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17924 SIMMS ROAD
About This Property
The largest listed lakefront tract on Lake Keystone: approximately 7.5 acres with roughly 300 feet of frontage on Hillsborough County's premier 434-acre ski lake, held by one family for more than eighty years. The shoreline faces the widest stretch of open water on Keystone, with the most expansive view on the lake and both sunrise and sunset over the water, where nearly every other lot gets one or the other.
The corner parcel runs 690 feet along Simms Road and 350 feet along Wayne Road: more than 1,000 feet of paved frontage, complete privacy from the street, a gated entry from either road, and frontage enough to re-plat into multiple parcels. ASC-1 zoning with no HOA allows one homesite for each upland acre; with more than five acres of high, dry upland in FEMA Zone X, the land supports several homesites or a single 6,000-to-10,000-square-foot estate with guest house, barns, horses, and a private court. A private boat ramp is in place, and the shoreline is ready for a seawall and dock.
Minutes from the new Keystone Recreation Center and the Upper Tampa Bay Trail; about 25 minutes to Tampa International Airport and Westchase. Survey, aerials, and site studies available on request. Lakefront tracts of this size and frontage on Keystone do not come to market. Shown by appointment.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 13, 2026 | Price Decreased |
$4,500,000
↓ $499K
(10%) | |
| Price Decreased | |||
| Mar 13, 2026 | Price Decreased |
$4,999,000
↓ $731K
(12.8%) | |
| Price Decreased | |||
| Jan 25, 2026 | Price Decreased |
$5,730,000
↓ $670K
(10.5%) | |
| Price Decreased | |||
| Oct 14, 2025 | Listed by COLDWELL BANKER REALTY | $6,400,000 | |
| Listed by COLDWELL BANKER REALTY | |||
| Dec 19, 2024 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017