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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:
12/26/2025
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
Current Price: $3,300,000
Listing Date: 2025-08-21
Listing Board: Florida Keys
List Price: $3,300,000
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Location Tax Legal
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
Style: Commercial
Lot Size: 16,000
Lot SqFt: 16000
Waterfront: Yes
Control Depth: 5
Business Name: The Wooden Spoon
Year Established: 1953-12-31
# Parking Spaces: 25
# Stories: 1
Total # Buildings: 3
Building SqFt: 2192
SqFt Source: Tax Records
Living Apx SqFt: 1832
Total Units: 1
Year Built: 1976
Total Bedrooms: 4
Full Baths: 3
Total Baths: 3
Status Change Info
Status: Active
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Dockage
Dock: Concrete
Seawall: Concrete
Financial Status
Bank Owned: No
Potential Short Sale: No
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 - 26 - 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.
