33 ac in Opportunity Zone City of Brooksville

PROPERTY DESCRIPTION - The subject property is rectangular in shape and consists of approximately 33.2 acres at the intersection of SR 50 & Cobb Rd. in Brooksville, FL. The owner is willing to sell off 3 acres at the corner of SR 50 & Cobb Rd (see site plan on page five). The property is boarded on 3 sides with paved roads: SR 50 on the south side, Cobb Rd on the west side and Fort Dade Ave on the north side. Property is heavily wooded and is primed and ready for development. LOCATION DESCRIPTION - The property is located in the City of Brooksville (Hernando County) at the northeast corner of SR 50 and Cobb Rd, approximately 1.5 miles west of the central business district in downtown Brooksville, FL. The property is located in an Opportunity Zone. OPPORTUNITY ZONE - Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in targeted communities by reducing taxes for many job creators. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones. Opportunity Zones enhance local communities' ability to attract businesses, developers, and financial institutions to invest in targeted areas by allowing investors to defer capital gains taxes. MUNICIPALITY - City of Brooksville PROPERTY SIZE - 33.2 Acres ZONING - PDP FUTURE LAND USE - Commercial PARCEL ID - R20 222 19 2740 00A0 0020, R20 222 19 2740 00B0 0060, & R20 222 19 2740 00K0 0030. PRICE - 33.2 Total Acres - $4,000,000 3.0 Corner Acres - $1,500,000