1 – $2 per square foot |
The following factors affect the total construction cost for building a parking lot:
Location: Land costs $1,500 to $200,000 per acre, depending on the location. Building a parking lot in a crowded city will cost more than rural or suburban areas with plenty of space. Building near a restaurant, shopping center, airport, or highway costs more.
Extra striping: On top of basic stall striping, you can pay extra for features like stenciled letters or numbers, stop lines, and arrows.
Demolition: If there's an existing structure or lots of vegetation on your lot, you'll need to remove it. Clearing wooded land costs $1,500 to $3,000 per acre.
Permits: Your general contractors will obtain any necessary building permits during the construction process and should include them in their labor fee.
Maintenance: After construction, you'll need to maintain the parking lot by repairing or resurfacing whenever necessary.
Resurfacing asphalt costs $1 to $3 per square foot.
Repairing asphalt paving costs $2 to $5 per square foot.
Concrete resurfacing costs $3 to $7 per square foot.
Additional features
Depending on your location and how much traffic you expect, you may need some of the following extra features:
Traffic signs
An entrance or exit
Speed bumps
Sidewalks
Medians
Curbs
Parking lot lights
Labor
Before you can start building the parking lot, you'll need to hire professionals to confirm your land is safe to build on and the construction plans comply with all state and local codes. The rates of local contractors affect the cost of commercial construction projects:
| Professional type | Average hourly rate |
|---|---|
| Architect cost | $100 – $250 |
| General contractor cost | $50 – $150 |
| Electrician cost | $50 – $130 |
Parking lot FAQs
How big are parking lots on average?
Parking lots can be anywhere from 20 to 200+ spaces. Since each space is 300 to 325 square feet, your parking lot could be 6,000 to 70,000+ square feet total.
How long does it take to build a parking lot?
Installing a parking lot takes anywhere from 2 to 4 weeks, depending on the size, number of features, and current site conditions. Any delays from material shortages or inclement weather could hinder the progress of your project.
What do I need in order to build a parking lot?
You may need special permission to install a parking lot, depending on your city, state, or jurisdiction. Make sure to check local building codes to determine which fees, permits, and regulations you'll need to follow.
All commercial parking lots must adhere to the Americans with Disabilities Act (ADA) Standards for Accessible Design to make sure people with disabilities can access everything they need in the parking lot.
Getting estimates from parking lot construction companies
Before hiring a commercial construction company or asphalt company near you, remember to follow these steps:
Search for companies with high reviews on HomeGuide and Google.
Ask to see a portfolio of similar parking lots they've installed.
Compare three or more estimates from different contractors.
Choose a licensed, bonded, insured company.
Request an itemized estimate and contract before proceeding.
Questions to ask parking lot builders
When hiring contractors to build a parking lot, ask these important questions:
How long have you been installing parking lots?
How many similar projects have you done?
Can you show me any pictures or testimonials?
Will you hire subcontractors if necessary?
Would you recommend asphalt or concrete for this location?
Do you charge an hourly rate or a percentage?
Can you get me any bulk discounts on paving materials?
Do you anticipate any delays or other fees?
How much will it cost to include extras like stop signs or curbs?
Does this estimate include striping?
How many square feet per parking spot will this lot have?
How much will maintenance cost for a parking lot this size?
Can you give me a written estimate and contract before we start?
Using our proprietary cost database, in-depth research, and collaboration with industry experts, we deliver accurate, up-to-date pricing and insights you can trust, every time.