Almost 350 million metric tons of asphalt are produced each year. And considering 94% of all US roads are paved with asphalt, it’s no surprise that parking lots fall into that territory.
And the reason for that? Largely, it’s asphalt’s cost and durability.
So, you may be asking, how much does it cost to pave a parking lot? We’re glad you asked. In this article we’ll cover that, finding the right contractor for the job, and more.
Let’s dive in.
The Cost of Asphalt
Asphalt costs differ from region to region, even city to city, and project to project. The reason for this varies, but in general, asphalt is a cost-effective material costing anywhere from $2-$5 per square foot.
It is cheaper than concrete, almost half the cost in fact, and is durable. Unlike concrete, it does require repaving regularly as asphalt chips, cracks, and breaks.
If you’ve ever hit a pothole on the freeway, you know what we mean. Fortunately, folks often aren’t driving 65mph in commercial parking lots. As a result, there is less wear and tear on the parking lot and it’ll require less maintenance.
Commercial Asphalt Paving Prices
The cost of paving a parking lot varies pretty wildly. Asphalt prices land firmly between the $2-$5 mark across the country, but that’s not all that needs to be considered.
Here are the factors you’ll need to consider and that will affect the price:
Size of the Parking Lot
Are you surprised that the larger the lot, the more expensive the process? Likely not.
A square, 4,000 square foot parking lot can cost a meager $10,000, while a Walmart-sized 100,000 square foot commercial parking lot will set you back hundreds of thousands of dollars.
Consider how soon you need the parking lot paving done. Plan ahead. The earlier you need the commercial asphalt paving completed, the more your contractor may charge you, for overtime or for rescheduling other projects.
Finding the Right Contractor
When it comes to finding the right contractor, it’s important that they know the place you plan to pave. They need to know the city’s laws and can abide by them.
Having too little parking or non-ADA-compliant parking will set back your business. A good contractor will spot these issues a mile away and plan for them.
Meanwhile, the only cost that can be negotiated is labor price. This varies across the board. A larger company may give you a lower labor charge, but their schedule might be busier and you’ll have to delay opening your business.
Smaller companies may be able to help you sooner and thus save you money in the long run. Serving the greater Philadelphia area, RZ Contracting offers great services for businesses both big and small.
The Cost to Pave a Parking Lot
Now you know the cost to pave a parking lot. Essentially, it depends on your needs, the contractor, the location you live, and a variety of other factors that can’t be perfectly expressed here.
Our advice? Do your research, find a few great contractors that know the area and the city you’re paving the parking lot in, and compare their skill levels and costs. You’ll save some dough and have the best contractor to boot.
Once you do that, you can stop slaving (over the project) and start paving!
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