154 ac Planned for 385 SF Units + Commercial in Hernando

Vacant Land for Sale
Catylist Listing ID: 30712058
Property Subtypes: Agricultural, Multi-Family, Residential (Single Family), Retail
Gross Land Area: 154 Acres
Sale Price: $6,384,000
Unit Price: $41,454 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/30/2021

Overview / Comments

PROPERTY DESCRIPTION- The opportunity consists of 154± acres at the corner of US 19 & Centralia Rd. in Hernando County, FL. Currently zoned agricultural, there is a master plan for 385 single-family dwelling units and 120,000 sq.ft. of commercial.

LOCATION DESCRIPTION - The property is three contiguous parcels totaling 154± acres at the southeast corner of Centralia Road & US 19 in Brooksville, FL. The Suncoast Parkway and SR 50 (Cortez Blvd.) makes for an easy commute to Downtown Tampa and St. Petersburg. The surrounding area consists of a mixture of transitional land and single-family mhousing and mobile homes with heavy retail along SR 50 and the Suncoast Parkway exit. Just north of Centralia Road, a new extension of Suncoast Parkway from US 98 to SR 44 is currently underway and is expected to be completed in 2022. Immediately south of the site is a new complex of Elementary through 12 public schools.

Just a short distance (3 miles) south is a Publix anchored shopping center and a Walgreens drug store.

MUNICIPALITY - Hernando County

PROPERTY SIZE - 154± Acres

UTILITIES - County provided force main for sewer and water services are ready

ZONING AG - Likely requires rezoning to a mix of 40' & 50' lots. Using four upa new density for 144 acres, a yield of 576 lots plus 10 acres of commercial

FUTURE LAND USE - C/PDP: Residential with commercial at Centralia Rd. and US 19, planned 133 acres Residential, 14 acres commercial, seven acres recreation & open space

PARCEL ID - 940398, 940389, 1128782

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hernando
Tax ID/APN: R36 421 17 0000 0010 0010

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,346 17,663
Median Age: 38.38 50.79
Households: 1,905 7,553

Contact

Photograph of Listing Agent

William A. Eshenbaugh

Eshenbaugh Land Company CE-FL Member
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