How to Calculate Parking Ratio for Commercial Property

calculate parking ratio for commercial propertyWhen it comes to commercial buildings, having adequate parking space is a must. Shopping centers, office buildings, and other commercial establishments rely heavily on convenient parking facilities for their customers and employees. To this end, most local governments have established specific guidelines regarding parking requirements for commercial buildings, which include something called the ‘parking ratio.’

What is a Parking Ratio?

The parking ratio is an essential metric used to determine the right amount of available spaces relative to any given building’s size. Calculating the correct number of parking spots can be quite complex, taking into account factors such as the building’s area and its intended use. Then there are additional considerations, such as dedicated spaces for disabled persons, families, visitors, and other types of clientele. Spots may be in parking garages or parking lots, depending on the property type and local regulations.

To make matters simple, some formulas exist to provide estimates for determining the appropriate level of parking coverage. When calculating the ideal number of parking slots for any given premises, the formula takes features like land area, type of land usage, and occupancy load.

How to Calculate Parking Ratio

Knowing how to calculate parking ratios can be very beneficial for property investors. A higher parking ratio means more spaces per square foot, making it easier for people to find a spot when they arrive. When building new commercial construction or repurposing a building, it’s important to consider traffic flow and accessibility.

To find the parking ratio for a particular building, divide the number of spaces by the building’s square footage (in thousands). For example, let’s look at a 40,000-square-foot building with a 200-space parking lot. In this case, you would divide 200 by 40, which results in a ratio of 5 spaces per 1,000 square feet. This works out to be equivalent to one parking space per every 200 square feet of office space.

Having an appropriate parking ratio is key for businesses looking to improve customer service and satisfaction. A lower parking ratio means fewer spaces and may lead to frustrated customers looking for a place to park when coming for their appointments or visiting the business. Conversely, high ratios ensure that customers have enough places available and don’t waste too much time trying to find one when they arrive. As such, it’s extremely important to consider when designing or planning any new development projects that involve large open areas adjoining commercial centers or buildings.

For a ballpark calculation, use this parking ratio calculator.

Know Your Local Regulations

When considering building construction, local regulations must be factored into the equation. Municipalities have regulations when it comes to parking ratios, which refer to the amount of space within a lot dedicated to parking vehicles. This ratio is set according to building and zoning codes that are implemented by the municipality or city. Developers must submit plans ahead of any construction with details such as the size of the building and its associated parking lot for it to gain approval.

Read Brevard County, FL, parking regulations here.

If you’re looking to invest in commercial property in Brevard County, FL, it’s helpful to work with a local commercial broker. At Ullian Realty, our team will help you determine the best parking ratio for potential properties. Contact us to learn more.