806 Indian River Dr - Mulligan's Marina

806 Indian River Dr, Sebastian FL 32958
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Mulligans Marina, nestled along the Intracoastal Waterway in serene Sebastian, Florida, is a charming family-owned and operated establishment. Offering a modern facility with stunning views of Northern Vero Beach Island, it provides visitors with an opportunity to immerse themselves in the beauty of clear blue waters while enjoying frequent sightings of dolphins, pelicans, and manatees in a laid-back atmosphere. Strategically located near Riverview Park and US Highway 1, Mulligans Marina has the potential to become a vibrant “Destination Location.” Moreover, being just 13 miles North of the affluent and highly sought-after Vero Beach, it is well-positioned to attract locals and tourists alike. Considering the significant seasonal population increase in both Sebastian and Vero Beach, there’s ample opportunity for growth and development at Mulligans Marina, making it an appealing investment prospect.
PROPERTY SUMMARY
WATERFRONT RESTAURANT
Opportunity: Acquire and develop this property, currently operating as a restaurant with a marina business, with potential for increased occupancy.
Rental Upside: Significant potential for increased rental income.
Tenant in Place: Purchase includes an established tenant, Mulligans Beach House Bar and Grill, with seating for 200 guests across 25 tables and 13 booths.
Proposed Restaurant Lease Terms:
• Initial term: 10 years
• Renewal options: Three 5-year renewals
• Rent increase: 3% annually starting from year 3
Indoor Seating
Enclosed Patio Seating features large opening windows, providing an outdoor feel and direct river views.
Inclusions: Sale includes fixtures and equipment, all in excellent condition. A full equipment list is available upon request.
Operational Status: The restaurant is fully operational and prepared to maintain excellent service.
Location: Ideally situated on the Intracoastal Waters near iconic “Pelican Island.”
Parking: The property offers 77 parking spaces with an option to acquire more.
MARINA
Recently built marina located on the Indian River
Composite Dock Reconstruction: Composite dock entirely rebuilt in 2024.
Slip Details: Offers 47 composite finger slips, including a mix of sizes ranging from 25’ to 35’ and one 40’, equipped with lifts up to 20,000 lbs.
Utilities and Amenities:
• Water and electrical hookups with pedestals featuring 20/30/50 Amp
• Each slip includes a dock box
• There are two cleaning stations available onsite
Security Features: Tenants have access to an app
to monitor their vessels via multiple security cameras.
Occupancy Status: Currently, 50% of the slips are leased, with leasing activity on the rise.
Land Lease Information: Submerged Marina Land is under a commercial land lease.
Water Depth and Frontage: Water depth ranges from 3 to 5 feet, with a frontage of 125 feet.
Rentable Commercial Space: Second floor offers rentable commercial space comprising 3 rooms, 2 bathrooms, a wraparound deck, and storage, direct riverfront views.
Prime Waterfront Location: The restaurant and marina boast prime waterfront setting offering breathtaking views of the Indian River. Adjacent to world famous beaches, less than 3 miles to Sebastian Inlet, no fixed bridge or speed restrictions.
Business Potential: Positioned strategically and equipped with modern utilities, the marina caters to the modern requirements of boat owners, ensuring a seamless and comfortable experience.
Comprehensive Facilities: Offering a comprehensive range of amenities, the marina and restaurant duo provide slips and lifts of various sizes to accommodate diverse vessel types. This makes it an ideal destination for boating enthusiasts seeking top-tier docking facilities.
Enhanced Convenience: To further streamline the experience for boat owners, Mulligans Marina features an on-site seafood restaurant and bar. This offers patrons a convenient spot to enjoy a meal before setting out on the water or upon returning home.
Upcoming Services: In the pipeline are provisioning services, set to debut soon. This initiative caters to the boaters needs in stocking up on essential supplies such as food, ice, beverages, and other provisions directly from the restaurant. This not only saves time and effort but also ensures a well-prepared and enjoyable boating excursion.