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1240 Overseas Highway
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PRICED AT ONLY: $3,500,000

Address: 1240 Overseas Highway, MARATHON, FL 33050

Description

Multi Parcel Waterfront Offering Iconic 7 Mile GrillFor 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.

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Virtual Tour
More Like This
  • MLS#: 616244 ( Apartment 3 or more,Bar,Marina,Restaurant )
  • Street Address: 1240 Overseas Highway
  • Viewed: 5
  • Price: $3,500,000
  • Price sqft: $0
  • Waterfront: No
  • Waterfront Type: Gulf Front,Open Water
  • Year Built: 1976
  • Bldg sqft: 0
  • Bedrooms: 4
  • Total Baths: 3
  • Full Baths: 3

Description

Multi Parcel Waterfront Offering Iconic 7 Mile GrillFor 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.
Request More Information
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Features
Building and Construction
  • Construction: Combo Construction
  • Net Leasable Area: 1832.00
  • Num Stories: 1.0
  • Sqft Source: Tax Records
  • Total Number Of Units: 1.00
Property Information
  • Property Group Id: 19990816212135227274000000
  • Property Rights: Tranfrble Bldg Prmt, Multi-Use/Commercial, Transfer Bldg Rights, Beverage License
Garage and Parking
  • Vehicle Storage: Common Parking
Eco-Communities
  • Off Shore Island: No
  • Water View: Bay/Gulf View, Harbor/Marina View
Utilities
  • Utilities: FKAA, Separate Meters, Municipal Sewer, Septic Tank
Finance and Tax Information
  • Fee Includes: Other
  • Tax Year: 2024
Other Features
  • Add L Parcel Num1: 1230 Overseas Hwy
  • Alternate Key Num: 1118923
  • Appliances Other: YES
  • Appliances: Refrigerator, Dishwasher, Washer, Range
  • As Is Rght To Inspct: Yes
  • Association Info 1st Right Of Refusal: No
  • Association Info Mandatory Home Owners Asc: No
  • Deed Restrictions: No
  • Dockage Dock: Concrete
  • Dockage Seawall: Concrete
  • Dockage: Basin, Other Dockage
  • Flood Zone: AE
  • Legal Description: 8 66 32 HOG KEY PT GOVT LT 1 AND ADJ PT ST RD 5 OR375-561 OR459-468/70 OR517-304 OR697-669 OR755-461 OR755-958 OR766-81
  • Limitd Reprsntation: No
  • Mile Marker: 48.00
  • Miscellaneous: Residence on Premise, Open Water View, Highway Frontage, High Visibility, High Traffc Location
  • Parcel Num: 00101720-000000
  • Side: Bay/Gulf
  • Species List: No
  • Style: Commercial
  • Year Established: 1953-12-31
  • Zoning: MU - Mixed Use Commercial Mixed Use
Nearby Subdivisions
Casa Blanca (50.5)   Casa Manana Shores (50.5)   Coco Plum (54.6)   Coco Plum Beach (54.5)   Driftwood Estates   Driftwood Estates (54.0)   Edmonds Acre Tracts (50.5)   Fat Deer Key (53.0)   First Professional (50.0)   Fishermans Point (48.0)   Gulfside Village (50.0)   Industrial Sub (52.5)   Key Colony Sub (53.0)   Little Venice (53.0)   Marathon Beach (49.0)   Marathon Heights (50.5)   Misc Marathon East O (52.0)   Olde Towne Centre (52.5)   Palms, The (53.0)   Paraiso Estate (51.0)   Parrish Sub (48.0)   Riggs Sub (47.5)   Roosevelt Point #1 (51.0)   Sombrero Sub (49.5)   Stirrup Key Bight (52.5)   Woodburns Sub (49.5)  
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Contact Info

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