Pasadena, California, a city rich in history and culture, offers a unique opportunity for investors to capitalize on the growing demand for restaurants. With a population of approximately 140,000, Pasadena is an attractive location for restaurants, boasting a strong economy, excellent infrastructure, and a high quality of life. The city's proximity to Los Angeles, its cultural attractions, and its reputation as a hub for scientific and technological research make it an ideal location for restaurants catering to a diverse range of customers. Pasadena's restaurants can benefit from the city's many amenities, including the Rose Bowl Aquatics Center, the Rose Bowl Tennis Center, and the Pasadena Purple Cows professional futsal team, which attract visitors and locals alike. Additionally, the city's educational institutions, such as Caltech and Pasadena City College, provide a steady stream of customers for restaurants.
Pasadena's restaurant scene is complemented by the city's other property types, including Apartment Buildings, which offer a range of housing options for residents and workers; Shopping Centers, which provide a convenient location for retail and dining; Specialty Properties, which cater to specific industries and businesses; and Hotels, which accommodate visitors and tourists. The city's infrastructure, including the Pasadena Water and Power Department and the Glenarm Power Plant, ensures a reliable supply of water and power to support the growth of restaurants and other businesses. With 5 restaurants for sale in Pasadena, investors have a wide range of options to choose from, each with its unique characteristics, size, and location. Whether you're looking for a small, intimate setting or a large, bustling restaurant, Pasadena has something to offer. With an average price per square foot of $686 USD, an average size of 10,519 square feet, and an average cap rate of 4.43%, Pasadena's restaurants present a compelling investment opportunity.
What is the average cost per square foot for a restaurant in Pasadena?
The average cost per square foot for a restaurant in Pasadena is $686 USD per square foot, with an average size of 10,519 square feet and a largest size of 28,943 square feet, offering a range of options for restaurateurs looking to establish a presence in this culturally rich and economically diverse city.
What factors determine the value of a restaurant for sale in Pasadena?
When evaluating the value of a restaurant for sale in Pasadena, several key factors come into play, including:
- Location, with proximity to popular attractions like the Rose Bowl and Tournament of Roses Parade, as well as accessibility to major transportation hubs like the Los Angeles Metro A Line light rail and Hollywood Burbank Airport, influencing foot traffic and customer demographics;
- Size and layout, with the average restaurant size in Pasadena being 10,519 square feet, and larger spaces like 28,943 square feet commanding higher prices;
- Financial performance, including the average cap rate of 4.43% and the overall profitability of the business, which can impact the sale price and attract investors.
