1240 Overseas Highway, MARATHON, FL

Others for Sale - $3,500,000 - 1,832 Sq. Ft.


Agent Info

Elizabeth Jolin
Coldwell Banker Schmitt Real Estate Co.

Property Info

CIMLS#1180528
Location
  1240 Overseas Highway
  MARATHON FL 33050
UpdatedOctober 19th, 2025
TypeOthers
Price$3,500,000
Building1,832 Sq. Ft.

Property Description

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.


Financials


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