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1532 Main Street

Michael Evanoff's Evie’s Group Acquires Former Yume Sushi Space In Downtown Sarasota For $2.47M
SOLDRetail

Michael Evanoff's Evie’s Group Acquires Former Yume Sushi Space In Downtown Sarasota For $2.47M

1532 Main Street

$2,470,000

$548/SF

Building Size

4,500 SF

Asset Type

Retail

Closing

Feb 14, 2024

AI

A former Yume Sushi space located at 1532 Main Street in downtown Sarasota has been sold for $2.47 million. The property, measuring 4,500 square feet, was purchased by Michael Evanoff, the owner of Evie’s Group, along with Fred Disanto.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $2,470,000
  • Square Footage: 4,500
  • Price per Square Foot: $549
  • Address: 1532 Main Street, Sarasota
  • Market: Sarasota

Although Michael Evanoff won't be opening a new restaurant in the space, there are discussions with a Miami restaurant group to lease the property. However, the tenant's name has not been disclosed.

Players

Sarasota Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.42%

Cash-on-Cash

-1.84%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93