Durham, North Carolina, is a prime location for investing in restaurants, with 5 available listings offering a range of opportunities. Restaurants in Durham are a great investment due to the city's strong economy, driven by the healthcare and pharmaceutical industries, and its growing population of around 280,000 people. As a hub for education and research, Durham attracts a diverse crowd of students, professionals, and families, creating a demand for a variety of dining options. The city's amenities, such as the Durham Bulls Athletic Park, the Carolina Theatre, and the Nasher Museum of Art, make it an attractive destination for both locals and tourists. Additionally, Durham's infrastructure, including its transportation services and major roads, makes it easily accessible and convenient for businesses to operate. The city's geography, with its flat topography and rolling hills, also provides a unique setting for restaurants to thrive.
Restaurants in Durham offer a unique blend of Southern charm and urban sophistication, catering to a diverse range of tastes and preferences. With institutions like Duke University and North Carolina Central University, Durham is a hub for education and research, attracting a crowd of students, professionals, and families. The city's downtown area has undergone significant revitalization efforts, attracting businesses, startups, and cultural venues. In addition to restaurants, Durham also offers a range of other property types, including Apartment Buildings, Shopping Centers, Specialty Properties, and Hotels, each with its own unique characteristics and investment opportunities. For example, Apartment Buildings in Durham offer a range of options for investors, from luxury complexes to affordable housing. Shopping Centers in Durham provide a convenient location for retailers, with access to a large customer base. Specialty Properties, such as office spaces and warehouses, cater to the city's growing industries. Hotels in Durham offer a range of options for travelers, from budget-friendly motels to luxury resorts. Overall, Durham's diverse range of property types and investment opportunities make it an attractive location for investors.
What is the average cost per square foot for a restaurant in Durham?
The average cost per square foot for a restaurant in Durham is $852 USD per square foot, with an average size of 4,287 square feet and a largest size of 9,790 square feet, among the 5 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Durham?
When evaluating the value of a restaurant for sale in Durham, several key factors come into play, including:
- Location, with proximity to major attractions like Duke University, the Durham Bulls Athletic Park, and the American Tobacco Historic District, as well as accessibility to major roads like NC 147, U.S. 15-501, I-85, and I-40, playing a significant role in determining foot traffic and customer base;
- The restaurant's physical characteristics, such as its average size of 4,287 square feet, with larger spaces like 9,790 square feet potentially commanding higher prices;
- Financial performance, including the average cap rate of 5.6% and the average price per square foot of $852 USD, which can impact the restaurant's overall value and desirability to potential buyers.
