Phoenix, Arizona, is a prime location for investing in restaurants, with its strong economy and growing population of approximately 1.7 million people. Restaurants in Phoenix offer a unique opportunity for entrepreneurs and investors alike, providing a diverse range of investment options. From casual eateries to fine dining establishments, restaurants in Phoenix cater to a wide range of tastes and preferences. The city's amenities, infrastructure, location, education, and geography make it an attractive place to invest in a restaurant. For instance, Phoenix is home to Arizona State University, one of the largest public universities in the country, which provides a steady stream of customers for restaurants in the area. Additionally, the city's grid-like street layout and wide roadways make it easy for customers to navigate and access restaurants. The presence of major companies like Intel, Honeywell, and PetSmart also contributes to a strong economy, making Phoenix an ideal location for restaurants.
With 23 restaurants for sale in Phoenix, investors have a wide range of options to choose from. The average price per square foot for restaurants in Phoenix is $962 USD, and the average size is 22,750 square feet, with the largest size being 260,941 square feet. The average cap rate for restaurants in Phoenix is 5.48%. In addition to restaurants, Phoenix also offers a range of other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, the city's strong economy and growing population make it an attractive location for apartment buildings, while its many tourist attractions and amenities make it a prime spot for hotels. Overall, Phoenix offers a unique combination of opportunities for investors, making it an attractive location for those looking to invest in restaurants or other types of properties.
What is the average cost per square foot for a restaurant in Phoenix?
The average cost per square foot for a restaurant in Phoenix is $962 USD per square foot, with an average size of 22,750 square feet and a largest size of 260,941 square feet, providing a range of options for restaurateurs to find the perfect space to suit their business needs.
What factors determine the value of a restaurant for sale in Phoenix?
The value of a restaurant for sale in Phoenix is determined by a combination of factors, including:
- Location, with proximity to major highways, public transportation, and population centers such as Downtown, Midtown, and Uptown, as well as tourist attractions like the Phoenix Zoo and South Mountain Park, being highly desirable;
- Financial performance, including revenue, profit margins, and cash flow, with restaurants in high-demand areas like Old Town Scottsdale and North Phoenix potentially commanding higher prices;
- Physical condition and amenities, such as the size and layout of the dining area, kitchen equipment, and outdoor seating, with restaurants featuring modern amenities and ample parking being more attractive to buyers.
