Pharr, Texas, is an attractive location for investors looking to purchase a restaurant, with its growing population and strategic location along the Rio Grande. Restaurants in Pharr offer a unique opportunity for entrepreneurs to capitalize on the city's diverse economy, which is supported by industries such as trade, agriculture, and healthcare. As a restaurant owner in Pharr, you can benefit from the city's proximity to Mexico, which provides access to a large and diverse customer base. Additionally, Pharr's infrastructure, including the Pharr-Reynosa International Bridge, makes it an ideal location for restaurants that cater to travelers and locals alike. The city's amenities, such as the Pharr Memorial Library and the University of Texas Rio Grande Valley, also contribute to its appeal as a restaurant location. With its rich cultural heritage and annual events like the Tejano Music Festival, Pharr is a great place to establish a restaurant that showcases the city's unique flavor.
Pharr is home to 4 restaurants for sale, offering a range of investment opportunities. The average price per square foot for restaurants in Pharr is $745 USD, with an average size of 4,382 square feet. The largest restaurant for sale in Pharr is 4,840 square feet. In addition to restaurants, Pharr also offers other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, apartment buildings in Pharr offer a stable source of income, while shopping centers provide a hub for retail activity. Specialty properties, such as office buildings and warehouses, can cater to the city's growing business sector. Hotels in Pharr, meanwhile, can capitalize on the city's tourism potential, with attractions like the Pharr-Reynosa International Bridge and the University of Texas Rio Grande Valley. Overall, Pharr's diverse economy and infrastructure make it an attractive location for investors looking to purchase a restaurant or other commercial property.
What is the average cost per square foot for a restaurant in Pharr?
The average cost per square foot for a restaurant in Pharr is $745 USD per square foot, with available listings totaling 4 and average sizes ranging from 4,382 square feet to 4,840 square feet.
What factors determine the value of a restaurant for sale in Pharr?
When evaluating the value of a restaurant for sale in Pharr, several key factors come into play, including:
- the average price per square foot, which currently stands at $745 USD, and the average size of restaurants for sale, which is approximately 4,382 square feet;
- the average cap rate, which is 5.75%, and the largest restaurant for sale, which spans 4,840 square feet;
- the local economy, infrastructure, and amenities, such as the Pharr-Reynosa International Bridge, which supports trade and commerce, and the presence of major employers like the Pharr-San Juan-Alamo Independent School District and healthcare facilities.
