Parma, Ohio, a city located on the southern edge of Cleveland, offers a unique opportunity for investors to own a piece of the local dining scene with its selection of restaurants for sale. With a strong focus on safety, a growing commercial sector, and a diverse economy, Parma is an attractive location for businesses to thrive. Restaurants in Parma can cater to a variety of tastes, from traditional Polish and Ukrainian cuisine to modern American fare, making them an excellent investment opportunity. The city's amenities, such as the University Hospitals Parma Medical Center and West Creek Reservation, provide a convenient and attractive environment for residents and visitors alike. Additionally, Parma's location near major roads like I-480 and Pearl Road ensures easy access to surrounding areas, making it an ideal spot for restaurants to attract a wide customer base. The city's rich history and cultural events, such as the Ukrainian Independence Day parade and Polish Constitution Day parade, also contribute to its appeal as a dining destination.
Currently, there are 3 restaurants for sale in Parma, offering a range of options for investors. These properties can be found in various locations throughout the city, including the Ukrainian Village and Polish Village commercial districts. In addition to restaurants, Parma also offers other investment opportunities, such as apartment buildings, shopping centers, specialty properties, and hotels. For example, apartment buildings in Parma can provide a steady stream of rental income, while shopping centers like The Shoppes at Parma offer a mix of retail and dining options. Specialty properties, such as medical offices, can also be found in the city's commercial districts. Hotels in Parma, meanwhile, cater to visitors and business travelers, providing a convenient and comfortable place to stay. With its diverse economy and range of investment opportunities, Parma is an attractive location for businesses and investors alike.
What is the average cost per square foot for a restaurant in Parma?
The average cost per square foot for a restaurant in Parma is $1,824 USD per square foot, with an average size of 3,186 square feet and a largest size available of 5,983 square feet, among the 3 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Parma?
When evaluating the value of a restaurant for sale in Parma, several key factors come into play, including:
- Location, with proximity to major roads like West 130th Street, Ridge Road, and Broadview Road, as well as access to public transportation, being highly desirable;
- The restaurant's size, with an average size of 3,186 square feet, and a maximum size of 5,983 square feet, impacting its capacity and potential revenue;
- The restaurant's financial performance, including its average price per square foot of $1,824 USD and average cap rate of 5.88%, which can indicate its profitability and potential for growth.
