Hernando County Development Land

Land Description

5.98 ± acres of desirable multifamily land located in Brooksville near the Us-41 and Sr-50 corridor, and between two other apartment sites - Candlelight Apartments and Julep Apartments. Zoning allows for 18 residential units per acre. Located within a well-established area in Brooksville that offers a plethora of amenities, including grocery, banks, retail, and restaurants, all within minutes of the site.

The asking price of just $600,000 equates to an average cost per unit of $11,214.95 and per acreage cost of just over $100,000. Monthly apartment rents in the immediate area range from a low of $875 to $1,400.

This property does have an easement running through the middle, which is shared with the owner to the east. (see below - additional documentation available). This easement, to date, exists on paper only and has yet to be physically created.

The property is minutes away from two major roadways, desirable dining and shopping, including Publix, Wawa, Applebees, Walmart, Lowes, etc.

-5.98 Acres - Residential Vacant at US 41 & Broad Street, Brooksville.

-Zoned PDP Mf-Mh, City of Brooksville

-Offered at $100,334 per acre. The location is between two other apartment sites, with the continuance of multifamily apartments being the highest and best use.

-18 units allowable per acre. Easement (see below) and retention to be factored into the unit cost per apartment.

-The easement covers approx. 1.5 Ac.

-Water lines run in front of the property, sewer nearby, City of Brooksville.

-Survey available.

-Clean Phase 1 Environmental Report available from July 2022.

-Conveniently Located at US 41 & SR 50 (Broad & Cortez) - 22,500 Aadt.

-Minutes away from desirable dining and shopping - Publix, Wawa, Applebees, Walmart, Lowes, etc.

-Ingress & Egress Easement Information. There are documents recorded at the Hernando County Courthouse affecting this parcel. The first document is the Reciprocal Ingress and Egress Easement, with the adjacent

neighbor to the east. (While the easement exists on paper it has yet to be physically created). This easement is recorded in Book 644, Page 1832. This easement bisects the property, and is to be 24 feet wide. Please refer to the sketch found later in this flier.

-The other document is an Ordinance located in Book 949, page 1454.