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