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May 20, 2022

What’s The Value of a Parking Space in San Francisco?

Parking Space

The price of a parking space varies by neighborhood and type in San Francisco. Real estate agents often do their own adjustments when comparing properties with and without parking.

My rule of thumb for an independent parking space in a dense neighborhood with challenging street parking is $80,000-$100,000. So if you have a house or a condo in, say, NoPa or the Mission that has a one-car garage vs. one without that garage, you can easily comp the difference on the higher end of the range.

If the parking is tandem, my adjustment is more like $40,000 or $50,000 when comparing to a property that has no parking at all.

The situation gets a little murkier with large condo buildings downtown. Not all buildings are constructed with a parking space for each unit, and there are a fair number of buyers out there who will be fine without parking. We do have a current comp over at 88 Townsend, where owners are permitted to sell their spaces to people who don’t live in the building. The parking space for sale there is listed for $90,000 and has been on the market for 52 days.


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