Restaurants in Farmington Hills, Michigan, offer a unique investment opportunity for those looking to capitalize on the city's strong economy and high quality of life. With a population of around 83,986 residents, Farmington Hills provides a stable customer base for restaurants. Restaurants can be a solid investment, as they offer a tangible product and can be a staple in the community. In Farmington Hills, restaurants can benefit from the city's affluent neighborhoods, rolling hills, and high household net worth. The city's diverse economy, with major companies like Nissan, Hitachi Automotive Systems Americas, Inc., and Panasonic Automotive Systems, also provides a steady stream of customers. Additionally, the city's amenities, such as Beaumont Hospital - Farmington Hills, Heritage Park, and Riley Skate Park, make it an attractive location for restaurants. With its proximity to downtown Detroit, Farmington Hills is also a great location for restaurants looking to attract visitors from the surrounding area.
Farmington Hills is home to 3 restaurants for sale, offering a range of investment opportunities. The average price per square foot for these restaurants is $313 USD, with an average size of 5,105 square feet. The largest restaurant available is 7,800 square feet. In addition to restaurants, Farmington Hills also offers other investment opportunities, such as apartment buildings, which can provide a steady stream of rental income. Shopping centers, like the ones found along Orchard Lake Road and 12 Mile Road, offer a mix of retail and dining options. Specialty properties, like the Holocaust Memorial Center, can provide a unique investment opportunity. Hotels, like the ones found near I-696 and I-275, can capitalize on the city's tourism industry. Overall, Farmington Hills offers a diverse range of investment opportunities, making it an attractive location for investors.
What is the average cost per square foot for a restaurant in Farmington Hills?
According to current listings, the average cost per square foot for a restaurant in Farmington Hills is $313 USD per square foot, with an average size of 5,105 square feet and a largest size of 7,800 square feet, making it an attractive option for entrepreneurs and investors looking to establish a presence in this affluent city.
What factors determine the value of a restaurant for sale in Farmington Hills?
When evaluating the value of a restaurant for sale in Farmington Hills, several key factors come into play, including:
- Location, with proximity to major thoroughfares like M-5, Orchard Lake Road, and I-696, as well as access to local amenities like Beaumont Hospital and Heritage Park, influencing foot traffic and customer accessibility;
- Size and layout, with an average size of 5,105 square feet and a maximum size of 7,800 square feet, affecting seating capacity, kitchen efficiency, and overall operational functionality;
- Financial performance, including the average price per square foot of $313 USD and an average cap rate of , which impact the restaurant's profitability and potential for return on investment.
