Parking Garages
Has anyone developed or managed Parking garages? I am doing a simple back-of-the-napkin approach to a development opportunity and have no idea what operating costs are looking like. Right now I am plugging 35% OPEX. 


With construction costs at ~$20,000 a spot, and monthly revenues at ~$200, these are high yields at 35% OPEX, almost TOO high.



Any help is appreciated!
[{"id": "d8ipubg", "text": "It's just a giant locker or vending machine. \n\nThe OPEX is the easiest part... it's the initial millions of dollars investment to buy the property. Even tiny, no maintenance lot with no garage and only a money taker machine in deep ellum Dallas makes millions a year because its full most days at 100% capacity. \n\nThat initial investment though O_O seriously had this talk with my parents at 13 years old.   ", "replies": [], "depth": 1}, {"id": "d8jah1d", "text": "If it's unmanned, 35% seems about right for a back-of-the-napkin approach. Depending on the area, property taxes could move that up or down a few percentage points.", "replies": [], "depth": 1}, {"id": "d8lfut6", "text": "20k a spot seems a bit light for podium. Though it depends on the metro area", "replies": [], "depth": 1}]