What kind of estimated monthly revenue is needed to cover debt service and operating expenses for a parking garage?
This will vary by region due to construction costs. However, a good range for estimating the amount of revenue for covering both debt service and operating expenses is approximately $135 to $150 per space. This range of revenue may also provide the debt service coverage ratio needed by the banking/investment community to underwrite the project.
*Federal, State, and Local codes govern most of these requirements and should be thoroughly investigated. Data presented herein should be considered guidelines only. For more specific information and assistance with implementation of these guidelines, please contact THA Consulting, Inc. via email at email@example.com