2221 W Lake DRIVE
About This Property
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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%.
How much can I actually make?
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.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 19, 2025 | Listed | $574,900 | |
| Listed | |||
| | |||
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Projected annual income potential of $38,000–$49,000+. This 3-acre property features a 3 bedroom / 2 bath home, a chicken coop, and a trailer hookup with light and sewage already in place. The setup offers multiple possible revenue streams in the fast-growing Wimauma corridor near West Lake and major new construction communities.
With its prime location directly across from Hillsborough County’s largest high school, this property also presents strong potential for builders or developers. A simple zoning change could allow for multifamily or other development opportunities in this booming area.
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| Aug 18, 2025 | Price Increased |
$574,900
↑ $200K
(53.4%) | |
| Price Increased | |||
| Aug 15, 2025 | Price Decreased |
$374,900
↓ $225K
(37.5%) | |
| Price Decreased | |||
| Jun 21, 2025 | Listed | $600,000 | |
| Listed | |||
| | |||
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Exceptional development opportunity in the heart of West Lake, Wimauma, Florida. Nearly 3 acres of prime land located directly across from Hillsborough County’s newest and largest high school, surrounded by rapid residential and commercial growth with new construction and infrastructure expanding throughout the area. Zoned AR with potential for an easy rezoning, this site offers outstanding possibilities for builders, investors, and developers seeking a high-visibility location. With proper zoning approvals, the property could support multiple future uses including multifamily, townhomes, car wash, daycare, or mixed-use development. No HOA or CDD fees. Convenient access to US-301, I-75, and SR-674 places this parcel within minutes of major retail, restaurants, and new housing communities. Sellers are motivated and will pay allowable closing costs for any buyer who goes under contract by November 5, 2025. A rare chance to secure a large parcel in one of Hillsborough County’s fastest-growing areas, ideal for land banking, development, or new-construction projects. Buyer to verify zoning and use with the county.
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| Aug 1, 2023 | Sold | ||
| Sold | |||
Property Highlights
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About Wimauma
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017