Asphalt Parking Lot Cost - Black & Gray Construction Co

New asphalt parking lots cost an average of $75,000. Prices can range all the way from $10,000-$150,000, typically. Some larger projects can cost up to $700,000 total.

Asphalt Vs Concrete Parking Lot Cost

Customers can expect to pay between $2.50-$4.50 for asphalt or $4-$7 for concrete, according to HomeAdvisor. Neither material type takes more time to install, but the main reason why concrete costs more is because it lasts longer.

When well maintained, concrete parking lots will last between 30-40 years. Asphalt, meanwhile, will last between 20-30 years.

Here are the average asphalt parking lot installation costs:

Lowest Cost: $10,000.
Average Cost: $75,000.
Highest Cost: $700,000.

Asphalt Parking Lost Cost Per Square Foot

Square footage is the most common pricing method for asphalt parking lots. You can expect to pay between $1-$2.50 per square foot for asphalt. Prices, of course, will vary based on location.

Tar And Chip

A newer tar and chip parking lot will cost anywhere from $1-$3 per square foot. This method utilizes gravel, asphalt, and chipped stones. It is a good solution for parking lots located near the bottom of hills, as the installation process will help prevent future cracks.

Parking Lots Cost Per Size

$405-$1,134 is a good cost estimate for each parking space. A standard parking space is 9 feet wide by 18 feet in length. This comes out to roughly 162 square feet. Make sure to consider that the additional space is slightly more than half of the lot’s total size.

Here are some estimates based on square footage and the number of parking spots:

6 spots (2,000 sq. ft.): $5,000-$14,000.
10 spots (4,000 sq. ft.): $10,000-$28,000.
30 spots (10,000 sq. ft.): $25,000-$70,000.
100 spots (35,000 sq. ft.): $87,000-$245,000.
200 spots (70,000 sq. ft.): $175,000-$490,000.
300 spots (100,000 sq. ft.): $250,000-$700,000.

Asphalt Parking Lot Add-On Costs

Additional features can add to your total costs. Some items, such as lighting, may be a necessity for any commercial parking lot installation.

Paving: $2.50-$7 per sq. ft.
Lot Stripping: $4-$5 per 18-foot line.
Sealcoating: $0.14-$0.25 per sq. ft.
Lighting Installation: $900-$1,200 per light.
Solar Canopy/Panels: $16,580-$30,700.
Parking Lot Sensors: $200-$600 per spot sensor.
Parking Lot Bumpers: $50-$150 per bumper.

*Contact the team at Black & Gray Construction for more pricing information.

Black & Gray Asphalt Co. In Phoenix, Arizona

Doing business in the Valley since 1981 with one owner, Black & Gray Asphalt Co. has built an unmatched reputation for reliability, service, and quality workmanship. Our customers will tell you they come to Black & Gray Asphalt Co. because, no matter what the project’s size or complexity, we can do the job from start to finish. We offer complete Residential & Commercial Concrete and Asphalt Maintenance Programs. Contact us today for all your sealcoating, stripping, signage, paving, asphalt patching, speed bump, speed hump, and concrete needs today!