With 7 restaurants for sale in Tempe, this city offers a diverse range of investment opportunities for entrepreneurs and business owners. Restaurants in Tempe can represent a variety of investments, from casual eateries to fine dining establishments, and even food trucks or catering services. Whatever the type, Tempe's unique blend of amenities, infrastructure, location, education, and geography make it an attractive place to invest in a restaurant. For instance, the city's proximity to Arizona State University and its large student population creates a built-in customer base for restaurants near campus. Additionally, Tempe's extensive transportation network, including Valley Metro Rail and Orbit neighborhood circulator service, makes it easy for customers to access restaurants throughout the city. The city's many attractions, such as Tempe Town Lake and Papago Park, also draw visitors and locals alike, providing a steady stream of potential customers. Overall, Tempe's unique combination of characteristics makes it an excellent place to invest in a restaurant.
Tempe's restaurant scene is just one aspect of the city's diverse economy, which also includes technology, finance, retail, and manufacturing. With major corporations like DriveTime, Carvana, and GoDaddy headquartered in Tempe, the city offers a strong business environment. In addition to restaurants, investors can also explore opportunities in apartment buildings, shopping centers, specialty properties, and hotels. For example, the city's many apartment buildings offer a range of investment options, from small complexes to large multi-unit buildings. Shopping centers, like Arizona Mills and Tempe Marketplace, provide another investment opportunity, with a mix of local boutiques and national chain stores. Specialty properties, such as the Tempe Center for the Arts, offer a unique investment opportunity, while hotels, like those near Phoenix Sky Harbor International Airport, cater to the city's many visitors. Overall, Tempe's diverse economy and range of investment opportunities make it an attractive place to do business.
What factors determine the value of a restaurant for sale in Tempe?
The value of a restaurant for sale in Tempe is determined by a combination of factors, including:
- Location, with proximity to Arizona State University, Tempe Town Lake, and major transportation hubs like Phoenix Sky Harbor International Airport and Valley Metro Rail increasing desirability and potential revenue;
- The size and layout of the restaurant, with an average size of 7,603 square feet and a maximum size of 31,830 square feet, as well as the condition and age of the property;
- The financial performance of the business, including the average cap rate of 5.32% and the sale price per square foot of $763 USD, which can be influenced by factors like the type of cuisine, target market, and competition in the area, with 7 available listings to compare and negotiate.
What is the average cost per square foot for a restaurant in Tempe?
As of now, there are 7 available listings of restaurants for sale in Tempe, and the average cost per square foot for a restaurant in Tempe is $763 USD per square foot, with an average size of 7,603 square feet and a largest size of 31,830 square feet, making it an attractive option for entrepreneurs and investors looking to capitalize on the city's strong economy and diverse demographics.
