Parking Spaces Investing
A good investment is something that either generates consistent cash flow or appreciates in value over time (or both).
Parking spaces are an interesting and very unique type of real estate investment.
In some cities like New York and San Francisco, parking is at such a premium that individual spaces can sometimes sell for upwards of $80,000.
If we compare it with other real estate assets such as commercial premises and housing, the maintenance costs of parking spaces are very low.
With a low initial investment, low maintenance costs, parking space investments in all major cities have exploded.
In The United States, the parking industry generates more than $20 billion annually in gross parking revenues, according to International Parking Institute estimates.
Traditionally, airport car parking provides higher yields than other traditional 'buy-to-let' investments.
Investors worldwide understand the need for airport car parking and with many car parks operating at full capacity on a daily basis this investment is proving very popular as well as lucrative.
Location, Location, Location
Location is everything in real estate. You can find a great asset, but if the location is inferior then you are more than likely stepping into a high-risk investment. By virtue of already having such demand that customers are willing to pay for parking, demand is especially likely in a beautiful downtown central business district or high-demand tourist area where land is at a premium.
Interested in investing in Parking Spaces? Contact Us