Newport News, Virginia, offers a diverse range of restaurants for sale, with 3 listings available. Investing in a restaurant in Newport News can be a lucrative opportunity, as the city's strong economy, driven by the military and shipbuilding industries, provides a stable customer base. Restaurants in Newport News can cater to a variety of tastes and cuisines, from casual eateries to fine dining establishments. The city's location on the James River and its proximity to major highways and transportation hubs make it an attractive location for restaurants, with easy access to fresh seafood and other ingredients. Additionally, Newport News is home to several institutions, including Christopher Newport University, which provides a steady stream of customers. The city's amenities, such as Newport News Park and the Virginia Living Museum, also attract visitors and locals alike, creating a strong demand for restaurants. With its unique blend of history, industry, and natural beauty, Newport News is an ideal location for restaurant owners and investors.
Newport News' restaurants benefit from the city's strong economy and diverse population. The city is also home to a range of other commercial properties, including 3 apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Newport News offer a range of amenities and services, from luxury complexes to affordable housing options. Shopping centers in the city provide a variety of retail and dining options, while specialty properties, such as office buildings and warehouses, cater to the city's industrial and commercial needs. Hotels in Newport News offer comfortable accommodations for visitors and business travelers, with many options available near the city's major attractions and transportation hubs. Overall, Newport News presents a unique opportunity for investors and business owners, with its diverse range of commercial properties and strong economy.
What is the average cost per square foot for a restaurant in Newport News?
The average cost per square foot for a restaurant in Newport News is $250 USD per square foot, with an average size of 4,842 square feet and a largest size of 7,351 square feet, among the 3 available listings.
What factors determine the value of a restaurant for sale in Newport News?
When evaluating the value of a restaurant for sale in Newport News, several key factors come into play, including:
- Location, with proximity to major transportation hubs like Newport News/Williamsburg International Airport, Interstate Highway 64, and the Hampton Roads Beltway being highly desirable;
- The size and condition of the property, with average sizes ranging from 4,842 square feet to 7,351 square feet, and an average price per square foot of $250 USD;
- The restaurant's financial performance, including its average cap rate of 14.34%, as well as its revenue and profit streams, which can be influenced by the local economy, competition, and demographics.
