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1400 Main Street

Updated Dec 4, 2024

Damn Good Hospitality Leases Retail Space In Sarasota's Five Points Area
LEASEDRetail

Damn Good Hospitality Leases Retail Space In Sarasota's Five Points Area

1400 Main Street & 1410 Main Street

Building Size

11,500 SF

Asset Type

Retail

Closing

Feb 15, 2024

About this deal

AI

The retail property located at 1400 & 1410 Main Street in Sarasota spans 11,500 square feet. The space is set to become the new location for Damn Good Hospitality's high-end restaurant concept, Warren, offering a sophisticated ambiance and sweeping views. Damn Good Hospitality, led by Jeff John, is known for its extensive whiskey program and is expanding to Sarasota's downtown Five Points area.

Summary of transaction details:

The deal was facilitated by Kevin Robbins from Robbins Real Estate and Loyd Robbins from Loyd Robbins & Co. Damn Good Hospitality's expansion to Sarasota marks the third location for its Warren concept, following successful ventures in Delray and Naples. The new 11,500-square-foot space on the second floor is expected to resonate with the brand's signature upscale dining experience.

Players

Kevin Robbins

Harry E. Robbins Associate

Broker

$12M

vol

2 deals

Broker

Sarasota Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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