Water-Access
For Sale
$699,000
1433 Sunset Road, Big Pine Key, FL 33043
Residential, Big Pine Key, FL
Property Size1,924 SF
Lot Size0.18 Acres
Price / SF$363.31
Days on Market370
Property Features for 1433 Sunset Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
ISD - Improved Sup Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2
Window features
Aluminum Frames
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Sun/Florida Room
Exterior features
Storage
Appliances
Washer, Dryer, Dishwasher, Refrigerator, Oven, Microwave
Subdivision
Tropical Bay (30.5)
Standard status
Active
APN
00313400-000100
Size
1,924 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
TROPICAL BAY-SECOND ADDN BIG PINE KEY PB5-73 PT TRACT C OR458-437-438 OR487-84 OR672-550 OR1347-1475 OR2504-1118 OR3068
Tax Annual Amount
5748
HOA Fee
$275 Monthly
Legal Description
TROPICAL BAY-SECOND ADDN BIG PINE KEY PB5-73 PT TRACT C OR458-437-438 OR487-84 OR672-550 OR1347-1475 OR2504-1118 OR3068
Utilities
Utilities
Cable Available
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water front
1
Building Details
Year built
1968
Floors in Building
1
Flooring type
Tile, Terrazzo
Building materials
CBS
Roof type
Tar/Gravel
Additional Structures
Storage
Listing Agency:
Action Keys Realty of the Lower FL Keys LLC
(305) 745-1323
Listed By:
Cheryl Moses · License #648470
(305) 304-7680
Added: Sep 8, 2025
Changed: Sep 3
Last Checked: Sep 12 at 4:06PM
MLS# 616469
Copyright © 2026 Marathon and Lower Keys Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,924 square feet on a 0.18-acre lot and was built in 1968 with CBS construction. The property includes tile and terrazzo flooring, a sunroom, patio, storage, and furnishings. Appliances include a washer, dryer, dishwasher, refrigerator, oven, and microwave, while cooling is provided by wall or window units.
Direct access to Bogie Channel supports boating use, and the lot is improved with a full seawall. The property is located at 1433 Sunset Road in Big Pine Key, Florida, and carries ISD - Improved Sup Duplex zoning. Cable is available at the property.
Direct access to Bogie Channel supports boating use, and the lot is improved with a full seawall. The property is located at 1433 Sunset Road in Big Pine Key, Florida, and carries ISD - Improved Sup Duplex zoning. Cable is available at the property.
Key Highlights
- 1,924‑square‑foot duplex on a 0.18‑acre lot
- Direct access to Bogie Channel with full seawall
- CBS construction; built in 1968
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
$32,231
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
4.61%
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%
$644,620
$644.6K
Cap Rate 7%
$460,443
$460.4K
Cap Rate 9%
$358,122
$358.1K
Market Conditions
NOI Build-Up for 1,924 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
$49.2K $25.56/SF
− Vacancy
−$3.1K −$1.63/SF
EGI
$46.0K $23.93/SF
− OpEx
−$13.8K −$7.18/SF
NOI
$32.2K $16.75/SF
Area
Monroe County, FL
Vacancy
6.37%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$644,620
Cap Rate 7%
$460,443
Cap Rate 9%
$358,122
Alternative Uses
Best Use
Multifamily LT 5
$460.4K
$402.9K – $537.2K
NOI $32,231 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$426.5K
$373.2K – $497.6K
NOI $29,856 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$773.9K
$677.2K – $902.9K
NOI $54,174 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 33043, FL
4,661
Population
3,003
Households
1.6
Avg Household Size
54
Median Age
27%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
281
Density / Sq Mi
$92,955
Median Household Income
$47,194
Median Earnings
$2,017
Median Rent
$563,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Furnished two-unit property with direct access to Bogie Channel, a full seawall, and storage space.
Where is this duplex located?
The property is located at 1433 Sunset Road Big Pine Key, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,924‑square‑foot duplex on a 0.18‑acre lot; Direct access to Bogie Channel with full seawall; CBS construction; built in 1968
