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:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Landlord: Chris Brown
- Tenant: Jeff John - Damn Good Hospitality
- Brokers: Kevin Robbins - Robbins Real Estate; Loyd Robbins - Loyd Robbins & Co.
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
Sarasota Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Browse Sarasota retail leases on Traded.
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