Tucson, Arizona, is a prime location for investing in restaurants, with 21 available listings offering a range of opportunities. Restaurants in Tucson can represent a diverse range of investments, from casual eateries to fine dining establishments, and from family-owned businesses to national chain restaurants. With the University of Arizona and a strong presence of high-technology industries, government contractors, and tourism, Tucson's economy is well-positioned to support a thriving food scene. The city's amenities, infrastructure, location, education, and geography also make it an attractive place to invest in a restaurant. For example, the city's scenic desert landscape and surrounding mountain ranges make it a popular destination for outdoor enthusiasts, while its rich history and cultural attractions, such as the Tucson Botanical Gardens and the University of Arizona Museum of Art, draw visitors from around the world. Additionally, the city's strong presence in the optics and optoelectronics industry, earning it the nickname "Optics Valley," and its designation as a "City of Gastronomy" by UNESCO in 2015, further support the viability of restaurants in Tucson.
Tucson's restaurant scene is characterized by its unique blend of Southwestern and Mexican cuisine, as well as its growing presence of international restaurants. With nearby attractions like Saguaro National Park and the Tucson Mountain Park, restaurants in Tucson can cater to a diverse range of customers, from locals to tourists. In addition to restaurants, Tucson also offers a range of other property types, including apartment buildings, shopping centers, specialty properties, and hotels. For example, the city's downtown area is home to a variety of shopping centers, including the historic Broadway Village shopping center, while its northwest side features a range of apartment buildings and specialty properties. With its strong economy, rich culture, and diverse range of property types, Tucson is an attractive location for investors looking to diversify their portfolios.
What is the average cost per square foot for a restaurant in Tucson?
The average cost per square foot for a restaurant in Tucson is $682 USD per square feet, with an average size of 22,495 square feet and a largest size of 223,076 square feet, making it an attractive option for restaurateurs looking to establish a presence in this city known for its gastronomic delights.
What factors determine the value of a restaurant for sale in Tucson?
The value of a restaurant for sale in Tucson is determined by a combination of factors, including:
- Location, with proximity to popular attractions, universities, and high-traffic areas, such as downtown Tucson, the University of Arizona campus, and major transportation hubs, contributing to a higher value.
- Size and layout, with larger restaurants (averaging 22,495 square feet) and those with more efficient layouts commanding higher prices, and the largest restaurants (up to 223,076 square feet) being the most valuable.
- Financial performance, including the restaurant's average cap rate (6.04%), revenue, and profitability, as well as the overall condition and age of the property, with newer and more modern restaurants typically being more valuable.
