4 Beds
3 Baths
1,832 SqFt
4 Beds
3 Baths
1,832 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,832 sqft
Price per Sqft $1,801
Subdivision Parrish Sub (48.0)
MLS Listing ID 616244
Bedrooms 4
Full Baths 3
HOA Y/N No
Year Built 1976
Annual Tax Amount $12,445
Tax Year 2024
Lot Size 0.367 Acres
Acres 0.37
Lot Dimensions 16,000
Property Sub-Type Commercial
Land Area 1832
Property Description
This rare multi-parcel package in Marathon, FL 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.
Location
State FL
County Monroe
Area 13 - 7 Mile Bridge To Sombrero Bch Rd E & W
Zoning MU - Mixed Use Commercial Mixed Use
Interior
Appliance Washer, Dishwasher, Range, Refrigerator
Exterior
Parking Features Common Parking
Utilities Available Septic Tank, FKAA, Municipal Sewer, Separate Meters
Waterfront Description Open Water, Gulf Front
Garage No
Building
Story 1
Level or Stories 1
Others
HOA Fee Include Other
Tax ID 00101720-000000
Miscellaneous High Visibility, Open Water View, Highway Frontage, High Traffic Location, Residence on Premise
Virtual Tour https://tours.keyspropertyvisuals.com/cvtnb/358795