Investing in a restaurant in Melbourne, Florida can be a lucrative venture, given the city's growing population of over 84,000 residents and its strategic location near major transportation hubs. Restaurants in Melbourne offer a diverse range of investment opportunities, from casual eateries to fine dining establishments, catering to the city's diverse demographic. With its rich history, cultural events, and natural attractions, Melbourne is an attractive destination for tourists and locals alike, making it an ideal location for restaurants. The city's amenities, such as the Brevard Zoo, Wickham Park, and Lake Washington, provide a unique setting for restaurants to thrive. Additionally, Melbourne's proximity to major employers like Harris Corporation, Northrop Grumman, and Embraer, ensures a steady stream of customers. The city's tropical climate and scenic views also make it an attractive location for outdoor dining and entertainment. With its unique blend of natural beauty, cultural attractions, and economic growth, Melbourne is an excellent choice for restaurant investors.
Currently, there are 14 restaurants for sale in Melbourne, offering a range of investment opportunities. The average price per square foot for restaurants in Melbourne is $431 USD, with an average size of 5,034 square feet. The largest restaurant available for sale is 9,032 square feet. In addition to restaurants, Melbourne also offers investment opportunities in apartment buildings, shopping centers, specialty properties, and hotels. For example, apartment buildings in Melbourne offer a stable source of income, with many complexes located near major employers and amenities. Shopping centers, like the Melbourne Shopping Center on Babcock Street, provide a hub for retail and dining activity. Specialty properties, such as the Historic Rossetter House Museum, offer unique investment opportunities. Hotels, like those near the Melbourne Orlando International Airport, cater to the city's growing tourism industry. With its diverse range of investment opportunities, Melbourne is an attractive destination for investors looking to capitalize on the city's growth and development.
What is the average cost per square foot for a restaurant in Melbourne?
The average cost per square foot for a restaurant in Melbourne is $431 USD per square feet, with an average size of 5,034 square feet and a largest size of 9,032 square feet, making it an attractive option for entrepreneurs looking to invest in the city's diverse retail and commerce sector.
What factors determine the value of a restaurant for sale in Melbourne?
The value of a restaurant for sale in Melbourne is determined by several key factors, including:
- Location, with proximity to major attractions, transportation hubs, and densely populated areas, such as the Melbourne Orlando International Airport, Wickham Park, and the downtown area, being highly desirable;
- The size and condition of the property, with an average size of 5,034 square feet and an average price per square foot of $431 USD, as well as the overall condition and age of the building;
- The financial performance of the business, including the average cap rate of 4.93%, revenue, and profitability, as well as the potential for growth and expansion.
