How Much Does it Cost to Build a Concrete Parking Lot?
Parking lots are critical to business operations. However, finding concrete parking lot contractors is not straightforward. Sure, there are many to choose from, but which are trustworthy and which will get the job done to your liking. Selection is made even more complicated when collecting bids because most companies will vary in price, but what is the cost to build a concrete parking lot? In order to help narrow your options, it is beneficial to understand the costs and considerations that are typical in concrete parking lot installation.
Scope of Work
The first thing to consider is the scope of work. Do you expect the construction company to clear, level and prep an existing field, or are you removing and replacing a current lot? Preparing an untouched area involves a lot more work and time, especially if there are trees and other elevation issues to worry about.
Also, before diving into the details of labor costs, it is necessary to understand how location can affect material and other expenses. For instance, a concrete lot installation might not cost as much in Michigan as it does in California. However, the pricing variations are not just limited to states, prices can vary from county to county and even city to city depending on the company you are using.
Another factor that plays a role in parking lot costs is the distance from the supplier to your location. While it might seem like a small thing to travel 30 to 50 miles, when you are driving heavy specialized equipment that distance, especially filled with concrete and aggregate, it gets expensive. Therefore, it is always wise to consider the distance and weigh your options.
When discussing the cost to build a concrete parking lot, one of the first things to factor into the discussion is the size of your lot. For example, a small parking lot, which is considered about 25,000 square feet with room for about 200 cars, can typically be constructed for somewhere between $75,000 to $150,000 depending on the type of traffic you expect. That pricing breaks down to about $3 to $6 per square foot on average. However, it is necessary to highlight the word “average” because every job is different with its own specifications and hiccups.
Now, that you know the average cost of building a parking lot, it is necessary to understand why there is a $75,000 gap between the lower and upper end of the average scale. The difference has to do with the type of traffic you expect. Light duty traffic, which mainly consists of car traffic, is typically at the lower end of the spectrum, around $3 per square foot. However, if you expect a lot of heavy-duty traffic, which comprises frequent truck traffic, then you can expect to pay about $6 per square foot for the extra precautions and construction.
Another element to consider is drainage, which is typically only a concern for lots that have not been prepared before. Every municipality has grading requirements for concrete installations to ensure that the integrity of buildings remains intact. Therefore, if your parking lot has not been appropriately graded for drainage, you will need to consider it as an added cost.
Labor and Materials
Last, you need to consider the costs of labor and materials. Unfortunately, this is an area where companies can differ significantly. Therefore, do yourself a favor and receive estimates from at least three reputable construction companies before hiring someone for the job.
The average cost for a small parking lot can fluctuate between $75,000 and $150,000 depending on the size, location and concrete parking lot services used. If you need a new parking lot, then contact G&G Concrete & Construction at (586) 571-0337. With over 20 years in business, you can trust G&G for a fair price.