Odessa, Texas, is a city that offers a unique blend of small-town charm and big-city amenities, making it an attractive location for investors looking to purchase a restaurant for sale. With a population of around 120,000, Odessa provides a sizable customer base for restaurants, and its strong economy, driven by the oil industry, ensures a consistent flow of customers. Restaurants in Odessa can cater to a diverse range of tastes, from classic Tex-Mex to modern fusion cuisine, and the city's many amenities, including the Ector County Library, Murry H. Fly Learning Resource Center, and The J. Conrad Dunagan Library, make it an attractive location for families and young professionals alike. Odessa's infrastructure, including Interstate 20, US 385, and SH 191, provides easy access to the city, and its two airports, Midland International Air and Space Port and Odessa-Schlemeyer Field, offer convenient travel options. With the University of Texas Permian Basin and Texas Tech University Health Sciences Center Permian Basin Campus located in the city, Odessa is also a hub for education and healthcare, attracting students, faculty, and medical professionals who appreciate a good meal out.
Odessa's restaurant scene is diverse and eclectic, with everything from casual diners to upscale eateries. With 4 restaurants for sale in Odessa, investors have a wide range of options to choose from. In addition to restaurants, Odessa also offers a range of other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. The city's apartment buildings, such as those in the Parks Legado development, offer a convenient and comfortable living option for residents, while shopping centers like Music City Mall provide a one-stop shopping experience. Specialty properties, such as the Globe of the Great Southwest, offer a unique cultural experience, and hotels, like those near the Midland International Air and Space Port, cater to travelers and business visitors. Overall, Odessa's diverse range of investment opportunities, combined with its strong economy and attractive amenities, make it an attractive location for investors looking to purchase a restaurant or other property.
What is the average cost per square foot for a restaurant in Odessa?
For those interested in investing in the restaurant industry in Odessa, it's essential to know that the average cost per square foot for a restaurant in this West Texas city is $509 USD.
What factors determine the value of a restaurant for sale in Odessa?
The value of a restaurant for sale in Odessa is determined by a combination of factors, including:
- Location, with proximity to major highways, universities, and shopping centers, such as Music City Mall, being a significant draw;
- Size and layout, with an average size of 2,366 square feet and a maximum size of 3,500 square feet, affecting the seating capacity and overall ambiance;
- Financial performance, including the average cap rate of 6.24% and the average price per square foot of $509 USD, which can impact the restaurant's profitability and desirability to potential buyers.
