Frank’s Grill
For Sale
$489,000
11400 Overseas Highway #116, Marathon, FL 33050
Established dining operation with furnishings, equipment, inventory, and a beer-and-wine license included.
Property Size1,350 SF
Days on Market11
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 Mixed Use
Restaurant
Seating Capacity
57
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Building Details
Building Size
1,350 SF
Year Built
1973
Stories
1
Listing Agency:
Coldwell Banker Schmitt Real Estate Co.
(305) 942-9519
Listed By:
Joshua Mothner · License #659317
(305) 942-9519
Source:
Laerrealty
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 11 at 4:49AM
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.
Investment Insights
Based on property information with market context.
Frank’s Grill is an operating restaurant at 11400 Overseas Highway, #116, in Marathon. The offering includes furniture, fixtures, equipment, current inventory, proprietary recipes, and related business assets. Seating accommodates 47 guests indoors and 10 outdoors, for 57 total seats. A 2COP beer-and-wine license is currently in place, and the restaurant operates within a building constructed in 1973.
The restaurant occupies space in Towne Square Mall, a shopping plaza that also includes a U.S. Post Office. The site is zoned MU - Mixed Use Commercial Mixed Use. Lease terms provide for a new 5-year lease signed May 1, 2026, with a tenant renewal option after year 3, subject to assignment approval.
The restaurant occupies space in Towne Square Mall, a shopping plaza that also includes a U.S. Post Office. The site is zoned MU - Mixed Use Commercial Mixed Use. Lease terms provide for a new 5-year lease signed May 1, 2026, with a tenant renewal option after year 3, subject to assignment approval.
Key Highlights
- Restaurant business and operating assets at 11400 Overseas Highway, #116, Marathon, FL 33050
- 47 indoor seats and 10 outdoor seats, totaling 57
- Furniture, fixtures, equipment, current inventory, recipes, and proprietary assets included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,886
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established dining operation with furnishings, equipment, inventory, and a beer-and-wine license included.
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 business and operating assets at 11400 Overseas Highway, #116, Marathon, FL 33050; 47 indoor seats and 10 outdoor seats, totaling 57; Furniture, fixtures, equipment, current inventory, recipes, and proprietary assets included
