lot vs parking area

lot and parking area both are nouns.

Word	Noun	Adjective	Verb	Adverb
lot	Yes	No	Yes	No
parking area	Yes	No	No	No

As nouns, parking area is a hyponym of lot; that is, parking area is a word with a more specific, narrower meaning than lot:

Other hyponyms of lot include car park, park, parking lot, building site, vacant lot.

lot (noun)	parking area (noun)
anything (straws or pebbles etc.) taken or chosen at random	a lot where cars are parked
an unofficial association of people or groups
any collection in its entirety
a parcel of land having fixed boundaries
(often followed by `of') a large number or amount or extent
your overall circumstances or condition in life (including everything that happens to you)

lot (verb)	parking area (verb)
administer or bestow, as in small portions
divide into lots, as of land, for example