Parking Costs, Pricing and Revenue Calculator
By Todd Litman, Victoria Transport Policy Institute (www.vtpi.org)
7 August 2007
These three spreadsheets calculate parking facility costs, cost recovery pricing, and revenue generation. Users
can adjust inputs to represent various conditions and assumptions. The three spreadsheets are described below.
Costs: This spreadsheet calculates the total costs of constructing and operating a parking facility. Default values are in 200
Pricing: This spreadsheet calculates the prices that need to be charged to recover parking facility costs and provide basic p
Revenue: This spreadsheet calculates revenues and profits from various parking facility costs and prices.
Use the tabs at the bottom to select the spreadsheet you want to use. Change the input values to reflect the
specific situation you want to evaluate. The spreadsheet will automatically calculate results. These spreadsheets
are linked, so data from some cells in one spreadsheet are used to calculate results in another spreadsheet.
Note: Highlighted text indicates input values. These are the cells that you should change when performing
analysis. Do not change other cells unless you want to make structural changes to the model.
If you have questions or comments about this spreadsheet please contact:
Todd Litman, Director
Victoria Transport Policy Institute
1250 Rudlin Street
Victoria, BC, V8V 3R7, Canada
Phone & Fax: 250-360-1560
Email: litman@vtpi.org
Website: http://www.vtpi.org
Default values are in 2002 U.S. dollars.
costs and provide basic profits.
Parking Costs, Pricing and Revenue Calculator
By Todd Litman, Victoria Transport Policy Institute (www.vtpi.org)
7 August 2007
This spreadsheet, "Costs": This spreadsheet calculates the total costs of constructing and operating a par
Note: Highlighted text indicates input values. Default values are 2002 U.S. dollars.
Input Data
Suburban Urban CBD On-Street
Land Costs (per acre) $200,000 $1,000,000 $5,000,000 Varies
Surface Spaces Acre 110 120 130 250
Interest Rate 7% 7% 7% 7%
Years of Payments 20 20 20 20
Average Days of Use Per Month 20 20 25 25
CBD = Central Business District
Facility Costs
Structured Annualized
Parking Land Costs, Land Costs, Land Cost
Type of Facility Stories Per Acre Per Space Per Space
Suburban, On-Street $200,000 $800 $76
Suburban, Surface, Free Land $0 $0 $0
Suburban, Surface $200,000 $1,818 $172
Suburban, 2-Level Structure 2 $200,000 $909 $86
Urban, On-Street $1,000,000 $4,000 $378
Urban, Surface $1,000,000 $8,333 $787
Urban, 3-Level Structure 3 $1,000,000 $2,778 $262
Urban, Underground $1,000,000 $0 $0
CBD, On-Street $5,000,000 $20,000 $1,888
CBD, Surface $5,000,000 $38,462 $3,630
CBD, 4-Level Structure 4 $5,000,000 $9,615 $908
CBD, Underground $5,000,000 $0 $0
Land costs for
structured parking is
divided among all
users. Underground
parking is assumed
to have no
incremental land Annualized land
Notes cost. values
Parking Facility Costs
$9,000
Taxes
$8,000
Operating Costs
$7,000
Annualized Costs
Construction Costs
$6,000
Land Costs
$5,000
$4,000
Annualized Costs
$3,000
$2,000
$1,000
$0
Annualized Annualized
Land Cost Construction Annual O & M Total Annual
Type of Facility Per Space Costs Costs Cost
Suburban, On-Street $76 $283 $300 $659
Suburban, Surface, Free Land $0 $283 $300 $583
Suburban, Surface $172 $283 $300 $755
Suburban, 2-Level Structure $86 $1,416 $300 $1,802
Urban, On-Street $378 $472 $300 $1,150
Urban, Surface $787 $472 $500 $1,759
Urban, 3-Level Structure $262 $1,699 $500 $2,461
Urban, Underground $0 $2,360 $500 $2,860
CBD, On-Street $1,888 $472 $400 $2,760
CBD, Surface $3,630 $472 $400 $4,502
CBD, 4-Level Structure $908 $1,888 $500 $3,295
CBD, Underground $0 $3,304 $500 $3,503
structing and operating a parking facility.
ues are 2002 U.S. dollars.
Notes
This is land acquisition costs.
This is the number of parking spaces per acre of surface area (including landscaping and access lanes).
Interest rate for long-term capital investments.
Years of payments.
Typical number of days that parking space can be rented each month.
Construction Annualized
Costs Per Construction Total Capital Annual O & M Total Annual
Space Costs Costs Costs Annual Tax Cost
$3,000 $283 $3,800 $300 $0 $659
$3,000 $283 $3,000 $300 $0 $583
$3,000 $283 $4,818 $300 $0 $755
$15,000 $1,416 $15,909 $300 $0 $1,802
$5,000 $472 $9,000 $300 $0 $1,150
$5,000 $472 $13,333 $500 $0 $1,759
$18,000 $1,699 $20,778 $500 $0 $2,461
$25,000 $2,360 $25,000 $500 $0 $2,860
$5,000 $472 $25,000 $400 $0 $2,760
$5,000 $472 $43,462 $400 $0 $4,502
$20,000 $1,888 $29,615 $500 $0 $3,295
$35,000 $3,304 $35,000 $500 $0 $3,503
Includes repairs,
maintance,
cleaning, lighting,
property taxes,
Parking facility insurance,
planning, permits Total Capital Costs administration, Property tax
and construction Annualized (land and access control, and imposed on Annualized capital
costs. Construction Costs construction) enforcement. parking facilities. and O&M costs.
