Lawrence, Massachusetts is a prime location for investing in restaurants, with its rich history, diverse manufacturing industry, and strong infrastructure. Restaurants in Lawrence offer a unique opportunity to tap into the city's cultural scene, which is shaped by its historical significance as a former textile center and its current status as a hub for healthcare, public safety, utilities, and education. With a population of around 90,000, Lawrence provides an attractive market for restaurateurs, with a diverse range of potential customers, including students from Northern Essex Community College and Cambridge College, as well as employees from major employers in the manufacturing and healthcare sectors. The city's location on the Merrimack River and its proximity to major transportation facilities, including Interstate 495 and the Senator Patricia McGovern Transportation Center, make it an ideal spot for restaurants that cater to both locals and visitors. Additionally, Lawrence's strong sense of community, reflected in its annual events and institutions, provides a supportive environment for businesses to thrive.
With 1 restaurants for sale in Lawrence, investors have a wide range of options to choose from. From casual eateries to fine dining establishments, Lawrence's restaurant scene offers something for everyone. The city's diverse population, which includes residents from Latin American countries and Southeast Asia, provides a unique opportunity for restaurateurs to cater to a variety of tastes and cuisines. In addition to restaurants, Lawrence also offers a range of other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, investors may consider investing in apartment buildings near Northern Essex Community College or shopping centers along Route 28. Specialty properties, such as those near the Lawrence General Hospital, may also offer attractive investment opportunities. Hotels, like those near the Senator Patricia McGovern Transportation Center, can cater to visitors and business travelers. Overall, Lawrence provides a unique blend of history, culture, and infrastructure, making it an attractive location for investors looking to tap into the city's growing restaurant scene.
What is the average cost per square foot for a restaurant in Lawrence?
The average cost per square foot for a restaurant in Lawrence is $392 USD per square foot, with an average size of 5,549 square feet and a largest size of 5,549 square feet, among the 1 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Lawrence?
The value of a restaurant for sale in Lawrence is determined by a combination of factors, including:
- the average price per square foot, currently at $392 USD, which is influenced by the restaurant's location, size, and condition;
- the restaurant's average cap rate, currently at , which reflects the return on investment based on the property's net operating income;
- the restaurant's size, with an average of 5,549 square feet and a maximum of 5,549 square feet, which affects its capacity and revenue potential.
