Orem, Utah, offers a diverse range of restaurants for sale, with 2 listings available. Investing in a restaurant in Orem can be a lucrative venture, as the city's strong economy and growing population of around 100,000 residents provide a solid customer base. Restaurants in Orem can represent a variety of investments, from casual eateries to fine dining establishments, and can cater to the diverse tastes of the local community. Orem's amenities, such as the Orem Splash Pad at Palisade Park and City Center Park, which hosts the annual Orem Summerfest, concerts, and cultural events, make it an attractive location for restaurants. The city's infrastructure, including the Frontrunner train and UVX bus rapid transit system, provides easy access to the surrounding areas, making it an ideal location for restaurants that cater to both locals and visitors. Additionally, Orem's proximity to Utah Valley University and Stevens-Henager College ensures a steady stream of students and faculty looking for dining options. With its strong economy, diverse demographics, and attractive amenities, Orem is an excellent place to invest in a restaurant.
Orem's restaurant scene is diverse and dynamic, with a range of options available to suit different tastes and budgets. The city's location near Utah Lake and the Mount Timpanogos/Wasatch Mountain range provides a unique setting for restaurants with scenic views. In addition to restaurants, Orem also offers a range of other property types, including apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Orem offer a convenient and comfortable living option for residents, while shopping centers provide a hub for retail and commerce. Specialty properties, such as office buildings and warehouses, cater to the city's growing business community, and hotels provide accommodations for visitors and travelers. With its diverse range of property types and amenities, Orem is an attractive location for investors and business owners alike. The city's strong economy, growing population, and attractive amenities make it an excellent place to invest in a restaurant or other property type.
What is the average cost per square foot for a restaurant in Orem?
Based on current listings, the average cost per square foot for a restaurant in Orem is $1,849 USD per square foot, with an average size of 2,565 square feet and a largest size of 4,620 square feet, providing a range of options for restaurateurs looking to establish or expand their business in this city.
What factors determine the value of a restaurant for sale in Orem?
The value of a restaurant for sale in Orem is determined by several key factors, including:
- Location, with proximity to major transportation hubs like the Frontrunner train and UVX bus rapid transit system, as well as high-traffic areas like University Avenue and State Street, increasing the restaurant's visibility and accessibility;
- The restaurant's size, with an average size of 2,565 square feet, and a maximum size of 4,620 square feet, affecting its capacity and operational efficiency;
- Financial performance, including the average price per square foot of $1,849 USD and an average cap rate of 5.32%, which impact the restaurant's profitability and return on investment.
