Knoxville, Tennessee, is an attractive destination for investors seeking to purchase a restaurant, with 8 listings available. Restaurants in Knoxville offer a unique blend of Southern charm and Appalachian culture, making them an appealing investment opportunity. As a hub for Appalachian culture, Knoxville attracts visitors from across the region, providing a steady stream of potential customers for restaurants. The city's economy is diversified, with major industries including real estate, finance, manufacturing, retail, and technology/research, ensuring a stable customer base. Additionally, Knoxville is home to the University of Tennessee, which brings in a large student population, further increasing the demand for restaurants. The city's infrastructure, including the Knoxville Utilities Board and Knoxville Area Transit, provides essential services, making it an ideal location for businesses. With its rich history, cultural attractions, and natural beauty, Knoxville is an excellent place to invest in a restaurant.
Knoxville's restaurant scene is characterized by its diversity, with a range of cuisines and dining options available. The city's proximity to the Great Smoky Mountains National Park and its scenic beauty make it an attractive destination for tourists, who often seek out local eateries and restaurants. In addition to restaurants, Knoxville is home to various other property types, including Apartment Buildings, which offer a range of housing options for residents and students; Shopping Centers, which provide convenient retail spaces; Specialty Properties, which cater to specific business needs; and Hotels, which accommodate visitors and travelers. The city's unique blend of history, culture, and natural beauty makes it an attractive location for businesses and investors alike. With its diverse economy, rich cultural scene, and stunning natural surroundings, Knoxville is an excellent place to invest in a restaurant or explore other business opportunities.
What is the average cost per square foot for a restaurant in Knoxville?
The average cost per square foot for a restaurant in Knoxville is $487 USD per square foot, with an average size of 5,861 square feet, and a largest size of 16,180 square feet, among the 8 available listings.
What factors determine the value of a restaurant for sale in Knoxville?
The value of a restaurant for sale in Knoxville is determined by a combination of factors, including:
- Location, with proximity to major transportation hubs, universities, and tourist attractions, such as the University of Tennessee and the Great Smoky Mountains National Park, increasing the restaurant's visibility and foot traffic;
- The restaurant's size, with an average size of 5,861 square feet, and condition, including the age and quality of equipment, fixtures, and furniture;
- Financial performance, including the restaurant's average cap rate of 5.02% and sales data, such as revenue and profit margins, which can impact the restaurant's value and desirability to potential buyers.
