The Rise And Fall Of Ocean One Las Vegas: Why The $5 Lunch And 3-for-1 Cocktails Vanished In 2024 (And What's Replacing It In 2025)

The legendary Ocean One Bar & Grille, a fixture in the Miracle Mile Shops at Planet Hollywood for nearly two decades, permanently closed its doors in late 2024, marking the end of the most unbelievable cheap-eats deal on the entire Las Vegas Strip. For years, this establishment captivated budget-conscious tourists and locals alike with a seemingly impossible value proposition: a full lunch menu where every entree cost just $4.99 and an all-day 3-for-1 cocktail special. This sudden closure, which occurred in the final quarter of 2024, was not just about a lease dispute; it was the dramatic culmination of a "too good to be true" business model colliding with serious operational issues, including a notorious health code violation that sealed its fate. The closure has left a significant void in the Strip’s dining landscape, forcing visitors to seek new alternatives for affordable meals. As of December 2025, the former Ocean One location is undergoing a major transformation, set to become part of a brand-new, modern dining concept. This article dives deep into the shocking details behind the restaurant’s demise, its incredible legacy of ultra-cheap dining, and the exciting new food hall concept that is taking its place in early 2025.

The Unbeatable Value: Ocean One's $5 Lunch and 3-for-1 Cocktail Legacy

Ocean One Bar & Grille was not just a restaurant; it was a Las Vegas Strip anomaly. In a city defined by escalating prices and high-roller dining, Ocean One was the ultimate oasis of affordability. Its entire business model was built on high-volume traffic through the Miracle Mile Shops, a strategy that allowed it to offer prices that felt like a throwback to the 1990s.

The World-Famous $4.99 Lunch Menu

The cornerstone of Ocean One's fame was its incredible lunch special. From 11:30 AM until 3:00 PM (sometimes extended to 5:00 PM), the restaurant offered a full menu of gourmet entrees—including everything from pasta dishes and steak to fresh seafood and salads—with a price tag of just $4.99. The food quality was often described as "below average to average," but the value was universally praised as the best in Las Vegas. This deal created legendary lines that snaked through the mall, as thousands of visitors flocked to experience the impossible cheap eats.

The All-Day 3-for-1 Happy Hour

Equally famous, and arguably more staggering, was the all-day 3-for-1 cocktail special. For a flat price, typically $12 (or $10), patrons received three premium alcoholic beverages, including martinis made with spirits like Kettle One. This meant a single cocktail cost a mere $4, a price unheard of anywhere else on the Strip, where a standard drink can easily cost $18 to $25. This combination of a $5 meal and a $4 cocktail allowed a diner to "fill their belly and catch a buzz for under $20," making it a true travel hack for budget tourists.

The Shocking Collapse: Why Ocean One Permanently Closed

The abrupt closure of Ocean One in the fall of 2024 sent shockwaves through the Las Vegas community. While the restaurant had temporarily closed and reopened before, this time it was permanent, stemming from a combination of financial and health-related crises.

The Rent Dispute and Sudden Darkening

One of the primary factors cited for the final closure was a rent dispute with the management of the Miracle Mile Shops. The high-volume, low-margin business model of Ocean One relied on favorable lease terms, and when negotiations reportedly soured, the restaurant was forced to close overnight in September 2024. This immediate "darkening" of the space was the first sign that the cheap-eats powerhouse was truly done.

The "Cockroach One" Infestation Scandal

The most damaging factor, and the one that cemented the closure, was a severe health code violation. Reports from the Clark County Health Department detailed a multi-generational cockroach infestation. The infestation was found in critical areas, including the pastry station and the server station. This discovery led to the restaurant being ordered shut down by state inspectors, earning it the notorious nickname "Cockroach One" among some online communities. While the restaurant had previously faced temporary closures and health issues in its South Florida locations, the severity of the 2024 Las Vegas inspection proved to be the final straw, making a successful reopening virtually impossible.

The Future of the Space: Miracle Eats Food Hall (Opening 2025)

The former Ocean One location, once a beacon of budget dining, is now being transformed into a modern collective of eateries. The Miracle Mile Shops is capitalizing on the high-traffic area by replacing the single, massive restaurant with a diverse food hall concept. The new concept, expected to open in February 2025, is called Miracle Eats. This food hall aims to offer a collection of popular and diverse dining options, moving away from the single-restaurant model of its predecessor. The shift reflects a broader trend on the Strip toward curated, fast-casual dining experiences.

Confirmed Miracle Eats Tenants and Entities

The food hall will feature a variety of established and popular brands, providing visitors with a wide range of choices that will likely cater to a more contemporary taste than the old Ocean One menu. Confirmed tenants for the new Miracle Eats food hall include:

• Chipotle Mexican Grill: A popular choice for customizable, fast-casual Mexican food.
• Tacotarian: A highly-rated, all-vegan Mexican restaurant that will bring a unique, plant-based option to the Strip.
• Fat Tuesday: Known for its massive, colorful frozen daiquiris and New Orleans-style drinks.
• Carnegie Pizza: A new pizza concept, likely drawing inspiration from the famous New York-style slice.

This new collection of restaurants, while not offering the same single, ultra-cheap $5 meal, represents a significant upgrade in variety and quality for the Miracle Mile Shops. The replacement of the defunct Ocean One with a multi-concept food hall is a clear sign of the Strip's evolution, prioritizing diverse, brand-name dining over the controversial, high-risk cheap-eats model of the past.

Ocean Prime vs. Ocean One: A Crucial Distinction

It is vital for visitors to the Las Vegas Strip to understand that the closed Ocean One Bar & Grille is a completely different entity from the high-end steak and seafood restaurant, Ocean Prime Las Vegas. * Ocean One Bar & Grille: (CLOSED) Located at Miracle Mile Shops, famous for $5 lunch and 3-for-1 cocktails. * Ocean Prime Las Vegas: (OPEN) Located at 63 CityCenter, this is an upscale, fine-dining establishment known for its luxurious atmosphere and expensive, high-quality menu. Do not confuse the two; Ocean Prime remains a premier dining destination, while Ocean One is now a memory of Las Vegas's most audacious budget deal. The legacy of Ocean One will forever be tied to its incredible value and its unfortunate, controversial end, paving the way for the new Miracle Eats food hall in 2025.