Bethlehem, Pennsylvania, is a city with a rich history and a strong economy, making it an attractive location for investors looking to purchase a restaurant. With a population of approximately 75,000, Bethlehem offers a diverse customer base for restaurants, from students and faculty at Lehigh University to employees of major corporations like Wind Creek Bethlehem and St. Luke's Hospital. The city's historic downtown area and scenic location along the Lehigh River provide a unique setting for restaurants, with many opportunities for outdoor seating and events. Bethlehem's infrastructure, including its transportation system and amenities like parks and sports facilities, also support the success of restaurants. Additionally, the city's proximity to major highways and airports makes it easily accessible to visitors and customers from surrounding areas.
Bethlehem's restaurant scene is complemented by its other commercial properties, including 3 restaurants for sale. The city's apartment buildings, shopping centers, specialty properties, and hotels also contribute to its economic landscape. For example, the Wind Creek Bethlehem casino resort is a major employer and tourist destination, while Lehigh University is a significant economic driver and source of customers for local businesses. The city's shopping centers, such as the Lehigh Valley Mall, offer a range of retail and dining options, while its specialty properties, like the Steel Stacks campus, provide unique event and cultural spaces. Bethlehem's hotels, including the Hotel Bethlehem, cater to visitors and business travelers, supporting the local economy and providing opportunities for restaurants to serve a diverse customer base.
What is the average cost per square foot for a restaurant in Bethlehem?
The average cost per square foot for a restaurant in Bethlehem is $243 USD per square feet, with an average size of 4,390 square feet and a largest size of 7,330 square feet, making it an attractive option for restaurateurs looking to establish a presence in this city with a rich history and strong economic sectors.
What factors determine the value of a restaurant for sale in Bethlehem?
When evaluating the value of a restaurant for sale in Bethlehem, several key factors come into play, including:
- Location, with proximity to major highways, such as Interstate 78 and U.S. Route 22, and accessibility to local amenities, like parks and cultural attractions, being highly desirable;
- The restaurant's size, with an average size of 4,390 square feet, and capacity to accommodate a large number of customers, impacting its overall value;
- The restaurant's financial performance, including its average cap rate of 4.55%, and sales data, which can influence its value and attractiveness to potential buyers.
