1240 Overseas Highway, Marathon, FL 33050
sale
$3,300,000
|
Other
Courtesy Of Coldwell Banker Schmitt Islamorada
Multi-Parcel Waterfront Offering - Iconic 7 Mile Grill.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.
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Virtual Tour
Property Features
- Age: 41-50 Years Old
- Amenities: Water Front
- Appliance: Dishwasher
- Appliance: Refrigerator
- Appliance: Range
- Appliance: Washer
- Architecture Style: Other
- Building Units: 1
- Floors: 1
- 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
- MLSID: 616244
- Rooms: Bedroom 4
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
- View Type: Harbor
- View Type: Marina
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