Ocean Prime - Sarasota, FL — Sale in Sarasota, FL
- Price: $19.3M
- Listing type: For sale
- Asset type: Retail Business
- Location: Sarasota, FL 34236
- Year built: 2024
Photos
Investment Figures
- Cap rate
- 6.00%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Jones Lang LaSalle Americas, Inc (“JLL”) is pleased to exclusively offer the opportunity to acquire OCEAN PRIME (the “Asset” or “Property”), Sarasota's premier waterfront steakhouse and seafood dining destination. The Offering features approximately ±8.0 years of remaining lease term, generating $1,157,863 in annual net operating income with minimal landlord responsibilities and 2.0% annual rent escalations throughout the primary term and options. Moreover, future ownership may benefit from a strong and consistent percentage rent feature, which has already proven meaningful as the restaurant is currently on pace to exceed 2025 sales (included in OM after NDA execution). OCEAN PRIME Sarasota represents a truly generational opportunity to acquire a trophy waterfront restaurant asset within The Quay, a $1 billion mixed-use destination surrounded by luxury residential towers, Ritz-Carlton-branded developments, and some of the most affluent waterfront communities on Florida's Gulf Coast.
Market Context
This retail in Sarasota, FL is listed for sale at $19,298,000. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2024. Compare it against other retail listings for sale in Sarasota, FL — view the full market.
Estimated Price per SF
$242.87/SF – $1,766/SF
Mid: $735.97/SF
About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.
Contact
- Jeffrey Cicurel · 7735738118 · jeffrey.cicurel@jll.com
- Josh Katlin · 3122282062 · josh.katlin@jll.com
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