1. What is Parking Ratio?

Parking ratio is a commercial real estate metric that indicates the number of parking spaces available per 1,000 square feet of leasable area. It helps determine if a property has adequate parking for tenants and visitors.

2. How Does the Calculator Work?

The calculator uses the parking ratio formula:

Where:

• \( PR \) — Parking Ratio (spaces per 1000 sq ft)
• \( NS \) — Number of parking spaces
• \( BA \) — Building area in square feet

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

3. Importance of Parking Ratio

Details: Parking ratio is crucial for property valuation, tenant satisfaction, and compliance with local zoning regulations. Higher ratios typically indicate more desirable properties with better parking availability.

4. Using the Calculator

Tips: Enter the total number of parking spaces and the building area in square feet. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is a good parking ratio?
A: This varies by property type and location. Office buildings typically range from 2-4 spaces/1000 sq ft, while retail may require 4-6 spaces/1000 sq ft.

Q2: Does parking ratio include accessible spaces?
A: Yes, all parking spaces are typically included in the calculation, though accessible spaces may have additional requirements.

Q3: How does parking ratio affect property value?
A: Properties with higher parking ratios are generally more valuable as they can accommodate more vehicles and potentially attract more tenants.

Q4: Are there minimum parking ratio requirements?
A: Many municipalities have minimum parking requirements that vary by zoning district and property type.

Q5: Should parking ratio include tandem or stacked spaces?
A: Typically, only independently accessible parking spaces are counted in parking ratio calculations.