Waterfront Steakhouse Restaurant
501 Quay Commons Sarasota, FL 34236
For Sale
Contact for pricing
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 Market11
Property Features for 501 Quay Commons
General Information
- Standard status
- Active
- Size
- 12,189 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing Agency:
JLL - Irvine (Orange County), California
Listed By:
Jeffrey Cicurel · License #SL3541410
Source:
Crexi
Added: Jul 14
Changed: Jul 24
Last Checked: Jul 24 at 3:10AM
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
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
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
