Definition: The Parking Ratio Calculator computes the parking ratio per 1,000 square feet, a metric used in real estate to measure the number of parking spots available relative to the rentable area of a building.
Purpose: It assists property owners, developers, and tenants in evaluating parking availability, ensuring the property meets the needs of its occupants and complies with local zoning requirements.
The calculator uses the following formula, as shown in the image above:
Where:
Steps:
Calculating the parking ratio is essential for:
Example 1: Calculate the parking ratio for a building with 200 parking spots and a rentable area of 50,000 ft²:
Example 2: Calculate the parking ratio for a building with 150 parking spots and a rentable area of 6,967.74 m² (equivalent to 75,000 ft²):
Q: What is considered a good parking ratio?
A: A good parking ratio varies by property type and location. Office buildings often aim for 3–4 spaces per 1,000 ft², while retail properties may need 5–6 spaces to accommodate higher traffic.
Q: How does the parking ratio impact leasing decisions?
A: A higher parking ratio can make a property more attractive to tenants by ensuring sufficient parking, while a low ratio may deter tenants, especially in areas with limited public parking.
Q: How are different units converted for the rentable area?
A: The calculator converts all units to square feet (ft²) using standard conversion factors: 1 cm² = 0.00107639 ft², 1 m² = 10.7639 ft², and 1 yd² = 9 ft².