Iowa City, Iowa, is home to a diverse range of restaurants, offering a unique opportunity for investors to capitalize on the city's strong economy and cultural attractions. With a population of over 74,000 and a metropolitan area of over 171,000, Iowa City provides a sizable market for restaurants to thrive. Restaurants in Iowa City can cater to a variety of tastes and preferences, from casual eateries to fine dining establishments, and can benefit from the city's rich cultural scene, including attractions like the Old Capitol building, the University of Iowa Art Museum, and Plum Grove. The city's infrastructure, including public transportation services and paved bicycle paths, makes it easy for customers to access restaurants. Additionally, Iowa City's reputation as a hub for medical services and educational opportunities, with major employers like the University of Iowa Hospitals and Clinics (UIHC) and ACT college testing services, provides a stable customer base. The city's many parks and recreational facilities, such as Waterworks Prairie Park and Finkbine Golf Course, also offer opportunities for restaurants to cater to outdoor enthusiasts.
Currently, there are 1 restaurants for sale in Iowa City, offering a range of investment opportunities. The average price per square foot for restaurants in Iowa City is $358 USD, with an average size of 4,944 square feet. The largest restaurant for sale is 4,944 square feet. In addition to restaurants, Iowa City also offers investment opportunities in apartment buildings, with many complexes located near the University of Iowa and downtown area. Shopping centers, such as the Coral Ridge Mall, provide another option for investors. Specialty properties, like the Iowa City Municipal Airport, offer unique investment opportunities. Hotels, such as the Hotel Vetro, cater to the city's many visitors and provide another investment option. With its diverse economy, cultural attractions, and range of investment opportunities, Iowa City is an attractive location for investors looking to capitalize on the city's growth and development.
What is the average cost per square foot for a restaurant in Iowa City?
The average cost per square foot for a restaurant in Iowa City is $358 USD per square foot, with an average size of 4,944 square feet and a largest size available of 4,944 square feet, among the 1 available listings.
What factors determine the value of a restaurant for sale in Iowa City?
When evaluating the value of a restaurant for sale in Iowa City, several key factors come into play, including:
- Location, with proximity to the University of Iowa and downtown Iowa City being highly desirable, as well as accessibility to major transportation hubs like Interstate 80 and the Eastern Iowa Airport.
- The size and condition of the property, with an average size of 4,944 square feet and an average price per square foot of $358 USD, as well as the overall condition and amenities of the building.
- Financial performance, including the restaurant's average cap rate of 6.44% and its potential for future growth and profitability, taking into account the local economy and competition.
