Transforming your vacant property into a functional semi truck parking lot can be a brilliant business idea. Truck parking lots are in incredibly high demand, and a well-run lot can prove highly profitable.
However, before you welcome your first weary trucker into your parking lot, you must first build one. That means investing in the necessary permits, appropriate paving, amenities, security measures, and labor.
We won’t pull the wool over your eyes – starting a semi truck parking can get costly. How costly? That depends on several factors…
Truck Parking Lot Cost Factors
It’s practically impossible to estimate how much building a truck parking lot would cost. That’s because the costs involved depend on numerous factors, starting with acquiring the necessary permits and ending with building the chosen amenities.
Local Permits and Approvals
To start your truck parking lot business, you must first obtain the necessary permits and approvals. Without them, your construction will most likely be shut down, even leading to possible fines.
Their number and costs will vary from state to state, so be sure to look into the zoning laws, land use regulations, transportation codes, and local licenses for development, construction, and operation.
Truck Parking Size
The bigger the lot, the more it will cost to build it. On average, you should expect to pay between $3 to $7 per square foot to pave the parking area, depending on the type of paving material you choose.
How large should a truck parking lot be? A standard dimension for one semi-trailer parking space is 55 ft x 14 ft (length/width). For a semi-trailer with a truck, these dimensions increase to 75 ft x 14 ft.
Use our guide to help calculate the dimensions of your lot. Based on that, it will be much easier to estimate the cost of paving the area along with the expenses of preparing the surface, such as leveling, fencing, space marking, etc.
Security Features
Investing in proper security measures is a must-do. Without ensuring safety, you won’t be able to attract truckers to stay at your parking lot overnight. It will also increase the risk of cargo getting stolen or damaged, exposing you to potential lawsuits and fines.
Long story short, we wouldn’t recommend looking for ways to save money here. To keep your truck parking lot secure, be sure to invest in proper fencing, a 24/7 surveillance system, and appropriate lighting. You might also want to hire a security company. Oh, and let’s not forget about investing in proper insurance.
All this might seem like a lot. Trust us, though, securing your truck parking lot should be the number one priority. Sure, it will cost you much more, but it will prove invaluable in the long run, helping you attract more truckers and protect you from potential lawsuits and hefty fines.
Amenities
There are many amenities you can include in your semi truck yard. If we were to choose the most important truck parking amenities, these would be a restroom, showers, and a bar or restaurant. Many truck parking lots also have on-site mechanic/service stations, convenience stores, or weigh stations.
Naturally, the more amenities you want, the higher the cost of building them. Choose the amenities that you’d like to build carefully. For instance, if your parking lot is located near a larger store or a restaurant, having your own bar or convenience store doesn’t make much sense.
The absolute must-haves are restrooms, showers, and security amenities. These are the first-need amenities that every trucker wants from a parking lot. Investing in those practically guarantees truck drivers will park at your lot.
You can then gradually expand the variety of amenities offered as your parking lot starts generating a steady income. Don’t rush, especially if you’re on a tight starting budget.
Labor
We assume you won’t be building your truck parking lot with your own hands. In that case, you will also need to add labor costs to your estimate. These can add a significant amount to your already large pile of required construction costs.
How much should you expect to pay? It’s hard to tell as labor rates depend on numerous factors, such as your location or chosen contractor. Our suggestion is to do your research. Look at various contractors in your area and contact them for estimates. Then, create a list and pick the contractor that best fits your needs.
Is Building a Truck Parking Lot Worth It?
Considering all the costs mentioned above, building a truck parking lot can cost well over $500,000. That’s for the basic lot, without fancy amenities. Once we add those in, it’s not uncommon for a semi-truck parking lot to cost over $1 million.
So yes, it’s not surprising that you might have second thoughts. However, while it might seem like a lot, building a well-functioning truck parking lot can provide an excellent revenue stream with relatively low maintenance costs.
First of all, the ongoing truck parking shortage means reliable truck parking lots are in mighty high demand. This means that even without major investments, you should still be able to attract many truckers and generate a satisfactory income.
Secondly, once built, your lot won’t require that much attention. Maintenance fees usually include security, cleaning, and fee collection, whereas marketing costs are minimal compared to many other businesses.
Finally, in 2023, the US government introduced the Truck Parking Safety Improvement Act, which aims to tackle the ongoing truck parking shortage crisis by giving out grants to new and existing truck parking businesses. If you play your cards right, you can use this program to minimize the amount you spend on building the parking lot from your pocket.
Wrapping Up
Although starting a semi-truck parking lot business isn’t cheap, running it can be incredibly profitable and rewarding. And to maximize your potential returns, be sure to list your available parking at Truck Parking Club.
Our app connects property owners with truck drivers who can use it to quickly and effortlessly find available parking spots across the US. By listing your parking yard at Truck Parking Club, you will be able to reach more potential truckers, increasing the chances of more drivers opting for parking at your location.
Become a Property Member today. Create your free account and maximize the return on your truck parking investment!
The information published herein is for general informational purposes only. Truck Parking Club does not make any representations or warranties about the completeness, reliability, legality, and accuracy of this information. Any reliance placed on such material is strictly at the user’s own risk. Truck Parking Club shall not be responsible for any losses or damages incurred in connection with the information published herein.
