Norman, Oklahoma, is a prime location for investing in restaurants, with a population of approximately 130,000 residents and a strong presence of the University of Oklahoma. Restaurants in Norman offer a unique opportunity for entrepreneurs to capitalize on the city's diverse economy, which is driven by scientific research, healthcare, education, technology, and manufacturing. With a range of amenities, including the Norman Regional Health System hospitals, Griffin Community Park Sports Complex, and the University of Oklahoma sports facilities, restaurants can cater to a wide range of customers. Additionally, the city's arts and culture scene, supported by institutions like the Fred Jones Jr. Museum of Art and the Sam Noble Oklahoma Museum of Natural History, provides a rich environment for restaurants to thrive.
Norman's restaurants offer a diverse range of investment opportunities, from casual eateries to fine dining establishments. With 3 restaurants for sale, investors can find the perfect opportunity to suit their needs. The average price per square foot for restaurants in Norman is $550 USD, and the average size is 3,865 square feet, with the largest available space being 5,525 square feet. Apartment Buildings, Shopping Centers, and Specialty Properties are also available for investment in Norman, offering a range of opportunities for entrepreneurs. Hotels, with their proximity to the University of Oklahoma and the city's major transportation hubs, including Will Rogers World Airport and Max Westheimer Airport, provide another attractive option for investors. Overall, Norman's unique blend of education, research, and culture makes it an attractive location for investing in restaurants and other commercial properties.
What is the average cost per square foot for a restaurant in Norman?
The average cost per square foot for a restaurant in Norman is $550 USD per square feet, with an average size of 3,865 square feet and a largest size of 5,525 square feet, among the 3 available listings.
What factors determine the value of a restaurant for sale in Norman?
The value of a restaurant for sale in Norman is determined by a combination of factors, including:
- Location, with proximity to the University of Oklahoma, downtown Norman, and major highways like Interstate 35 and U.S. Highway 77 being highly desirable;
- Financial performance, such as annual sales, profit margins, and cash flow, which can impact the restaurant's ability to attract and retain customers;
- Physical condition and amenities of the property, including the size and layout of the dining area, kitchen, and storage spaces, as well as the presence of outdoor seating, parking, and other features that enhance the customer experience.
Currently, there are 3 available listings of restaurants for sale in Norman, with an average price per square foot of $550 USD, an average size of 3,865 square feet, and a largest size of 5,525 square feet. The average cap rate for these listings is 5.25%.
