About 1240 Overseas Highway
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.
Features of 1240 Overseas Highway
| MLS® # | 616244 |
|---|---|
| Price | $3,500,000 |
| Bedrooms | 4 |
| Bathrooms | 3.00 |
| Full Baths | 3 |
| Square Footage | 2,192 |
| Year Built | 1976 |
| Type | Commercial Sale |
| Sub-Type | Commercial |
| Status | Active |
Community Information
| Address | 1240 Overseas Highway |
|---|---|
| Area | 13 - 7 Mile Bridge to Sombrero Bch Rd E & W |
| Subdivision | Parrish Sub (48.0) |
| City | MARATHON |
| County | Monroe |
| State | FL |
| Zip Code | 33050 |
Amenities
| Utilities | FKAA, Separate Meters, Municipal Sewer, Septic Tank |
|---|---|
| Parking | Common Parking |
| View | Bay/Gulf View, Harbor/Marina View |
| Is Waterfront | Yes |
| Waterfront | Gulf Front, Open Water |
Interior
| Appliances | Refrigerator, Dishwasher, Washer, Range |
|---|---|
| # of Stories | 1 |
Exterior
| Lot Description | More than 1 Lot |
|---|---|
| Construction | Combo Construction |
Additional Information
| Date Listed | August 22nd, 2025 |
|---|---|
| Days on Market | 72 |
| Zoning | MU - Mixed Use Commercial Mixed Use |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Elizabeth Jolin |
|---|---|
| Office | Coldwell Banker Schmitt Islamorada |