Spacious Condo in 55+
For Sale
$199,900
1526 LELAND DRIVE 1525, Sun City Center, FL 33573
Move-in-ready 2 bed, 2 bath condo in Kings Point.
Property Size1,878 SF
Lot Size0.05 Acres
Price / SF$106.44
Days on Market578
Property Features for 1526 LELAND DRIVE 1525
General Information
Standard status
Active
Size
1,878 SF
Lot size
0.05 Acres
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$983
Building Details
Year Built
1989
Listing Agency:
COLDWELL BANKER REALTY
(813) 714-3811
Listed By:
Beth Christo · License #678931
(813) 714-3811
Source:
Exitrealty
Added: Jan 10, 2025
Changed: Aug 8
Last Checked: Aug 11 at 7:28AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Located in the 55+ gated community of Kings Point, this 1,878 sq. ft. condo features 2 bedrooms and 2 full baths. The home includes plantation shutters and luxury vinyl flooring throughout. Newer windows, flooring, roof, and A/C, plus two skylights brighten the living space. An updated electrical panel is also present. The property has screened-in front and back porches and a roll-up screen door on the garage. Kings Point offers amenities, including a clubhouse, heated pools, and pickleball and tennis courts. The home includes the Kings Point Gold Tier Home Warranty. Fees are estimated to include Spectrum Cable TV with 200+ channels, DVR and High-speed internet, grounds maintenance, water, sewer & trash, pest control, exterior insurance, escrow reserves, common area taxes, outside maintenance such as roof repairs and painting, 24 hour guarded gate, community pool & clubhouse, Recreational facilities and activities.
Key Highlights
- Located in the highly sought‑after 55+ gated community of Kings Point with resort‑style amenities.
- Move‑in ready 2‑bedroom, 2‑bath condo with 1,878 sq. ft. offering a serene and maintenance‑free lifestyle.
- Features newer windows, flooring, roof, and A/C, plus an updated electrical panel.
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
$17,272
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
8.64%
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%
$345,440
$345.4K
Cap Rate 7%
$246,743
$246.7K
Cap Rate 9%
$191,911
$191.9K
Market Conditions
NOI Build-Up for 1,878 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
$33.8K $18.00/SF
− Vacancy
−$2.4K −$1.28/SF
EGI
$31.4K $16.72/SF
− OpEx
−$14.1K −$7.52/SF
NOI
$17.3K $9.20/SF
Area
Hillsborough County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$345,440
Cap Rate 7%
$246,743
Cap Rate 9%
$191,911
Alternative Uses
Best Use
Apartment 5plus
$246.7K
$215.9K – $287.9K
NOI $17,272 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.9K
$475.9K – $634.5K
NOI $38,072 @ 7.0% cap · market cap 19.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 33573, FL
30,913
Population
17,168
Households
1.8
Avg Household Size
68
Median Age
34%
College-Educated
94%
High-School Grad
16.8 sq mi
ZIP Area
1,840
Density / Sq Mi
$68,431
Median Household Income
$46,435
Median Earnings
$1,951
Median Rent
$270,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Move-in-ready 2 bed, 2 bath condo in Kings Point.
Where is this residential income property located?
The property is located at 1526 LELAND DRIVE 1525 Sun City Center, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Located in the highly sought‑after 55+ gated community of Kings Point with resort‑style amenities.; Move‑in ready 2‑bedroom, 2‑bath condo with 1,878 sq. ft. offering a serene and maintenance‑free lifestyle.; Features newer windows, flooring, roof, and A/C, plus an updated electrical panel.
