Peoria, Illinois, offers a unique opportunity for investors to tap into the city's rich history and diverse economy. With a population of around 113,150 people, Peoria provides a stable and growing market for restaurants. As a key location for manufacturing industries, Peoria attracts a diverse range of professionals and families, creating a demand for quality dining experiences. The city's infrastructure, including the Greater Peoria Mass Transit District and General Wayne A. Downing Peoria International Airport, makes it easily accessible for both locals and visitors. Additionally, Peoria is home to several notable institutions, such as Illinois Central College and Bradley University, which contribute to the city's cultural and educational landscape. With 3 restaurants for sale in Peoria, investors can find opportunities that fit their unique needs and goals.
Peoria's restaurants offer a range of investment opportunities, from casual eateries to fine dining establishments. With an average price per square foot of $636 USD and an average size of 5,630 square feet, investors can find properties that fit their budget and vision. The city's largest restaurant, with 14,415 square feet, offers a unique opportunity for investors looking to make a significant impact on the local dining scene. In addition to restaurants, Peoria also offers opportunities in apartment buildings, shopping centers, specialty properties, and hotels, each with its own unique characteristics and advantages. For example, Peoria's apartment buildings offer a range of amenities, including proximity to Illinois Central College and Bradley University. The city's shopping centers, such as the Westlake Shopping Center, provide a convenient location for residents and visitors alike. Specialty properties, like the Peoria Civic Center, offer a unique opportunity for investors looking to tap into the city's cultural and entertainment scene. Finally, Peoria's hotels, such as the Mark Twain Hotel, provide a comfortable and convenient location for visitors. With so many opportunities available, investors can find the perfect fit for their needs and goals in Peoria.
What is the average cost per square foot for a restaurant in Peoria?
The average cost per square foot for a restaurant in Peoria is $636 USD per square foot, with available listings totaling 3 and average restaurant sizes ranging from 5,630 square feet to 14,415 square feet.
What factors determine the value of a restaurant for sale in Peoria?
When evaluating the value of a restaurant for sale in Peoria, several key factors come into play, including:
- Location, with proximity to major transportation hubs like the General Wayne A. Downing Peoria International Airport and the Greater Peoria Mass Transit District, as well as access to main roads like Illinois Route 6 and Illinois Route 29, being highly desirable;
- The restaurant's size, with an average size of 5,630 square feet, and a maximum size of 14,415 square feet, impacting its capacity and potential revenue;
- The restaurant's financial performance, including its average price per square foot of $636 USD and average cap rate of 6.13%, which can indicate its profitability and growth potential.
