Somerville, Massachusetts, is a densely populated city with a strong economy, making it an attractive location for investing in restaurants. With a population of around 80,000 people, Somerville offers a diverse customer base for restaurants. Restaurants in Somerville can represent a variety of investments, from casual eateries to fine dining establishments, and from independent businesses to chain restaurants. Somerville's walkability and bikeability make it an ideal location for restaurants, with many amenities such as the Somerville Community Path and the Bluebikes stations. The city's efficient transportation system, including the MBTA subway stations, also makes it easy for customers to access restaurants. Additionally, Somerville is home to Tufts University, which provides a steady stream of customers for restaurants. The city's well-developed infrastructure, including waste management services and snow removal equipment, also supports the success of restaurants. With its diverse economy and strong infrastructure, Somerville is a great place to invest in a restaurant, with attractions like the Somerville Theatre and the Dilboy Stadium drawing in visitors from around the area.
Somerville's restaurants are part of a larger commercial landscape that includes a mix of industries and major employers. The city is also home to 1 restaurants for sale, offering a range of investment opportunities. In addition to restaurants, Somerville has a variety of other commercial properties available, including apartment buildings, shopping centers, specialty properties, and hotels. For example, the city's apartment buildings offer a range of investment opportunities, from small buildings to large complexes. Somerville's shopping centers, such as Assembly Square, provide a hub for retail activity, with a mix of local and national businesses. The city's specialty properties, such as the Brickbottom Artists Building, offer unique investment opportunities for businesses that require specialized space. Somerville's hotels, such as those located near the MBTA subway stations, cater to visitors and business travelers, providing a range of amenities and services. Overall, Somerville's commercial properties offer a range of investment opportunities, with something to suit every business need.
What is the average cost per square foot for a restaurant in Somerville?
The average cost per square foot for a restaurant in Somerville is $181 USD per square foot, with an average size of 4,270 square feet and a largest size of 4,270 square feet, making it an attractive option for restaurateurs looking to establish a presence in this densely populated city northwest of Boston.
What factors determine the value of a restaurant for sale in Somerville?
The value of a restaurant for sale in Somerville is determined by a combination of factors, including:
- Location, with proximity to major transportation hubs like Davis station and Assembly station, as well as popular neighborhoods like Davis Square and Assembly Square, increasing the restaurant's appeal and potential revenue;
- The size and layout of the restaurant, with an average size of 4,270 square feet and a maximum size of 4,270 square feet, affecting the seating capacity, kitchen efficiency, and overall dining experience;
- The financial performance of the restaurant, including the average price per square foot of $181 USD and an average cap rate of , which can impact the restaurant's profitability and desirability to potential buyers.
