Lynchburg, Virginia, is a city with a rich history and natural beauty, making it an attractive location for investing in restaurants. With a population of approximately 80,000, Lynchburg offers a diverse economy, a range of cultural attractions, and a strong educational presence, including Liberty University and Randolph College. Restaurants in Lynchburg can benefit from the city's unique blend of history, education, and industry, as well as its scenic location in the foothills of the Blue Ridge Mountains. The city's infrastructure, including the Greater Lynchburg Transit Company and Lynchburg Regional Airport, provides easy access for residents and visitors alike. Additionally, Lynchburg's amenities, such as the Lynchburg Symphony Orchestra and the Academy of Fine Arts, contribute to a high quality of life, making it an attractive location for businesses and residents. The city's seven hills, scenic views, and outdoor recreational opportunities also make it an ideal location for restaurants with outdoor seating or those catering to the local tourism industry.
Currently, there are 6 restaurants for sale in Lynchburg, offering a range of investment opportunities. Restaurants in Lynchburg can benefit from the city's diverse economy, which includes industries such as nuclear technology, pharmaceuticals, and material handling. In addition to restaurants, Lynchburg also offers a range of other commercial properties, including apartment buildings, shopping centers, specialty properties, and hotels. For example, apartment buildings in Lynchburg can benefit from the city's strong educational presence, with many students and young professionals seeking housing. Shopping centers in Lynchburg can take advantage of the city's growing population and diverse economy. Specialty properties, such as office buildings and warehouses, can benefit from Lynchburg's infrastructure and access to transportation. Hotels in Lynchburg can cater to the city's tourism industry, with many visitors drawn to the city's historic landmarks and outdoor recreational opportunities. Overall, Lynchburg offers a range of investment opportunities, making it an attractive location for businesses and investors.
What is the average cost per square foot for a restaurant in Lynchburg?
For those interested in purchasing a restaurant in Lynchburg, the average cost per square foot is $241 USD per square foot, with available listings totaling 6 and average sizes ranging from 6,354 square feet to 12,000 square feet.
What factors determine the value of a restaurant for sale in Lynchburg?
When evaluating the value of a restaurant for sale in Lynchburg, several key factors come into play, including:
- Location, with proximity to major transportation hubs like Kemper Street Station and Lynchburg Regional Airport, as well as access to primary roadways like U.S. Route 29 and U.S. Highway 460, being highly desirable;
- The restaurant's size, with an average size of 6,354 square feet, and a maximum size of 12,000 square feet, impacting its capacity and potential revenue;
- Financial performance, including the average price per square foot of $241 USD and an average cap rate of 6.85%, which can influence the restaurant's overall value and attractiveness to potential buyers.
