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Real Estate Criteria for Neighborhood Pizzeria

Posted by Capital Retail on April 30, 2018
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Any pizza restaurant owner looking for space needs to have set real estate criteria for determining which sites will be successful.  When searching real estate for our pizza clients, we categorize  by basic requirements, “A” locations, and extra incentives.

Basic Requirements

  • Natural gas or propane available (natural gas preferred)
  • 200 Amp electrical service (3-phase preferred)
  • 1,000 to 1,500 square feet and 20 feet of frontage
  • No competing pizza or Italian restaurant in the center or in immediate vicinity

“A” Locations

  • Have good visibility from the street;set back less than 150 feet with minimal obstruction
  • Good access in and out of the parking lot(traffic light,curb cuts);two points of ingress/egress
  • Plentiful parking for customers and delivery drivers
  • Have 30,000 households within 2-mile radius; 2.5 people per household
  • Median income of $55,000-$95,000

Extra Incentives

  • High traffic co-tenants in the center
  • Space that was formerly a restaurant
  • Be located on the “going home” side of the road if there is a commuting traffic pattern in the market
  • Pylon sign visible from the road in both directions
  • If located in strip center, end cap location
  • Pick-up window

Pizza owners may want to consider former B-rated locations that have moved up to A status because of population shifts and other pro-growth factors. However, unless the owner is a marketing genius or has very good reason to believe that a location is in the path of immediate progress such an upcoming area development or traffic pattern shift that will turn it into an A site in the very near future—he should stick with sites that have already proved themselves to be winners.  Committing to leasing any site is a major capital decision. Top executives are rightfully demanding more due diligence and site presentations to back up what used to be based on “gut reactions”. We recommend tenants begin their site selection process by consulting with a local real estate broker who knows the nuances of the specific market.

Visit https://capitalretail.com for more information.