Bakersfield, California, is a prime location for investing in restaurants, with its strong economy driven by the oil and agriculture industries. With a population of approximately 400,000, Bakersfield offers a diverse range of customers for restaurants to cater to. Restaurants in Bakersfield can represent a variety of investments, from casual eateries to fine dining establishments, and can appeal to different demographics, such as families, young professionals, and seniors. The city's infrastructure, including its extensive highway network and transportation facilities, makes it an attractive location for restaurants, providing easy access to suppliers and customers. Additionally, Bakersfield's amenities, such as the Meadows Field Airport, Mechanics Bank Arena, and Kern County Soccer Field, attract visitors and locals alike, creating a potential customer base for restaurants. The city's educational institutions, including California State University, Bakersfield, and Bakersfield College, also contribute to the demand for restaurants, as students and faculty seek convenient and affordable dining options. With its unique blend of country music heritage and cultural attractions, Bakersfield is a great place for business and travel, making it an ideal location for restaurants.
Bakersfield's restaurant scene is diverse and growing, with 7 listings available for sale. The city's restaurants can benefit from its proximity to major employers, such as Chevron and Aera Energy, as well as its growing manufacturing and distribution sector. In addition to restaurants, Bakersfield also offers opportunities for investing in other property types, such as apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Bakersfield can cater to the city's growing population, while shopping centers can take advantage of the city's strong retail market. Specialty properties, such as those in the healthcare or education sectors, can also thrive in Bakersfield, and hotels can benefit from the city's tourism attractions, including the Crystal Palace and the Bakersfield Symphony Orchestra. Overall, Bakersfield offers a range of investment opportunities for those looking to invest in the city's commercial real estate market.
What is the average cost per square foot for a restaurant in Bakersfield?
The average cost per square foot for a restaurant in Bakersfield is $658 USD per square foot, with an average size of 6,159 square feet and a largest size of 21,354 square feet, among the 7 available listings.
What factors determine the value of a restaurant for sale in Bakersfield?
When evaluating the value of a restaurant for sale in Bakersfield, several key factors come into play, including:
- The average price per square foot, which currently stands at $658 USD, and the average size of the restaurant, which is approximately 6,159 square feet.
- The location of the restaurant, with proximity to major transportation hubs like the Bakersfield Amtrak station and highways such as State Route 99 and Interstate 5, as well as its accessibility to the city's growing population of around 400,000 people.
- The restaurant's financial performance, including its average cap rate of 4.88%, which can indicate its potential for generating revenue and attracting investors.
