Provo, Utah, is a prime location for investing in restaurants, with a strong economy and a growing population of around 120,000 residents. Restaurants in Provo offer a unique blend of investment opportunities, ranging from casual eateries to fine dining establishments, catering to the diverse tastes of the local community, students, and visitors. With Brigham Young University (BYU) and the largest Missionary Training Center of the Church of Jesus Christ of Latter-day Saints, Provo attracts a steady stream of visitors and students, creating a consistent demand for dining options. The city's infrastructure, including Interstate 15, US-89, and US-189, makes it easily accessible, while its amenities, such as the Provo Recreation Center, Peaks Ice Arena, and Utah Lake, provide a desirable quality of life. Provo's geography, with the Wasatch Range and Utah Lake, also offers opportunities for outdoor activities, making it an attractive location for restaurants that cater to outdoor enthusiasts.
With 2 restaurants for sale in Provo, investors have a range of options to choose from. Provo's restaurant scene is complemented by its other commercial properties, including apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Provo offer a steady stream of potential customers, while shopping centers provide a convenient location for restaurants. Specialty properties, such as those near the Provo Intermodal Center, offer unique opportunities for restaurants that cater to commuters and travelers. Hotels in Provo, like the Marriott, provide a captive audience for restaurants, especially those that offer room service or catering options. Overall, Provo's diverse economy, infrastructure, and amenities make it an attractive location for investing in restaurants.
What is the average cost per square foot for a restaurant in Provo?
For those interested in purchasing a restaurant in Provo, Utah, the average cost per square foot is $1,724 USD.
What factors determine the value of a restaurant for sale in Provo?
The value of a restaurant for sale in Provo is determined by a combination of factors, including:
- Location, with proximity to major transportation facilities like Interstate 15, US-89, and US-189, as well as popular local amenities like the Provo Recreation Center and Utah Lake, playing a significant role in attracting customers.
- The average price per square foot, currently at $1,724 USD, and the average size of the restaurant, which is approximately 1,812 square feet, as well as the largest available space, which is around 3,115 square feet.
- The average cap rate, currently at 5.65%, which provides insight into the restaurant's potential return on investment, as well as the overall demand for restaurants in Provo, with 2 available listings.
