Waterfront Steakhouse Restaurant
For Sale
Contact for pricing
501 Quay Commons, Sarasota, FL 34236
Ocean Prime is a waterfront steakhouse and seafood restaurant offering about eight years remaining on the lease term.
Property Size12,189 SF
Price / SF$1,583
Days on Market56
Property Features for 501 Quay Commons
General Information
Standard status
Active
Size
12,189 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$1,157,863
Building Details
Year Built
2024
Buildings
1
Tenancy
Single
Listing Agency:
JLL - Irvine (Orange County), California
Listed By:
Jeffrey Cicurel · License #SL3541410
Source:
Crexi
Added: Jul 14
Changed: Aug 25
Last Checked: Sep 7 at 12:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL - Irvine (Orange County), California
Investment Insights
Based on property information with market context.
Ocean Prime is an existing waterfront steakhouse and seafood restaurant within The Quay at 501 Quay Commons, Sarasota, FL 34236. The offering is presented on an exclusive basis by JLL and includes approximately 8.0 years of remaining lease term. Financial terms noted in the offering include annual net operating income of $1,157,863, minimal landlord responsibilities, and 2.0% annual rent escalations throughout the primary term and options.
The Quay is described in the offering materials as a $1 billion mixed-use destination surrounded by luxury residential towers and Ritz-Carlton-branded developments, along with affluent waterfront communities on Florida’s Gulf Coast. The asset is identified as part of this waterfront restaurant environment.
Prospective buyers should note the offering also references a future ownership benefit from a percentage rent feature, described as already contributing meaningfully to performance, with the restaurant referenced as currently on pace to exceed 2025 sales (as included in the OM after NDA execution).
The Quay is described in the offering materials as a $1 billion mixed-use destination surrounded by luxury residential towers and Ritz-Carlton-branded developments, along with affluent waterfront communities on Florida’s Gulf Coast. The asset is identified as part of this waterfront restaurant environment.
Prospective buyers should note the offering also references a future ownership benefit from a percentage rent feature, described as already contributing meaningfully to performance, with the restaurant referenced as currently on pace to exceed 2025 sales (as included in the OM after NDA execution).
Key Highlights
- Waterfront steakhouse and seafood restaurant (Ocean Prime) in Sarasota
- Built in 2024
- Approximately 8.0 years of remaining lease term
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,274
Businesses Nearby
85k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Dining 33%
Shops & Services 8%
Hotels & Casinos 7%
Whole Foods Market
Groceries
34,548 visits/mo
0.1 miles
First Watch
Dining
10,428 visits/mo
0.3 miles
Hyde Park Prime Steakhouse
Dining
8,260 visits/mo
0.2 miles
Embassy Suites By Hilton Sarasota
Hotels & Casinos
5,865 visits/mo
0.4 miles
Bluemercury
Beauty & Spa
5,632 visits/mo
0.2 miles
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
Market
Vacancy Rate% for Retail in Sarasota, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Ocean Prime is a waterfront steakhouse and seafood restaurant offering about eight years remaining on the lease term.
Where is this conventional restaurant located?
The property is located at 501 Quay Commons Sarasota, FL.
What is the asking price?
The asking price for this property is $19,298,000.
What are key features of this property?
This property features: Waterfront steakhouse and seafood restaurant (Ocean Prime) in Sarasota; Built in 2024; Approximately 8.0 years of remaining lease term
