Newport Beach, California, is a prime location for investing in restaurants, with its rich history, beautiful beaches, and strong economy. Restaurants in Newport Beach offer a unique opportunity for investors to capitalize on the city's popularity among tourists and locals alike. With a variety of cuisines and dining experiences available, restaurants in Newport Beach can cater to a wide range of tastes and preferences. The city's infrastructure, including its major roads, train stations, and airport, makes it easily accessible for visitors and residents. Additionally, Newport Beach is home to several major corporations, including Pacific Life and PIMCO, which provides a steady stream of customers for restaurants. The city's amenities, such as the Hoag Hospital Newport Beach and the Pelican Hill Golf Club, also make it an attractive location for restaurants. With its beautiful beaches, outdoor recreational activities, and cultural attractions, Newport Beach is an ideal location for restaurants to thrive.
Currently, there are 2 restaurants for sale in Newport Beach, offering a range of investment opportunities. The average price per square foot for restaurants in Newport Beach is $597 USD, with an average size of 3,840 square feet. The largest restaurant for sale is 4,800 square feet. In addition to restaurants, Newport Beach also offers other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, apartment buildings in Newport Beach offer a steady stream of rental income, while shopping centers provide a hub for retail activity. Specialty properties, such as office buildings and warehouses, can also be found in Newport Beach, offering a range of uses for investors. Hotels in Newport Beach, such as the Newport Beach Marriott Hotel & Spa, cater to the city's tourist industry, providing a convenient and comfortable place for visitors to stay. With its strong economy and diverse range of investment opportunities, Newport Beach is an attractive location for investors looking to expand their portfolio.
What is the average cost per square foot for a restaurant in Newport Beach?
The average cost per square foot for a restaurant in Newport Beach is $597 USD per square foot, with an average size of 3,840 square feet and a largest size of 4,800 square feet, among the 2 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Newport Beach?
The value of a restaurant for sale in Newport Beach is determined by a combination of factors, including:
- Location, with proximity to popular attractions like the Newport Harbor, beaches, and Fashion Island, as well as accessibility to major roads like Pacific Coast Highway and Jamboree Road, impacting foot traffic and customer base;
- Size and layout, with the average restaurant size in Newport Beach being 3,840 square feet, and larger spaces like 4,800 square feet commanding higher prices;
- Financial performance, including the average cap rate of 6.5% and the price per square foot of $597 USD, which can vary depending on the type of cuisine, target market, and operational efficiency.
