How to Calculate Parking Revenue?

Factors to Consider:

1. Total Parking Spaces: There are 40 parking spaces available.

2. Rent per Parking Spot: The potential rent per spot is $110 per month.

3. Occupancy Rate: The occupancy rate is 40%.

4. Fixed Revenue Percentage: 50% of the total parking revenue is fixed.

Calculation Process:

To calculate the parking revenue collected, we need to follow these steps:

Fixed revenue = Total parking spaces * Rent per spot * Occupancy rate * Fixed revenue percentage

Fixed revenue = 40 * $110 * 0.4 * 0.5 = $880

Variable revenue = (Total parking spaces * Rent per spot * Occupancy rate) - Fixed revenue

Variable revenue = (40 * $110 * 0.4) - $880 = $1760 - $880 = $880

Total parking revenue = Fixed revenue + Variable revenue

Total parking revenue = $880 + $880 = $1760

Therefore, based on the given data, the parking revenue collected is $1760 per month.