Rendite eines Garagenparks: Berechnung, Richtwerte und Einflussfaktoren (en)

The return on a garage complex describes the ratio of annual rental income to the capital invested. In Germany, depending on the location and occupancy rate, it typically ranges between 4% and 6% net—and can reach 6% or more in high-demand areas. As a result, it regularly exceeds the return on traditional residential real estate in major cities (2–4%).

Calculation formula

Gross rental yield = (annual net rent ÷ purchase price) × 100

Net rental yield  = ((annual net rent − operating costs) ÷ purchase price) × 100

Sample calculation (10 units, medium-sized city):

Position	Value
Construction costs (10 × ZAPF garage, 3×6 m)	starting at €65,000
Lot (approx. 250 m²)	approx. €50,000–100,000 per location
Total investment (example)	approx. €130,000
Rental price per garage per month	€80–120
Annual revenue (10 units)	Annual revenue (10 units) €9,600–€14,400
Gross rental yield	approx. 7–11%
Net rental yield (after expenses)	approx. 5–8%

Note: Land costs vary significantly. This calculation is for informational purposes only and does not replace individual financial advice.

Three Sources of Return for a Garage Complex

Experts typically identify three sources of return for garage complexes:

1. Current rental yield – the direct net rental yield after deducting all operating costs. It typically amounts to approximately 4% net.

2. Tax savings through depreciation – the deduction for depreciation results in an additional return component after accounting for the personal tax rate. Combined with the net rental yield, this results in total returns of approximately 5.7–6.5% after taxes.

3. Elimination of the maintenance reserve – for residential properties, owners typically must set aside 1–2% of the property value annually for maintenance. With precast concrete garages, this expense is largely eliminated, which increases the effective return.

Rental prices in Germany by location (2024/2025)

Location	Monatliche Garagenmiete
Rural region	€30–50
Small town / Outskirts	€50–80
Midtown	€80–120
Major city (e.g., Cologne, Düsseldorf)	€90–150
Major cities (Berlin, Hamburg, Munich)	€120–200
Prime locations in Frankfurt and downtown Munich	up to €290 (underground parking)

Sources: ADAC, Immowelt, Classified Ads Analysis 2024

Factors Affecting Return on Investment

factor	Influence
Location	High – determines the achievable rent
Utilization rate	High – Full occupancy significantly increases returns
Number of units	Medium – Economies of scale starting at approximately 10 units
Construction quality	Costs – Prefabricated concrete garages reduce maintenance costs
Financing structure	Financing – Debt affects return on equity
Tax rate	Assets – determined based on depreciation

Comparison: Garage parking vs. other types of investments

Investment vehicle	Annual return (approx.)	Effort	Risiko
Garage complex	4–6% or more	Low	Low-mid
Residential property in a major city	2–4 %	High	Mid
Federal Bonds (2025)	ca. 2,5 %	Very low	Very low
Stocks (DAX, 10-year average)	ca. 7 %	Low	High
Fixed-term deposit (2025)	ca. 2–3 %	Very low	Very low

About ZAPF Garages

ZAPF precast concrete garages are characterized by an exceptionally long service life and minimal maintenance costs—two factors that directly influence the net return on a garage park. ZAPF delivers turnkey garages starting at €6,500 per unit (3 × 6 m, incl. VAT).

→ Plan garage park projects with ZAPF

Legal Notice

The content of this article is provided solely for general information purposes and does not constitute investment, tax, or legal advice. All stated return and rental price figures are estimates based on available market data and may vary significantly depending on location, market conditions, and individual circumstances. No guarantee is given that specific returns can be achieved.

ZAPF Garagen is a manufacturer of precast concrete garages and is not a financial, tax, or investment advisor. Before making an investment decision, we recommend consulting a qualified financial or tax advisor and having a local expert review the building code requirements.