Troy, Michigan, is an attractive destination for investors seeking to own a restaurant, with 6 available listings to choose from. Restaurants in Troy offer a unique opportunity to tap into the city's strong business presence, particularly in the automotive and financial sectors. As a restaurant owner, you'll have access to a diverse demographic makeup and a median household income above the national average. Troy's rich history, dating back to the early 19th century, and its variety of parks and recreational facilities make it an attractive location for residents and visitors alike. The city's infrastructure, including Oakland-Troy Airport and Interstate 75, ensures easy accessibility and connectivity. With major companies like Altair Engineering, Behr America, and Flagstar Bank based in Troy, there's a built-in customer base for your restaurant. Additionally, the city's education institutions, such as Walsh College and Northwood University, provide a steady stream of potential customers.
Troy's restaurant scene is part of a larger commercial landscape that includes 6 available listings. The city's economy is driven by the automotive and financial sectors, with major companies like Inteva Products, J. D. Power and Associates, and Kelly Services contributing to the local economy. In addition to restaurants, Troy is home to a range of property types, including apartment buildings, shopping centers, specialty properties, and hotels. Apartment buildings in Troy offer a unique opportunity to tap into the city's growing population, while shopping centers like the Somerset Collection mall provide a hub for retail activity. Specialty properties, such as the Troy Historic Village, offer a glimpse into the city's history, and hotels cater to the city's many visitors. With its diverse economy and range of property types, Troy is an attractive destination for investors seeking to own a restaurant or other commercial property.
What is the average cost per square foot for a restaurant in Troy?
The average cost per square foot for a restaurant in Troy is $473 USD per square foot, with an average size of 3,614 square feet and a largest size of 7,118 square feet, making it an attractive option for entrepreneurs looking to establish a presence in this city with a strong business presence and diverse economy.
What factors determine the value of a restaurant for sale in Troy?
When evaluating the value of a restaurant for sale in Troy, several key factors come into play, including:
- Location, with proximity to major transportation routes like Interstate 75 and local amenities like the Somerset Collection mall and Oakland Mall, as well as the surrounding demographics and foot traffic;
- The restaurant's physical characteristics, such as its average size of 3,614 square feet, with some listings offering as much as 7,118 square feet, and its average price per square foot of $473 USD;
- Financial performance, including the average cap rate of 6.3%, which can impact the restaurant's overall value and attractiveness to potential buyers, with 6 available listings to choose from.
