Parking in large cities is notoriously expensive, especially in downtown regions and entertainment zones. If you are seeking a profitable, unique investment option outside of the standard real estate, you might want to think about investing in a parking lot. That's correct; even if your land is only a few acres, you can be a real estate investor!
Parking lots are a diverse asset class with relatively constant rates of return. There are various parking lot investment alternatives available, each with its own set of costs and possible rewards.
For example, urban parking garages are often significant investments that yield the highest potential profits. Surface lots in the suburbs, on the other hand, have a lower access barrier. They do, however, frequently come with lower return rates.
The way you run your parking lot has an impact on both your running costs and your profits. While entirely operating your parking …