Monthly Cost
$54.89
$48.60
$62.90
$150.14
$95.79
$146.55
$205.11
$238.32
$229.99
$375.21
$274.62
$291.95
Monthly Cost Daily Cost
$55 $2.20
$49 $2.43
$63 $3.15
$150 $7.51
$96 $3.83
$147 $7.33
$205 $10.26
$238 $11.92
$230 $9.20
$375 $15.01
$275 $10.98
$292 $11.68
Annual costs divided Monthly costs divided by
by 12 months. monthly days of use.
Parking Costs, Pricing and Revenue Calculator
This spreadsheet, "Pricing": This spreadsheet calculates the prices that need to be charged to recover parking facility cos
Note: Highlighted Text Indicates Input Values
Suburban Urban CBD Off-Street
Average Days of Use Per Month 20 20 25 25
Monthly Load Factor (percent) 70% 80% 90% 90%
Annual Profit 10%
Annualized Annual Total Annual
Type of Facility Pricing System Facility Costs Pricing Costs Costs
Suburban, On-Street Pay-And-Display $659 $50 $709
Suburban, Surface, Free Land Pass $583 $50 $633
Suburban, Surface Pass $755 $50 $805
Suburban, 2-Level Structure Pass, Pay-And-Display $1,802 $150 $1,952
Urban, On-Street Pay-And-Display $1,150 $150 $1,300
Urban, Surface Pass, Pay-And-Display $1,759 $150 $1,909
Urban, 3-Level Structure Pass, Pay-And-Display $2,461 $200 $2,661
Urban, Underground Pass, Pay-And-Display $2,860 $200 $3,060
CBD, On-Street Pass, Pay-And-Display $2,760 $200 $2,960
CBD, Surface Pass, Pay-And-Display $4,502 $200 $4,702
CBD, 4-Level Structure Attendant $3,295 $400 $3,695
CBD, Underground Pass, Pay-And-Display $3,503 $400 $3,903
Incremental costs
to price parking,
For details see "Pricing including any
Methods", Online TDM additional
Encyclopedia at equipment,
http://www.vtpi.org/tdm/tdm83. operations and Facility and pricing
htm From "Cost" table administration. costs.
ed to recover parking facility costs and provide basic profits.
Notes
Typical number of days that parking space can be rented each month.
Portion of parking spaces that are actually leased or rented at any time.
Expected profits on investments.
Breakeven Breakeven Monthly Daily Revenue
Monthly Daily Revenue For for Expected
Revenue Revenue Exected Profit Profit
$84 $4.22 $93 $4.64
$75 $3.77 $83 $4.15
$96 $4.79 $105 $5.27
$232 $11.62 $256 $12.78
$135 $6.77 $149 $7.45
$199 $9.94 $219 $10.93
$277 $13.86 $305 $15.25
$319 $15.94 $351 $17.53
$274 $13.70 $301 $15.07
$435 $17.42 $479 $19.16
$342 $13.69 $376 $15.06
$361 $14.46 $398 $15.90
Monthly revenue
Monthly revenue Daily revenue needed to cover
needed to cover needed to cover costs and provide
costs costs. expected profit
Parking Costs, Pricing and Revenue Calculator
This spreadsheet, "Revenue": This spreadsheet calculates revenues and profits from various parking facility costs and pri
Note: Highlighted Text Indicates Input Values. Default values are 2002 U.S. dollars.
Gross Annual Total Annual
Monthly Rates Load Factor Revenue Costs
Suburban, On-Street $35 90% $378 $709
Suburban, Surface, Free Land $35 70% $294 $633
Suburban, Surface $35 70% $294 $805
Suburban, 2-Level Structure $60 70% $504 $1,952
Urban, On-Street $75 90% $810 $1,300
Urban, Surface $75 80% $720 $1,909
Urban, 3-Level Structure $150 80% $1,440 $2,661
Urban, Underground $150 80% $1,440 $3,060
CBD, On-Street $100 90% $1,080 $2,960
CBD, Surface $100 90% $1,080 $4,702
CBD, 4-Level Structure $150 90% $1,620 $3,695
CBD, Underground $200 90% $2,160 $3,903
Annual costs,
including facilities,
Monthly Rates operations and
Charged Users Total month, or
Portion of parking rented any revenue.portion thereof.
pricing expenses.
arious parking facility costs and prices.
are 2002 U.S. dollars.
Net Annual
Revenue Profit Margin
($331) -47%
($339) -54%
($511) -63%
($1,448) -74%
($490) -38%
($1,189) -62%
($1,221) -46%
($1,620) -53%
($1,880) -64%
($3,622) -77%
($2,075) -56%
($1,743) -45%
Gross revenue Portion of Parking
minus costs. Spaces Rented