The application of Robotic Parking Systems adds
value to any development project by:
-
Lowering the overall development costs
-
Lowering the overall operation costs
-
Adding revenue generating floor area
Construction
/ Development Costs
Conventional Garage vs. Automated Facility
| |
Conventional
Garage |
Automated
Garage |
|
Land |
$8 Mil. |
$8 Mil. |
|
Construction Costs
|
400 x $10,000 = $4 Mil |
850 x $14,000 = $11.9Mil |
|
Soft costs |
$0.5 Mil |
$ 0.5 Mil |
|
Development Costs
(Land + Construction Costs + Soft costs
/ # cars) |
$12.5 Mil / 400 = $31,250 / space
130% |
$20.4 Mil / 850 = $24,000 / space
100% |
|
|
Robotic =
|
1050 Cars (115,000 sf) |
|
Conventional =
|
700 Cars (245,000 sf) |
|
|
-------------- |
|
New Gain for the developer =
|
350 extra parking spaces in the same
building envelope. |
|
PLUS:
|
130,000 sf additional floor area for
comercial use in the same building envelope
as well. |
|
COST COMPARISON*
Conventional versus
Automated Garage
(*Note: Any cost comparison is based on assumptions
and does not necessarily reflect local situations;
therefore the numbers contained herein, although derived
from real projects, may not match your situation as
there are too many different possible scenarios and
variations throughout the United States.)
The comparison is based on a downtown garage in Chicago
with 620 stalls, 24/7/365 operation, with valet service.
There is a total 205,000 square feet of deck space.
|
DESCRIPTION |
CONVENTIONAL
|
ROBOTIC
PARKING AUTOMATED |
|
With comparable number of stalls
|
With
comparable size of lot |
|
(A)-
Investment |
|
|
|
|
|
|
|
Land
|
30,000 sf
|
$12,000,000 |
15,000 sf
|
$6,000,000 |
30,000
sf |
$12,000,000 |
|
Turn
Key Garage
Construction Cost
|
620 u. X
$12,000 |
$7,440,000 |
639
u. X $13,000 |
$8,307,000 |
1430 u.
X $10,250 |
$14,657,500 |
|
Soft
Cost |
5% of Const.
Cost |
$372,000 |
5% of Const.
Cost |
$415,350 |
5% of Const.
Cost |
$732,875 |
|
Total
|
|
$19,812,000
|
|
$14,722,350
|
|
$27,390,375
|
|
Cost
per space |
|
$31,954 |
|
$23,040 |
|
$19,154 |
|
|
(B)-
Operation |
|
|
|
|
|
|
|
Personnel
|
7 full time,
10 part time |
$280,000 |
3 full time
|
$180,000 |
3 full time
|
$180,000 |
|
Salaries
for manager,
bookkeeper etc
|
$68,500 |
|
$50,000 |
|
$50,000 |
|
Tax
Payroll |
|
$33,750 |
|
$22,300 |
|
$22,300 |
|
Health,
Welfare |
|
$44,890 |
|
$29,670 |
|
$29,670 |
|
Cleaning
|
|
$26,000 |
|
$5,200 |
|
$8,000 |
|
Uniforms
|
|
$7,000 |
|
$0 |
|
$0 |
|
Repairs
& Maintenance |
|
$60,000 |
|
$100,000 |
|
$200,000 |
|
Supplies
|
|
$10,000 |
|
$10,000 |
|
$10,000 |
|
Worker’s
Compensation |
|
$16,000 |
|
$10,000 |
|
$10,000 |
|
Insurance
|
|
$30,000 |
|
$25,000 |
|
$30,000 |
|
Armored
Car |
|
$7,000 |
|
$0 |
|
$0 |
|
Security
|
|
$30,000 |
|
$0 |
|
$0 |
|
Telephone
|
|
$3,000 |
|
$3,000 |
|
$3,000 |
|
Utilities
|
|
$75,000 |
|
$60,000 |
|
$135,000 |
|
License
& Permits |
|
$7,000 |
|
$5,000 |
|
$5,000 |
|
Data
Processing & Postage |
|
$7,000 |
|
$7,000 |
|
$7,000 |
|
Printing
|
|
$7,000 |
|
$7,000 |
|
$7,000 |
|
General
Expense |
|
$5,000 |
|
$5,000 |
|
$5,000 |
|
Advertising
& Promotion |
|
$2,000 |
|
$2,000 |
|
$2,000 |
|
Management
Fee |
|
$86,000 |
|
$0 |
|
$0 |
|
Maintaining
Buildg.
2% of Const. Cost
|
|
$148,800 |
|
$55,380 |
|
$123,933 |
|
Replacement
of parts
3 % of Equip. Cost
|
|
|
$100,000 |
|
$150,000 |
|
Total |
|
$953,940
|
|
$676,550
|
|
$977,903
|
|
Operating
Cost: Space/Month |
|
$128.22
|
|
$88.23
|
|
$56.99
|
|
Debt
Service: Space/Month |
10% of Invest.
Cost |
$266.29
|
13% of Invest.
Cost |
$249.60
|
13% of Invest.
Cost |
$207.50
|
|
TOTAL
SUMMARY OF COST = |
$394.51
|
|
$337.83
|
|
$264.50
|
|
Depreciation
of Garage Cost |
|
3-5%
/ Y |
|
16
% / Y |
|
16
% / Y |
|
It’$
all relative!
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|
