Restaurants for sale in Livonia, Michigan, offer a unique investment opportunity in a city with a strong economy and diverse demographic makeup. With a population of around 100,000, Livonia provides a sizable customer base for restaurants, and its location near downtown Detroit makes it an attractive spot for commuters and travelers alike. Restaurants in Livonia can cater to a range of tastes and cuisines, from traditional American fare to international options, thanks to the city's cultural diversity, which is influenced by Palestinian and Lebanese immigrants. The city's educational institutions, such as Livonia Public Schools, Madonna University, and Schoolcraft College, also provide a steady stream of customers. Additionally, Livonia's major employers, including Ford Motor Company and Trinity Health, contribute to a strong local economy. With its convenient location, diverse population, and solid infrastructure, Livonia is an excellent place to invest in a restaurant.
Livonia's restaurant scene is just one aspect of the city's commercial landscape, which also includes 14 available listings of restaurants for sale. The city is also home to 14 available listings of apartment buildings, shopping centers, specialty properties, and hotels, each offering unique investment opportunities. Apartment buildings in Livonia, for example, can capitalize on the city's strong economy and proximity to Detroit. Shopping centers, on the other hand, can benefit from the city's diverse population and convenient location. Specialty properties, such as those near the Livonia Public Library or Schoolcraft College, can cater to specific needs and interests. Hotels in Livonia, meanwhile, can serve travelers visiting the city's major employers or educational institutions. Overall, Livonia's diverse range of commercial properties makes it an attractive destination for investors.
What is the average cost per square foot for a restaurant in Livonia?
Based on current listings, the average cost per square foot for a restaurant in Livonia is $300 USD per square foot, with an average size of 6,102 square feet and a largest size available of 15,732 square feet, among 14 available listings.
What factors determine the value of a restaurant for sale in Livonia?
The value of a restaurant for sale in Livonia is determined by a combination of factors, including:
- the average price per square foot, which is currently $300 USD, and the average size of the restaurant, which is approximately 6,102 square feet;
- the average cap rate, which is 7.47%, indicating the potential return on investment;
- the location and accessibility of the restaurant, with proximity to major employers like Ford Motor Company and Trinity Health, as well as cultural amenities like the Livonia Public Library, contributing to its value.
