Waterfront Duplex with Buildable
For Sale
$1,099,000
3836-3848 No Name Road, Big Pine Key, FL 33043
Other - Big Pine, FL
Property Size1,888 SF
Lot Size0.33 Acres
Price / SF$582.10
Days on Market86
Property Features for 3836-3848 No Name Road
General Information
Property type
Other
Property subtype
Duplex
Zoning
OTH - Other Zoning
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
Parking
4
Parking features
Off Street
Appliances
Dryer, Refrigerator
Subdivision
Port Pine Heights (29.0)
Directions
From Overseas Highway, turn onto Key Deer Blvd., drive until you turn onto Kyle Avenue, right on No Name Road and the property is on the left.
Standard status
Active
APN
00297280-000100
Size
1,888 SF
Lot size
0.33 Acres
Utilities
Cooling system
Ceiling Fan(s), Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1966
Roof type
Metal
Architectural style
Other
Listing Agency:
Engel & Völkers Marathon
Listed By:
Saara Victoria Staten
(305) 587-3663
Added: Jun 12
Changed: Jul 15
Last Checked: Sep 5 at 1:06AM
MLS# 618393
Copyright © 2026 Engel & Völkers. 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 waterfront offering includes a full duplex and an additional buildable vacant lot. The existing structure features concrete block construction with a metal roof, impact windows and impact doors. The property has 140 feet of direct water frontage and includes approximately 70 feet of concrete dockage, with deep, clean canals.
Located at 3836–3848 No Name Road in Big Pine, Florida (Monroe County), the site totals approximately 14,420 square feet and is listed under “OTH – Other Zoning.”
For buyers seeking waterfront living with income-producing residential space and room to expand on-site, the combination of the duplex and adjacent buildable lot provides a flexible layout for redevelopment or future construction.
Located at 3836–3848 No Name Road in Big Pine, Florida (Monroe County), the site totals approximately 14,420 square feet and is listed under “OTH – Other Zoning.”
For buyers seeking waterfront living with income-producing residential space and room to expand on-site, the combination of the duplex and adjacent buildable lot provides a flexible layout for redevelopment or future construction.
Key Highlights
- 140 ft of direct waterfront frontage on a 14,420 sq ft lot
- Includes a full duplex plus an additional buildable vacant lot
- Concrete dockage with 70 ft of concrete dock
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
$31,628
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
2.88%
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%
$632,560
$632.6K
Cap Rate 7%
$451,829
$451.8K
Cap Rate 9%
$351,422
$351.4K
Market Conditions
NOI Build-Up for 1,888 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
$48.3K $25.56/SF
− Vacancy
−$3.1K −$1.63/SF
EGI
$45.2K $23.93/SF
− OpEx
−$13.6K −$7.18/SF
NOI
$31.6K $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%
$632,560
Cap Rate 7%
$451,829
Cap Rate 9%
$351,422
Alternative Uses
Best Use
Multifamily LT 5
$451.8K
$395.4K – $527.1K
NOI $31,628 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$418.5K
$366.2K – $488.3K
NOI $29,297 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$759.4K
$664.5K – $886.0K
NOI $53,160 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex property offers direct waterfront access plus an additional buildable vacant lot on deep, clean canals.
Where is this duplex located?
The property is located at 3836-3848 No Name Road Big Pine Key, FL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 140 ft of direct waterfront frontage on a 14,420 sq ft lot; Includes a full duplex plus an additional buildable vacant lot; Concrete dockage with 70 ft of concrete dock
