NNN Leased Property in
For Sale
Contact for pricing
30251 Overseas Hwy, Big Pine Key, FL 33043
100% NNN leased property with a national A-rated tenant.
Property Size8,810 SF
Lot Size1.48 Acres
Price / SF$397.28
Days on Market342
Property Features for 30251 Overseas Hwy
General Information
Standard status
Active
Size
8,810 SF
Class
B
Lot size
1.48 Acres
Property subtype
Industrial, Office, Retail, Special Purpose
Zoning
SC - Sub Urban Commercial District
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
2007
Buildings
2
Stories
1
Tenancy
Single
Listing Agency:
RE/MAX All Keys Real Estate
(305) 296-1400
Listed By:
Greg Dully · License #SL3420625
Source:
Crexi
Added: Sep 5, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:06AM
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 RE/MAX All Keys Real Estate
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a 100% NNN leased property featuring a national A-rated tenant under a long-term lease. The tenant has maintained successful operations at this location for over 40 years and continues under a strong lease structure that includes three five-year renewal options, potentially extending the tenancy for 18 years and ensuring stable, long-term passive income. The property includes two reinforced concrete buildings with a total gross building area of 8,810 square feet, specifically constructed to serve as a hurricane-resistant bunker. Elevated construction mitigates flood risk, and a roof-mounted propane backup generator ensures continuous operations immediately following storms. The site is designed for resiliency and business continuity. Situated on 1.48 acres (64,632 square feet) in downtown Big Pine Key, the property benefits from high visibility, ample on-site parking, and a large outdoor storage area. Its location, tenant history, and construction quality position it as a premier investment in Monroe County.
Key Highlights
- 100% NNN leased property with A‑rated national tenant.
- Long‑term lease with three (3) five‑year renewal options (up to 18 years of potential tenancy).
- Hurricane‑resistant reinforced concrete buildings with elevated construction and propane backup generator.
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
$166,113
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
4.75%
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%
$3,322,260
$3.3M
Cap Rate 7%
$2,373,043
$2.4M
Cap Rate 9%
$1,845,700
$1.8M
Market Conditions
NOI Build-Up for 8,810 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
$264.3K $30.00/SF
− Vacancy
−$42.8K −$4.86/SF
EGI
$221.5K $25.14/SF
− OpEx
−$55.4K −$6.29/SF
NOI
$166.1K $18.86/SF
Area
Monroe County, FL
Vacancy
16.20%
Lease Rate
$30.00 /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%
$3,322,260
Cap Rate 7%
$2,373,043
Cap Rate 9%
$1,845,700
Alternative Uses
Best Use
Office B
$2.37M
$2.08M – $2.77M
NOI $166,113 @ 7.0% cap · market cap 4.75%
Second Best
Retail
$1.71M
$1.49M – $1.99M
NOI $119,487 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $248,061 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
373
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
Market
Vacancy Rate% for Office 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?
NNN property - 100% NNN leased property with a national A-rated tenant.
Where is this nnn property located?
The property is located at 30251 Overseas Hwy Big Pine Key, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 100% NNN leased property with A‑rated national tenant.; Long‑term lease with three (3) five‑year renewal options (up to 18 years of potential tenancy).; Hurricane‑resistant reinforced concrete buildings with elevated construction and propane backup generator.
