In this paper, we find the higher-order expansion parameters α and λ of spherically symmetric parameterized Rezzolla–Zhidenko (PRZ) spacetime by using its functions of the radial coordinate. We subject the parameters of this spacetime to classical tests, including weak gravitational field effects in the solar system, observations of the S2 star that is located in the star cluster close to the Sgr A⋆, and of the frequencies of selected microquasars. Based on this spherically symmetric spacetime, we perform the analytic calculations for solar system effects such as perihelion shift, light deflection, and gravitational time delay to determine limits on the parameters by using observational data. We restrict our attention to the limits on the two higher-order expansion parameters α and λ that survive at the horizon or near the horizon of spherically symmetric metrics. The properties of the expansion of these two small parameters in PRZ parameterization are discussed. We further apply Markov Chain Monte Carlo simulations to analyze and obtain the limits on the expansion parameters by using observations of the phenomena of the S2 star. Finally, we consider the epicyclic motions and derive analytic expressions of the epicyclic frequencies. Applying these expressions to the quasiperiodic oscillations of selected microquasars allows us to set further limits on the parameters of the PRZ spacetime. Our results demonstrate that the higher-order expansion parameters can be given in the range α, λ = (−0.09, 0.09) and of order ∼10−2 as a consequence of three different tests and observations.

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