PARKING GARAGES

PARKING GARAGES

Welcome to the world of parking garages, a profitable niche of commercial real estate. I’ll show you how to structure your deal, finance it, and manage it from afar! Consider that:

  • There are 240 million cars registered in the United States. Paid parking is a huge business.
  • Buying and selling parking spaces is relatively simple and hassle free.
  • Maintaining parking garages is easy.
  • Operating parking garages can be done through third party companies.
  • Added revenue potential is almost unlimited—from exterior signage to interior revenue centers like vending and car detailing.
  • Eviction is easy; delinquent leasers are simply not permitted access.
  • Paid parking is a great way to use land and produce cash flow until it is time to develop (like in a downtown location).
  • Many cities are eliminating the minimum required number of parking spaces for condominium developments to promote mass transit—which boosts parking leases and sales.

Manage from a Distance

A parking garage is the ultimate commercial property for an absentee owner. You simply choose a management company and they operate everything and handle all the day-to-day hassles for you. Many parking garage owners just use remote surveillance over the Web if they want to check in on their investment from afar.