parcel out vs lot

parcel out is not a noun while lot is a noun.

Word	Noun	Adjective	Verb	Adverb
parcel out	No	No	Yes	No
lot	Yes	No	Yes	No

As verbs, parcel out and lot are synonyms defined as:

Other synonyms of parcel out include administer, allot, deal, deal out, dish out, dispense, distribute, dole out, mete out, shell out.

parcel out (noun)	lot (noun)
	anything (straws or pebbles etc.) taken or chosen at random
	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)

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