Rochester, New York, is a city that offers a unique blend of history, culture, and economic opportunities, making it an attractive location for investors looking to purchase a restaurant for sale. With a population of around 210,000, Rochester provides a sizable customer base for restaurants, and its strong educational institutions, such as the University of Rochester and Rochester Institute of Technology, ensure a steady flow of students and faculty looking for dining options. The city's economy is also supported by internationally renowned companies like Paychex and Wegmans, which contribute to a diverse range of industries. Rochester's cultural offerings, including prestigious music institutions and museums, make it an attractive destination for tourists and locals alike. The city's infrastructure, including the Frederick Douglass Greater Rochester International Airport and the Louise M. Slaughter Rochester Station, provides easy access to the city, making it an ideal location for restaurants. With 16 restaurants for sale in Rochester, investors have a wide range of options to choose from.
Rochester's restaurants offer a unique opportunity for investors to tap into the city's diverse economy and cultural scene. The city's strong educational institutions and major employers provide a steady customer base, while its cultural attractions and events, such as the Lilac Festival and the Rochester International Jazz Festival, draw in tourists and locals alike. In addition to restaurants, Rochester also offers a range of other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, investors looking for apartment buildings for sale in Rochester can take advantage of the city's strong rental market, driven by its large student population. Shopping centers for sale in Rochester offer a chance to capitalize on the city's retail sector, while specialty properties, such as office buildings and warehouses, provide opportunities for investors looking for unique investment opportunities. Hotels for sale in Rochester, meanwhile, offer a chance to tap into the city's growing tourism industry. With its diverse economy and cultural scene, Rochester is an attractive location for investors looking to purchase a restaurant or other type of property.
What is the average cost per square foot for a restaurant in Rochester?
The average cost per square foot for a restaurant in Rochester is $235 USD per square feet, with an average size of 5,511 square feet and a largest size of 14,820 square feet, among the 16 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Rochester?
When evaluating the value of a restaurant for sale in Rochester, several key factors come into play, including:
- Location, with proximity to major attractions, universities, and transportation hubs like the Frederick Douglass Greater Rochester International Airport and the Louise M. Slaughter Rochester Station, as well as accessibility to main roads like the New York State Thruway and Lake Ontario State Parkway, significantly impacting foot traffic and customer base;
- Size and layout, with average restaurant sizes in Rochester ranging from 5,511 square feet to 14,820 square feet, and the ability to accommodate a certain number of customers and staff influencing revenue potential;
- Financial performance, including average cap rates of 7.28% and average prices per square foot of $235 USD, which are influenced by the restaurant's concept, management, and market demand, as well as the overall economic landscape of Rochester, which is shifting from traditional manufacturing to a focus on educational and medical institutions.
