1240 Overseas Highway, Marathon, FL 33050 (MLS# 616244)

1240 Overseas Highway, Marathon, FL 33050

$3,300,000

Virtual Tour

https://tours.keyspropertyvisuals.com/cvtnb/358795

Property Type: Commercial Sale Bedrooms: 4 Baths: 3 Square Footage: 1,832 Lot Size (sq. ft.): 16,000 Status: Active

Current Price: $3,300,000 List Date: 8/22/2025 Last Modified: 12/09/2025

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.

More Information MLS# 616244

Contract Information

Listing Board: Florida Keys Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $3,300,000 Listing Date: 2025-08-21 List Price: $3,300,000

Location, Tax & Legal

City: MARATHON Off Shore Island: No Mile Marker: 48 Marathon Neighborhood: Old Town West (11th to 25th) Side: Bay/Gulf Flood Zone: AE Alternate Key #: 1118923 Add'l Parcel #1: 1230 Overseas Hwy Parcel #: 00101720-000000 Zoning: MU - Mixed Use Commercial Mixed Use Legal: 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 Taxes: 12445.44 Tax Year: 2024 Street #: 1240 Street Name: Overseas Street Suffix: Highway Key/Island: Marathon State/Province: FL Zip Code: 33050 Subdivision: Parrish Sub (48.0) County: Monroe Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W

General Property Description

Realtor.COM Type: Commercial Waterfront: Yes Control Depth: 5 Lot Size: 16,000 Lot SqFt: 16000 Business Name: The Wooden Spoon Total Units: 1 Year Established: 1953-12-31 # Parking Spaces: 25 # Stories: 1 SqFt Source: Tax Records Total # Buildings: 3 Building SqFt: 2192 Style: Commercial Living Apx SqFt: 1832 Year Built: 1976 Total Bedrooms: 4 Full Baths: 3 Total Baths: 3

Remarks & Misc

Remarks – Consumer: 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.

Deed Restrictions

No: 1

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

License Info

2-Cop (Beer & Wine): 1 Other/See Remarks: 1

Type

Apartment 3 or more: 1 Bar: 1 Marina: 1 Restaurant: 1

Fee Includes

Other: 1

Dockage

Dock: Concrete Basin: 1 Seawall: Concrete Other Dockage: 1

Appliances

Dishwasher: 1 Range: 1 Refrigerator: 1 Washer: 1

Waterfront

Gulf Front: 1 Open Water: 1

Waterview

Bay/Gulf View: 1 Harbor/Marina View: 1

Vehicle Storage

Common Parking: 1

Construction

Combo Construction: 1

Land Size

More than 1 Lot: 1

Utilities

FKAA: 1 Municipal Sewer: 1 Separate Meters: 1 Septic Tank: 1

Property Rights

Beverage License: 1 Multi-Use/Commercial: 1 Tranfrble Bldg Prmt: 1 Transfer Bldg Rights: 1

Miscellaneous

High Traffc Location: 1 High Visibility: 1 Highway Frontage: 1 Open Water View: 1 Residence on Premise: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Status: Active

Property Features

Deed Restrictions: No License Info: 2-Cop (Beer & Wine); Other/See Remarks Type: Apartment 3 or more; Bar; Marina; Restaurant Waterfront: Gulf Front; Open Water Waterview: Bay/Gulf View; Harbor/Marina View Dockage: Basin; Other Dockage Vehicle Storage: Common Parking Utilities: FKAA; Municipal Sewer; Separate Meters; Septic Tank Appliances: Dishwasher; Range; Refrigerator; Washer Miscellaneous: High Traffc Location; High Visibility; Highway Frontage; Open Water View; Residence on Premise Construction: Combo Construction Land Size: More than 1 Lot Fee Includes: Other Property Rights: Beverage License; Multi-Use/Commercial; Tranfrble Bldg Prmt; Transfer Bldg Rights

Listing Office: Coldwell Banker Schmitt Islamorada

Last Updated: December - 09 - 2025

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