![]() The asphalt overlay cost depends on a variety of factors. How Much Does Asphalt Overlay Cost for Commercial Properties? Safety - worn-out and damaged asphalt is a safety hazard for both drivers and pedestrians.Drainage - if asphalt overlay is done correctly, it improves drainage and prevents pothole formation.Smaller commercial driveways can stay intact for up to 30 years. Longevity - with the right driveway and parking lot maintenance, resurfaced asphalt pavement can last for many years.Just like sealcoating, overlay creates a smooth and attractive finish. Excellent appearance - resurfaced asphalt looks brand new, making your commercial property more appealing to clients and visitors.Benefits of Asphalt Overlayīesides being a cost-efficient method of repairing and improving your asphalt, overlay comes with such benefits as: This can keep the surface in top shape for many years and help you avoid costly repairs. If you are repaving your commercial parking lot or driveway, consider sealcoating it as well. The average cost of seal coating is $0.14 to $0.25 per square foot. However, a sealcoat can’t be applied to damaged asphalt. It keeps water and heat away from the pavement, thus improving its longevity. Seal coating involves putting a protective layer over the existing asphalt. The approximate cost per square foot varies from $3 to $6. Overlay takes less time and fewer materials to complete. Usually, you would need to pay about $6 to $10 per square foot. Repaving is a time-consuming and expensive process since it involves removing the entire asphalt surface and replacing it with fresh layers. Experienced contractors who have long-standing relationships with asphalt vendors are likely to offer a better price on commercial projects than smaller companies would. The asphalt overlay costs also depend on the contractor you choose. Depending on the state you live in, labor costs may vary. LocationĪsphalt paving and resurfacing expenses include labor costs. The more damage you need to repair the less obvious the price difference between resurfacing and repaving becomes. This usually increases the total cost of asphalt resurfacing. If your asphalt is seriously damaged, you need to repair the base before applying a new layer. Asphalt material costs about $100 to $200 per ton. For long-term results, you need to apply a thicker layer of asphalt. The more milling you need to do, the thinner your asphalt base becomes. The thickness depends on the initial condition of the surface, such as potholes, cracks, and other damage. If you need to install a thick top layer, be ready for bigger expenses. ![]() While for small driveways repaving could be cheaper than overlaying, for large parking lots, resurfacing is a huge money-saver. For large projects, the cost can go down by as much as 50%. The bigger your parking lot or driveway is, the more money you can save on resurfacing. The average cost of overlay depends on several factors. Which Factors Affect Asphalt Overlay Costs? Keeping milling costs in mind, overlaying extra thin asphalt may not always be cost-efficient. Thickness - the thinner the existing pavement is, the thicker the overlay should be.In such a case, repaving could be less expensive. Condition - if the asphalt is severely damaged, milling may be too costly.Size - since site preparations are the costliest part of the overlaying process, for small driveways, it may be cheaper to opt for new asphalt paving.Is Asphalt Overlay Cost-Effective for Your Commercial Property?īefore opting for asphalt overlay, you need to determine if it’s the right option for your commercial property. Accordingly, you wouldn’t have to face any serious downtime. Besides reducing expenses, the process isn’t as time-consuming as repaving. The thickness may vary, but it is generally about 1.5″ to 2″.Īsphalt overlay is a cost-effective choice for commercial parking lots and driveways. Overlay - once the surface is ready, the paving contractor applies a new layer of asphalt.Repair - if the base layer of your asphalt driveway or parking lot has numerous cracks and potholes, it requires repair before overlay for better bonding and longevity.This ensures proper bonding of the new layer to the old structure. Milling - before applying new asphalt, the damaged top layer needs to be removed.Extensive structural damage may mean that your only choice is repaving. Evaluation - not all asphalt surfaces are subject to overlay.However, a seriously deteriorated pavement may require milling and repair before overlaying. Overlaying is possible for extremely damaged asphalt surfaces. Instead of breaking down the old asphalt pavement entirely and replacing it with a new one, by overlaying, you can use the existing surface as the foundation for the new pavement. Asphalt overlay involves applying a new layer of asphalt to the old deteriorating surface.
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