Remodeled Residential Income
For Sale
$215,000
18593 Bridle Club Dr, Tampa, FL 33647
Third-floor condominium with three bedrooms, two updated bathrooms, and access to extensive gated-community amenities.
Property Size1,335 SF
Price / SF$161.05
Days on Market32
Property Features for 18593 Bridle Club Dr
General Information
Standard status
Active
Size
1,335 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
Preferred Shore LLC
(941) 556-9100
Listed By:
Alan Atchley
(941) 556-9100
Source:
Atchleyrealty
Added: Jul 30
Changed: Aug 30
Last Checked: Aug 30 at 2:20PM
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 Preferred Shore LLC
Investment Insights
Based on property information with market context.
This third-floor condominium at Equestrian Parc at Highwoods Preserve offers 1,335 square feet with three bedrooms and two updated bathrooms. The residence has been fully remodeled with contemporary finishes and is presented as move-in ready. Built in 2003, it combines updated interior space with access to a broad set of community amenities.
Residents have use of a swimming pool and spa, clubhouse, fitness center, tennis courts, sand volleyball, picnic and grilling areas, and walking paths within the gated community. The property is located at 18593 Bridle Club Dr in Tampa, with access to Bruce B. Downs Boulevard and I-75. Shopping, dining, and entertainment destinations include The Shops at Wiregrass, Tampa Premium Outlets, The Grove at Wesley Chapel, and Cypress Creek Town Center. AdventHealth Wesley Chapel, Moffitt Cancer Center, and the University of South Florida are also identified in the surrounding area.
Residents have use of a swimming pool and spa, clubhouse, fitness center, tennis courts, sand volleyball, picnic and grilling areas, and walking paths within the gated community. The property is located at 18593 Bridle Club Dr in Tampa, with access to Bruce B. Downs Boulevard and I-75. Shopping, dining, and entertainment destinations include The Shops at Wiregrass, Tampa Premium Outlets, The Grove at Wesley Chapel, and Cypress Creek Town Center. AdventHealth Wesley Chapel, Moffitt Cancer Center, and the University of South Florida are also identified in the surrounding area.
Key Highlights
- Fully remodeled 1,335 SF third‑floor condominium
- Three bedrooms and two updated bathrooms
- Gated Equestrian Parc at Highwoods Preserve community
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
$12,114
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
5.63%
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%
$242,280
$242.3K
Cap Rate 7%
$173,057
$173.1K
Cap Rate 9%
$134,600
$134.6K
Market Conditions
NOI Build-Up for 1,335 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
$23.7K $17.76/SF
− Vacancy
−$1.7K −$1.26/SF
EGI
$22.0K $16.50/SF
− OpEx
−$9.9K −$7.42/SF
NOI
$12.1K $9.07/SF
Area
ZIP 33647
Vacancy
7.10%
Lease Rate
$17.76 /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%
$242,280
Cap Rate 7%
$173,057
Cap Rate 9%
$134,600
Alternative Uses
Best Use
Apartment 5plus
$173.1K
$151.4K – $201.9K
NOI $12,114 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$301.3K
$263.7K – $351.6K
NOI $21,094 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 33647, FL
69,457
Population
27,960
Households
2.5
Avg Household Size
36
Median Age
60%
College-Educated
96%
High-School Grad
32.4 sq mi
ZIP Area
2,144
Density / Sq Mi
$104,775
Median Household Income
$55,450
Median Earnings
$1,784
Median Rent
$437,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor condominium with three bedrooms, two updated bathrooms, and access to extensive gated-community amenities.
Where is this residential income property located?
The property is located at 18593 Bridle Club Dr Tampa, FL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Fully remodeled 1,335 SF third‑floor condominium; Three bedrooms and two updated bathrooms; Gated Equestrian Parc at Highwoods Preserve community
