Lakewood, California, offers a unique opportunity for investors to capitalize on the city's growing demand for restaurants. With a population of approximately 80,000 residents, Lakewood provides a diverse customer base for restaurants to cater to. Restaurants in Lakewood can represent a range of investments, from casual eateries to fine dining establishments, and can be tailored to suit various tastes and budgets. The city's infrastructure, including the San Gabriel River Bike Trail and Rynerson Park, provides a scenic backdrop for restaurants to attract customers. Additionally, Lakewood's proximity to major transportation hubs, such as the San Gabriel River Freeway (I-605), makes it an attractive location for restaurants looking to draw in customers from surrounding areas. The city's education system, served by multiple school districts, including Long Beach Unified School District, Bellflower Unified School District, and ABC Unified School District, also contributes to a stable and growing population. With attractions like the Lakewood Cultural Center and the Lakewood Arts Festival, the city offers a rich cultural scene that can help drive foot traffic to local restaurants.
Currently, there are 9 restaurants for sale in Lakewood, offering a range of options for investors. The average price per square foot for restaurants in Lakewood is $1,510 USD, with an average size of 6,622 square feet. The largest restaurant available for sale is 22,112 square feet. In addition to restaurants, Lakewood also offers a range of other commercial properties for sale, including apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Lakewood offer investors the opportunity to capitalize on the city's growing demand for housing, while shopping centers provide a hub for retail activity. Specialty properties, such as office buildings and medical facilities, can cater to the city's diverse business needs. Hotels in Lakewood can attract visitors from surrounding areas, drawn to the city's cultural attractions and scenic beauty. Overall, Lakewood presents a unique opportunity for investors to capitalize on the city's growing demand for commercial properties.
What is the average cost per square foot for a restaurant in Lakewood?
The average cost per square foot for a restaurant in Lakewood is $1,510 USD per square foot, with an average size of 6,622 square feet and a largest size of 22,112 square feet available among the 9 listings currently on the market.
What factors determine the value of a restaurant for sale in Lakewood?
The value of a restaurant for sale in Lakewood is determined by a combination of factors, including:
- Location, with proximity to major transportation hubs like Lakewood Boulevard and the San Gabriel River Freeway (I-605) being a significant advantage;
- The size and condition of the property, with average sizes ranging from 6,622 square feet to 22,112 square feet, and an average price per square foot of $1,510 USD;
- The restaurant's financial performance, including its average cap rate of 4.68%, as well as its sales history and potential for growth.
With 9 available listings of restaurants for sale in Lakewood, understanding these factors is crucial for buyers and sellers alike.
