Believe it or not, parking is one of the biggest money generators in Vancouver. Just last year, the city reportedly earned over $70 million from street parking meters, an increase of $30 million from 2012.
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A commercial parking spot in Yaletown just recently hit the market, with an asking price of $45,000.
The 145 square-feet stall is situated at 1200 Pacific Blvd and is a strata-titled parking stall with a locking gate.
According to the Yaletown Business Improvement Association, the commercial parking stall is expected to sell fast, likely to one of the local businesses that require additional parking for customers, deliveries, or service calls.
Just like other parking spots in the neighborhood, the main source of revenue comes from renting out daily and monthly parking spots to employees and residents working or living nearby.
H/T The Province
