Mulligan’s Marina, located at 806 Indian River Drive in Sebastian, is currently on the market with an asking price of $11.5 million. Notably, the sale does not include the Mulligan’s Beach House restaurant business as they are a tenant.
The purchase includes the marina and a building that accommodates 200 guests, with seating across 25 tables and 13 booths. Mulligan’s Beach House currently leases the building. In addition, half of the marina slips are currently leased by other tenants.
“Mulligan’s 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,” according to the listing.
The lease agreement is set for an initial term of ten years, with the option for three additional 5-year extensions and a 3 percent rent escalation starting in the third year.
Positioned along the Indian River Lagoon, the property has a view of the Intracoastal Waterway and regular sightings of dolphins, pelicans, and manatees. It is conveniently located just 3 miles from the Sebastian Inlet and 13 miles north of Vero Beach.
The property is next to Riverview Park, a popular venue for festivals and events in Sebastian.
“There’s ample opportunity for growth and development at Mulligan’s Marina, making it an appealing investment prospect,” the listing says.
The property is listed by Bernadette Bunch at 772-200-4191.
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