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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Rickenbacker Dr Sun City Center, FL 33573-5332

    • Medical offices
    • 12,656 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $2,000,000
    Value Estimations
    $1,905,000
    Show details
    Cap Rate Potential
    6.9%
    Medical offices
    Location Intelligence
    Property ID
    US18-4068552
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 1601 Rickenbacker Dr

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.04 lot acres
    Property size
    12,656 SF
    Zone code
    CG
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    U123219ZZZ000001783700
    APU
    U123219ZZZ000001783700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,690,000
      ML approach
      $1,795,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,945,000
      6.5%
      $1,795,000
      7%
      $1,670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,164,000
      Market price range: $2.08M - $4.24M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,135,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,085,000
      Change: -2% Conversion: Difficult
      RETAIL STORES
      $2,755,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $2,675,000
      Change: -15% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,665,000
      Change: -15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sun City Center
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.3543
    Latitude
    27.7129
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $29,904
    $339,765
    $1,347,535
    $1,687,300
    -
    $339,765
    $1,347,535
    $1,687,300

    Comparable in this City

    • Value Estimation
      $1,125,000
      9,261 SF

      4031 Uppr Crk Dr

      MEDICAL BUILDING • 9,261 SF
      4031 Uppr Crk Dr, Sun City Center, FL 33573-6819
      View Details
    • Value Estimation
      $1,060,000
      10,884 SF

      3909 Galen Ct Ste, Unit 101

      MEDICAL BUILDING • 10,884 SF
      3909 Galen Ct Ste, Sun City Center, FL 33573-6824
      View Details
    • Value Estimation
      $1,630,000
      6,470 SF

      720 Cortaro Dr

      MEDICAL BUILDING • 6,470 SF
      720 Cortaro Dr, Ruskin, FL 33573-6811
      View Details
    • Value Estimation by Request
      3,554 SF

      920 Cypress Vlg Blvd

      MEDICAL BUILDING • 3,554 SF
      920 Cypress Vlg Blvd, Ruskin, FL 33573-6828
      View Details
    • Value Estimation by Request
      4,456 SF

      938 Cypress Vlg Blvd

      MEDICAL BUILDING • 4,456 SF
      938 Cypress Vlg Blvd, Ruskin, FL 33573-6835
      View Details
    • Value Estimation
      $765,000
      5,740 SF

      952 Cypress Vlg Blvd

      MEDICAL BUILDING • 5,740 SF
      952 Cypress Vlg Blvd, Ruskin, FL 33573-6830
      View Details

    Similar Nearby for Sale

    • $4,250,000
      10,584 SF

      Medical/Office Building on Two Acres

      Premium medical/office building with modern amenities on two acres.
      772 Cortaro Dr, Sun City Center, FL 33573
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    • $4,250,000
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      Commercial Medical Building on 2 Acres

      Premium medical building with modern amenities and strategic location.
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    • $1,983,000
      3,500 SF

      Medical Office Investment Opportunity

      Single-tenant medical office in a growing Sun City Center community.
      946 Cypress Village Blvd, Ruskin, FL 33573
      View Details
    • $849,900
      1,500 SF

      Turnkey Office Condo in Sun City

      Professionally designed office condo in a rapidly growing area.
      934 Cypress Village Blvd, Sun City Center, FL 33573
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    • $849,900
      1,500 SF

      Turnkey Office Condo in Sun City

      Professionally designed office condo in a prime location.
      934 Cypress Village Blvd, Sun City Center, FL 33573
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    • $5,000,000
      13.00 Acres

      Ruskin Commercial Land Opportunity

      13 Acres, Mixed-Use Zoning, High Visibility
      0 19Th Ave, Ruskin, FL 33573
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,773 SF

      Sun City Center Office Space

      Office space available near major roadways and retail.
      101 S Pebble Beach Blvd, Sun City Center, FL 33573
      View Details
    • Contact for pricing
      2,208 SF

      Sun City Center Office Space

      Office space available near major roadways and retail areas.
      139 S Pebble Beach Blvd, Sun City Center, FL 33573
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in South Bay

      Retail space available in a busy shopping center.
      761-793 Cortaro Dr, Ruskin, FL 33573
      View Details
    • Contact for pricing
      97,654 SF

      Sun City Center Retail Plaza

      High-traffic retail space available.
      0 Sun City Center Blvd, Sun City Center, FL 33573
      View Details
    • Contact for pricing
      5,558 SF

      Retail Space in Sun City

      Retail space available in a busy Sun City center.
      1601 Sun City Center Plz, Ruskin, FL 33573
      View Details
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    Sun City Center, FL 33573-5332
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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