Rockford, Illinois, is a city that offers a unique blend of industrial heritage and cultural attractions, making it an attractive location for investors looking to purchase a restaurant. With a population of around 150,000 people, Rockford provides a sizable customer base for restaurants, and its strategic location along the Rock River makes it an ideal spot for businesses that cater to both locals and tourists. Restaurants in Rockford can benefit from the city's rich history, cultural venues, and outdoor recreational activities, which attract visitors from nearby cities like Chicago and Madison. The city's infrastructure, including Interstate 39, Interstate 90, and the Chicago Rockford International Airport, also makes it easily accessible to suppliers and customers alike. Additionally, Rockford is home to several institutions, such as Rockford University, Rock Valley College, and St. Anthony College of Nursing, which provide a steady stream of potential customers for restaurants. The city's amenities, including the Aldeen Golf Club, Swedish American Hospital, and the Rockford IceHogs, further enhance its appeal as a location for restaurants.
Rockford's restaurant scene is diverse and eclectic, with a range of options to suit different tastes and preferences. From casual eateries to fine dining establishments, restaurants in Rockford can cater to a variety of customers. With 5 restaurants for sale in Rockford, investors have a wide range of options to choose from. In addition to restaurants, Rockford also offers other investment opportunities, such as apartment buildings, shopping centers, specialty properties, and hotels. For example, investors can consider purchasing apartment buildings near Rockford University or Rock Valley College, which can provide a steady stream of tenants. Shopping centers, such as Cherryvale Mall, can also be attractive investment opportunities, given their proximity to major highways and transportation hubs. Specialty properties, like the Anderson Japanese Gardens, can offer unique investment opportunities, while hotels, such as those near the Chicago Rockford International Airport, can cater to business travelers and tourists alike. Overall, Rockford's diverse economy, cultural attractions, and infrastructure make it an attractive location for investors looking to purchase a restaurant or other types of properties.
What is the average cost per square foot for a restaurant in Rockford?
Based on current listings, the average cost per square foot for a restaurant in Rockford is $155 USD per square feet, with an average size of 15,570 square feet and a largest size of 55,226 square feet, offering a range of options for entrepreneurs and investors looking to establish a presence in this market.
What factors determine the value of a restaurant for sale in Rockford?
The value of a restaurant for sale in Rockford is determined by a combination of factors, including:
- Location, with proximity to major highways like Interstate 39 and Interstate 90, as well as accessibility to the Chicago Rockford International Airport, being a significant consideration;
- The restaurant's size, with an average size of 15,570 square feet, and a maximum size of 55,226 square feet, affecting its capacity and potential revenue;
- The restaurant's financial performance, including its average cap rate of 7.5%, and its sale price per square foot, averaging $155 USD, which can impact its overall value and attractiveness to potential buyers.
