34-Unit Apartment
New
For Sale
$6,000,000
1200 West Jefferson Street, Brooksville, FL 34601
All residences have a consistent two-bedroom, two-bathroom layout and are currently leased below market.
Property Size32,300 SF
Days on Market6
Property Features for 1200 West Jefferson Street
General Information
Standard status
Active
Size
32,300 SF
Property subtype
Multifamily
Net Operating Income
$24,750
Units
Unit Mix
34 x 2BR/2BA
Multifamily Units
34
Building Details
Building Size
32,300 SF
Listing Agency:
Nye Commercial Advisors
Listed By:
Brent Nye · License #SL3025522
(813) 997-3333
Source:
Nyecommercial
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 3:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nye Commercial Advisors
Investment Insights
Based on property information with market context.
The Brooksville property contains 34 apartments, each configured with two bedrooms and two bathrooms. Current rents are below market. An additional 2.1 acres is available, with zoning for 20 units, offering a potential development component alongside the existing residences.
The property is in Hernando County, positioned between two MetroLagoons communities.
The property is in Hernando County, positioned between two MetroLagoons communities.
Key Highlights
- 34 apartments, each with two bedrooms and two bathrooms
- Current rents are below market
- Additional 2.1 acres available, zoned for 20 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$297,066
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,941,320
$5.9M
Cap Rate 7%
$4,243,800
$4.2M
Cap Rate 9%
$3,300,733
$3.3M
Market Conditions
NOI Build-Up for 32,300 SF
Gross rent
$581.4K $18.00/SF
− Vacancy
−$41.3K −$1.28/SF
EGI
$540.1K $16.72/SF
− OpEx
−$243.1K −$7.52/SF
NOI
$297.1K $9.20/SF
Area
Hernando County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,941,320
Cap Rate 7%
$4,243,800
Cap Rate 9%
$3,300,733
Alternative Uses
Best Use
Apartment 5plus
$4.24M
$3.71M – $4.95M
NOI $297,066 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.36M
$6.44M – $8.58M
NOI $515,043 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
34
Residential units
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 34601, FL
23,001
Population
12,276
Households
1.9
Avg Household Size
50
Median Age
20%
College-Educated
88%
High-School Grad
114.0 sq mi
ZIP Area
202
Density / Sq Mi
$56,365
Median Household Income
$35,182
Median Earnings
$1,066
Median Rent
$151,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - All residences have a consistent two-bedroom, two-bathroom layout and are currently leased below market.
Where is this apartment building located?
The property is located at 1200 West Jefferson Street Brooksville, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 34 apartments, each with two bedrooms and two bathrooms; Current rents are below market; Additional 2.1 acres available, zoned for 20 units
