Brooksville BFR

Highlights

• Build For Rent Potential Site
• 42 Undeveloped Lots
• Impact Fees $5,700 Per Lot
• Hard Cost Estimate $200 Per Square Foot
• Hernando County Population 200,638 (2021)
• Zoning R1B - No Pre-Manufactured or Mobile Structures Allowed
• Electricity Available, Well and Septic Required
• Platting Grandfathered - Development Cost Reduction

Description

Introducing the Brooksville BFR Portfolio - an exceptional opportunity to invest in 42 undeveloped lots located in the heart of Brooksville, Florida. This property is part of the Tampa-St Petersburg-Clearwater MSA and is the county seat for Hernando County. The Brooksville BFR Portfolio is strategically located in a prime area with electricity readily available, and well/septic service required. The zoning for the property is R1B, which does not allow pre-manufactured or mobile housing, ensuring that the surrounding homes maintain their high value.

This investment opportunity boasts sixteen lots that will border a county-owned ponding area that is currently in natural condition. The Brooksville BFR Portfolio will require clearing and cleaning, as well as some leveling. The portfolio is mostly contiguous, allowing for desirable management economies of scale, making it an excellent choice for investors.

The Seller has provided early work product in the form of three different models available for development through a local builder. The address of 19254 Wildwood Drive is currently under construction and is available for sale separately from the portfolio at a list price of $274,900.00. The price for this address will be negotiated above the acquisition price for the Brooksville BFR Portfolio. This property is being separately marketed with collaboration through Derek Venema of Home Land Real Estate Inc via MLS Number W7850977.

The cost of construction for each home will be +/- $200 per foot including site condition remedies, depending on the model selected. Rents in the broader market for similar housing can range from $2,000 to $2,400, creating a healthy financial pro forma ripe for a sound investment. Don't miss this opportunity to invest in one of the most desirable areas of Brooksville, Florida with connectivity to the downtown core and Community Redevelopment Agency.

Welcome to the Brooksville BFR Portfolio, located in the heart of Hernando County, Florida, USA. With a population of approximately 8,000 residents, this charming city spans across 5.4 square miles and is situated in central Florida, just 50 miles north of Tampa and 60 miles west of Orlando. Known for its natural beauty and outdoor recreation opportunities, Brooksville is situated in a region referred to as Florida's Nature Coast. Its rich history dates back to the mid-19th century when the city was founded as a fort during the Second Seminole War and later incorporated in 1880.

The economy of Brooksville is based primarily on agriculture, tourism, and small businesses. It's famous for its production of blueberries, peaches, and other fruits and vegetables, and has several tourist attractions such as the Weeki Wachee Springs State Park and the Withlacoochee State Trail. Brooksville has a close-knit community that values its small-town atmosphere, and residents enjoy a low crime rate and proximity to many attractions such as Busch Gardens, Zoo Tampa, Florida Aquarium, Sea World, Universal Properties, Disney World Properties, Tampa Bay/Orlando Sporting Events, Tampa Bay/Orlando Nightlife, and the beautiful waters of the Gulf of Mexico. The city hosts several community events throughout the year, including the annual Blueberry Festival and Christmas Parade.

Brooksville's major employers are primarily in healthcare, education, government, and retail. The city is home to Bayfront Health, Hernando County School District, Walmart Distribution Center, Hernando County Government, Florida Department of Corrections, Hernando County Sheriff’s Office, Publix, and Accuform.

The Brooksville BFR Portfolio is ideally located just 1.5 miles from the downtown core of the city, where you'll find the Hernando County courthouse and Community Development Agency (CRA). This commercial real estate offering provides an excellent opportunity for investors seeking to establish or expand their presence in this thriving community. With its prime location and a supportive local business environment, the Brooksville BFR Portfolio is an excellent choice for a investor to develop market rate housing for area residents.