If you’ve ever eaten a bowl of cereal, you know that ratios are important. After all, you need to ensure you have the right ratio of milk to cereal. Too little milk and you’ll have to get a refill before you’re done unless you want dry cereal. Too much? Well, you’ll just have to get more cereal to avoid wasting the milk. Either way, it can spiral out of control pretty quickly.
Ratios are also important when it comes to commercial real estate (CRE), particularly when it comes to parking. There needs to be the right balance between need and availability; otherwise, you have to ensure your property is still appealing and meeting the needs of its tenants. Let’s take a look at the considerations a CRE pro must have concerning the availability of parking spots.