With 7 restaurants for sale in Syracuse, this city offers a diverse range of investment opportunities in the food industry. Restaurants in Syracuse can represent a variety of investments, from casual eateries to fine dining establishments, and from family-owned businesses to franchises. Whether you're looking to invest in a restaurant as a sole proprietor or as part of a larger portfolio, Syracuse's unique blend of educational institutions, healthcare facilities, and cultural attractions makes it an attractive location. The city's amenities, including the State University of New York Upstate Medical University, St. Joseph's Health, and the Onondaga Park with Hiawatha Lake, contribute to its appeal. Additionally, Syracuse's location at the intersection of Interstates 81 and 90 makes it a significant transportation crossroads, drawing visitors and locals alike. The city's economy has evolved over time, with a history rooted in manufacturing, and is now home to a diverse range of industries, including healthcare, education, retail, and manufacturing. With its rich history, cultural attractions, and strong educational institutions, Syracuse is a great place to invest in a restaurant.
Syracuse's restaurants offer a unique opportunity to capitalize on the city's diverse population and strong economy. With nearby institutions like Syracuse University and SUNY Upstate Medical University, restaurants in Syracuse can cater to a diverse range of customers, from students and faculty to healthcare professionals and visitors. In addition to restaurants, Syracuse also offers investment opportunities in apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Syracuse can offer a steady stream of income, while shopping centers can provide a diverse range of retail and dining options. Specialty properties, such as office buildings and warehouses, can cater to the city's growing industries, including healthcare and technology. Hotels in Syracuse can capitalize on the city's strong tourism industry, drawing visitors from across the country and around the world. With its unique blend of educational institutions, cultural attractions, and strong economy, Syracuse is a great place to invest in a restaurant or other commercial property.
What is the average cost per square foot for a restaurant in Syracuse?
The average cost per square foot for a restaurant in Syracuse is $195 USD per square feet, with an average size of 6,524 square feet and a largest size of 16,174 square feet, among the 7 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Syracuse?
The value of a restaurant for sale in Syracuse is determined by several factors, including:
- Location, with prime spots in areas like Armory Square, University Hill, and Westcott Street commanding higher prices due to their high foot traffic and demand;
- The restaurant's size, with larger spaces like 16,174 square feet offering more opportunities for seating, kitchen space, and revenue generation;
- The restaurant's financial performance, including its average cap rate of 10.75% and average price per square foot of $195 USD, which can indicate its profitability and potential for growth.
