3574 Overseas Hwy
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3574 Overseas Hwy
10,294 SF Retail Building Marathon, FL 33050 £3,090,678 (£300/SF) 6.18% Net Initial Yield
Investment Highlights
- Unique 5COP Liquor License allowing Package Sales as well
- Going Concern representing Value Added Component
- Transient Right allowing AirBnB Nightly Rentals in Apartment on site
- Inconic High Visibility Property
Executive Summary
Rare chance to acquire an iconic restaurant, bar, and retail opportunity, with a uniquely versatile 5 COP unrestricted Liquor License. The sale includes real estate, renovated building, and a spacious 4+ -bedroom, 2-bathroom apartment on the second floor currently listed on Airbnb. The property boasts a large indoor bar and dining area with air conditioning, as well as an outdoor bar with a stage for live performances. Situated on the highly visible Overseas Highway, it offers over 340 feet of highway frontage, a prominent billboard for southbound traffic, and a historic neon sign visible to northbound travelers. There is plenty of parking for both employees and customers, and the property underwent major renovations between 2016 and 2017, with additional upgrades made recently. Included in the sale are all furnishings, fixtures, restaurant and liquor store equipment, coolers, and a unique 5 COP unrestricted liquor license, and inventory. The property also includes a transferable city of Marathon Market Rate TBR (Transferable Building Right.) and is licensed for 157 seats, covering both indoor and outdoor areas. Despite its established reputation for cold drinks, great food, a pub atmosphere, arcade games, and live music, there is still room for significant growth with hands-on ownership. This property offers a solid foundation and excellent potential for further expansion and success. The Overseas Pub& Grill has played a significant role in Marathon for over 70 years. Most recently the establishment has become the center of a robust philanthropic effort, spearheaded by key personnel, raising considerable funds for those needing help, both near and far.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
10,294 SF
Building Class
C
Year Built/Renovated
1953/2017
Price
£3,090,678
Price Per SF
£300
Net Initial Yield
6.18%
NOI
£190,918
Tenancy
Single
Number of Floors
2
Building FAR
0.34
Lot Size
0.69 AC
Zoning
MU - Mixed Use: Mixed-use (MU) Zoning District. Designed to accommodate a wide variety of commercial and retail activities.
Parking
30 Spaces (2.91 Spaces per 1,000 SF Leased)
Frontage
385 ft on US 1 Overseas Highway
Amenities
- Restaurant
- Signage
- Air Conditioning
Bike Score ®
Very Bikeable (82)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 00336920-000000 | Improvements Assessment | £540,441 |
| Land Assessment | £767,750 | Total Assessment | £1,308,191 |
PROPERTY TAXES
Parcel Number
00336920-000000
Land Assessment
£767,750
Improvements Assessment
£540,441
Total Assessment
£1,308,191
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3574 Overseas Hwy
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