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Sharing power assets between transportation and power system is the focus of V2G that can create a compelling new economics. Projected V2G penetration levels across utility customers are a promising clue that V2G may dominate the market in the near future. This will herald evolution of V2G parking lots. This paper describes mathematical model for estimating the electric power capacity of a V2G parking lot system. The electric vehicle demand/supply model was formulated as a queuing theory problem, exhibiting stochastic characteristics. This paper addresses the modeling of V2G power demand and supply as well as evaluation of its electricity market potentials. Promising simulation results are gained leading to a claim that V2G electric power capacity can be substantial with attractive ancillary services revenue opportunities. The proposed model was tested using Tesla Roadster EV and PHEV versions. Results could be useful for power system software developers seeking base case data capacity estimation of V2G parking lots. An expression for grid gain factor was developed, and analysis showed that 40.3% optimal gain factor is obtainable.