Southfield, Michigan, is a prime location for investing in restaurants, with its strong commercial and business sectors attracting a diverse population of around 80,000 residents. Restaurants in Southfield offer a unique opportunity for entrepreneurs to capitalize on the city's growing demand for dining options. With a range of property types available, from freestanding buildings to spaces within shopping centers, investors can find the perfect fit for their business. Southfield's amenities, including its parks, nature preserves, and recreational facilities, make it an attractive location for families and professionals alike. The city's infrastructure, including its major transportation hubs and freeway interchanges, provides easy access to Detroit and other surrounding areas. Additionally, Southfield is home to Lawrence Technological University, which brings a steady stream of students and faculty to the area. The city's Mid-century modern style architecture and its recognition as a significant commercial and business center in the metropolitan Detroit area make it an attractive location for businesses and residents alike.
Southfield's restaurant scene is complemented by its other commercial properties, including apartment buildings, shopping centers, specialty properties, and hotels. The city's apartment buildings offer a range of options for residents, from luxury high-rises to more affordable complexes. Shopping centers, such as the Southfield City Centre, provide a hub for retail and dining activity. Specialty properties, like the Specs Howard School of Media Arts, add to the city's cultural landscape. Hotels, including those located near the city's major transportation hubs, cater to business travelers and tourists. With 2 restaurants currently for sale in Southfield, investors have a range of options to choose from. The average price per square foot for these properties is $228 USD, with an average size of 2,922 square feet and a largest size of 4,224 square feet. The average cap rate for these properties is. Overall, Southfield's diverse range of commercial properties makes it an attractive location for investors and businesses alike.
What is the average cost per square foot for a restaurant in Southfield?
The average cost per square foot for a restaurant in Southfield is $228 USD per square foot, with an average size of 2,922 square feet and a largest size of 4,224 square feet, among the 2 available listings.
What factors determine the value of a restaurant for sale in Southfield?
The value of a restaurant for sale in Southfield is determined by a combination of factors, including:
- Location, with proximity to major transportation hubs like the John C. Lodge Freeway (M-10) and I-696, as well as access to a large customer base in the city's commercial and business districts, such as the Southfield City Centre.
- Size and layout, with an average size of 2,922 square feet and a maximum size of 4,224 square feet, which can impact seating capacity, kitchen efficiency, and overall operational costs.
- Financial performance, including the average cap rate of and the average price per square foot of $228 USD, which can indicate the restaurant's profitability and potential for growth.
