Restaurants for sale in Midland, Texas, offer a unique investment opportunity in a city that has established itself as a major center for American oil and natural gas production. With a strong economy driven by petroleum exploration and extraction, regional telecommunications, and distribution, Midland provides a solid foundation for businesses to thrive. Restaurants, in particular, can capitalize on the city's growing population of around 130,000 people, who frequent popular spots like the Midland International Air and Space Port, Loop 250, and Interstate 20. The city's amenities, including healthcare facilities, parks, and sports venues, such as Midland Memorial Hospital, Hogan Park, and the Scharbauer Sports Complex, make it an attractive location for restaurants to cater to the local community. Additionally, Midland's educational institutions, including Midland College and the Texas Tech University Health Sciences Center Permian Basin Campus, provide a steady stream of potential customers.
With 3 restaurants for sale in Midland, investors have a range of options to choose from. Midland's restaurants can benefit from the city's strong economy, which is driven by major employers like Chevron, Occidental Petroleum Corporation, and Pioneer Natural Resources. The city's arts scene, featuring institutions like the Midland-Odessa Symphony and Chorale and the Midland Community Theatre, also provides a unique opportunity for restaurants to cater to patrons attending cultural events. In addition to restaurants, other property types available in Midland include Apartment Buildings, which can capitalize on the city's growing population, Shopping Centers, which can benefit from the city's strong retail sector, Specialty Properties, which can cater to the city's unique needs, and Hotels, which can serve the city's visitors. Overall, Midland's diverse economy and amenities make it an attractive location for businesses, including restaurants, to establish themselves and grow.
What is the average cost per square foot for a restaurant in Midland?
The average cost per square foot for a restaurant in Midland is $420 USD per square foot, with an average size of 3,943 square feet and a largest size of 7,816 square feet, making it an attractive option for entrepreneurs looking to establish a presence in this oil and natural gas production hub.
What factors determine the value of a restaurant for sale in Midland?
When evaluating the value of a restaurant for sale in Midland, several key factors come into play, including the property's location, size, and condition, as well as its financial performance and market demand.
- The location of the restaurant, particularly its proximity to major highways, such as I-20, and local amenities, like Hogan Park, can significantly impact its value, with more desirable locations commanding higher prices.
- The size of the restaurant, ranging from 3,943 square feet to 7,816 square feet, also plays a crucial role, as larger spaces can accommodate more customers and generate higher revenue.
- Additionally, the financial performance of the restaurant, including its average cap rate of 6%, and market demand, influenced by the local economy and population of around 130,000, can also impact its value, with more profitable and in-demand restaurants fetching higher prices.
