Restaurant Space in Mall
For Sale
$489,000
11400 Overseas Highway 116, Marathon, FL 33050
Restaurant space located in the northeast corner of Towne Square Mall, off 116th Street Gulf along U.S. Highway 1.
Property Size1,350 SF
Days on Market96
Property Features for 11400 Overseas Highway 116
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Business Opportunity
Zoning
MU - Mixed Use Commercial
Amenities
Central Air
Central
Building Details
Building Size
1,350 SF
Year Built
1973
Stories
1
Listing Agency:
Coldwell Banker Schmitt Real Estate Co.
Listed By:
Joshua James Mothner · License #659317
(305) 942-9519
Source:
Evrealestate
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 28 at 8:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Schmitt Real Estate Co.
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Investment Insights
Based on property information with market context.
This for-sale restaurant space is located within Towne Square Mall, with Frank’s Grill situated in the northeast corner of the plaza. The offering is positioned as a dedicated food and beverage use within an established shopping center setting.
From U.S. Highway 1, directions indicate taking 116th Street Gulf north and entering Towne Square Mall. The property is in Monroe County, and the address is 11400 Overseas Highway 116, Marathon, FL 33050.
From U.S. Highway 1, directions indicate taking 116th Street Gulf north and entering Towne Square Mall. The property is in Monroe County, and the address is 11400 Overseas Highway 116, Marathon, FL 33050.
Key Highlights
- Restaurant space located in the northeast corner of Towne Square Mall
- Off 116th Street Gulf along U.S. Highway 1
- Built in 1973
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,886
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,720
$417.7K
Cap Rate 7%
$298,371
$298.4K
Cap Rate 9%
$232,067
$232.1K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$29.2K $21.60/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$27.8K $20.63/SF
− OpEx
−$7.0K −$5.16/SF
NOI
$20.9K $15.47/SF
Area
Monroe County, FL
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,720
Cap Rate 7%
$298,371
Cap Rate 9%
$232,067
Alternative Uses
Best Use
Specialty Retail
$298.4K
$261.1K – $348.1K
NOI $20,886 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.0K
$475.2K – $633.5K
NOI $38,012 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33050, FL
10,479
Population
7,314
Households
1.4
Avg Household Size
50
Median Age
34%
College-Educated
90%
High-School Grad
9.1 sq mi
ZIP Area
1,152
Density / Sq Mi
$83,243
Median Household Income
$40,006
Median Earnings
$1,611
Median Rent
$705,600
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space located in the northeast corner of Towne Square Mall, off 116th Street Gulf along U.S. Highway 1.
Where is this conventional restaurant located?
The property is located at 11400 Overseas Highway 116 Marathon, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Restaurant space located in the northeast corner of Towne Square Mall; Off 116th Street Gulf along U.S. Highway 1; Built in 1973
