1240 Overseas Highway, Marathon, FL 33050
$3,300,000
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
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.