12685 Overseas Highway, Marathon, FL

Industrial for Sale - $7,975,000 - 5,619 Sq. Ft.


Agent Info

Josh Mothner
Coldwell Banker Schmitt Real Estate Co.

Property Info

CIMLS#1152045
Location
  12685 Overseas Highway
  Marathon FL 33050
UpdatedApril 26th, 2024
TypeIndustrial
Price$7,975,000
Building5,619 Sq. Ft.

Property Description

Excellent development opportunities on this large Mixed Use commercial waterfront parcel with 200 feet of direct US Highway 1 frontage. 2.1 +/- upland acres and 1.47 acres of owned bay bottom in Bonefish Harbor with at least 5' controlling depth and access to the Atlantic Ocean. Previously existing 550+ dockage, which can be replaced, accessed directly to navigable boating channel. The property's current use is a hotel/marina but the hotel business and accompanying Transient Rights (hotel unit rights) do not convey. Commercial square footage shall remain vested upon the property and Marina license may transfer. Seller has Development Plan for 33,400 Steel Building as a Boathouse with potential for 200 dry boat racks. Total number of dry racks could increase as City of Marathon building height ordinance has changed (increased) since plans were drawn. Dock plans allow for multiple configurations, including 30 wet slips with boat launch zone. Significant Seller Financing may be available to qualified purchasers with attractive terms and loan structures. Mixed Use is a commercial land use designation which allows for multiple development possibilities. Large commercial parcels with both US 1 and water frontage are not common and provide a considerable number of opportunities. DO NOT ENTER PROPERTY without permission and appointment


Financials