The fee levied per space for utilizing the parking facilities.
By Angel Campa, Founder · Updated March 2026
Monthly parking costs can significantly increase total occupancy expense, especially in urban markets. A tenant with 20 parking spaces at $250/month pays $60,000 annually -- potentially 10-15% of base rent. If parking costs escalate at a higher rate than base rent, total occupancy cost grows faster than expected. Parking fees should be modeled separately from base rent and CAM when evaluating total lease economics.
In the "Parking" section, stated as a per-space monthly rate. Look for escalation provisions (annual increases), whether the rate differs between reserved and unreserved spaces, and whether validation or visitor parking is included.
Lextract uses a combination of AWS Textract OCR and Claude AI to identify and extract the monthly parking cost from your lease PDF. The AI searches for all pages of the document, then assigns a confidence score based on OCR quality and extraction certainty. Fields with lower confidence are flagged for human review.
Parking Ratio
The number of spaces allocated per 1,000 square feet of leased space.
Unreserved Spaces
The raw number of non-specific parking spaces granted to the tenant.
Reserved Spaces
The number of explicitly designated, exclusive parking stalls for the tenant.
Trailer Parking
The number of oversized spaces dedicated to industrial semi-truck trailers.
Most parking agreements include annual escalations, either as a fixed percentage (3-5%), CPI-linked, or adjusted to market rates. Some leases fix parking costs for the initial term. Tenants should negotiate a cap on annual parking cost increases to prevent unexpected budget overruns.
Generally no. Parking costs for tenant-specific spaces are billed directly to the tenant, not included in CAM. However, maintenance of the parking lot itself (lighting, repaving, snow removal) is typically included in building operating expenses and passed through as part of CAM charges.
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