1240 Overseas Hwy - Restaurant FOR SALE


Marathon, FL 33050
$3,500,000 USD
305-393-0994
1240 Overseas Hwy, Marathon, FL for Sale
$3,500,000 USD
Restaurant - FOR SALE
1/76
null | Request Cap Rate

1240 Overseas Hwy
Marathon, FL 33050


HIGHLIGHTS

  • Historic and Landmark 7 Mile Grill Restaurant
  • Two Parcels Included in Sale: 1240 Overseas Hwy and 1230 Overseas Hwy
  • 4 Bed / 1 Bath Home Included in Sale
  • Transferable Beer and Wine License
  • Transferable Submerged Land Lease Allowing Waterfront Usage
  • Bonus Transferable Building Right Included

OVERVIEW

Multi-Parcel Waterfront Offering - Iconic 7 Mile Grill For sale is a rare multi-parcel package in Marathon, FL that combines an iconic waterfront restaurant, residential property, development rights, and dockage. 1240 Overseas Hwy is home to the renowned 7 Mile Grill, serving up delicious home-style cooking with island style since 1954. The historic restaurant operates with a transferable beer and wine license and serves breakfast, lunch, and dinner. The parcel carries an additional development right for a single-family home which currently supports added income from a jet ski rental business and an ice cream truck. A state-issued submerged land lease transfers with the sale, ensuring valuable waterfront access to 149' of dockage. Included in the sale is a 4-bedroom, 1-bath home located at the adjoining 1230 Overseas Hwy. This bonus parcel is perfect for employee housing, an owner's residence, or future redevelopment. With high-visibility US1 frontage at the head of the Seven Mile Bridge, this property offers exceptional exposure and multiple revenue streams. Buyers can continue successful operations as-is or explore reconfiguration and redevelopment options to unlock the full potential of this unmatched offering.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$825 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

7-Mile Grill

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

MU

APN/PARCEL ID

00101720-000000

ASK ABOUT THIS PROPERTY

Elizabeth JolinColdwell Banker Schmitt Real Estate Co.More Info
305-393-0994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Elizabeth JolinColdwell Banker Schmitt Real Estate Co.More Info
305-393-0994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.