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Eric Baird Sells Qualified Opportunity Zone Site in Brooksville, Florida

Eric Baird on Selling Qualified Opportunity Zone Site in Brooksville, Florida

BROOKSVILLE, FL, UNITED STATES , April 4, 2022 / -- Two and a half years after buying a 14-acre site ready for renovation or development, Eric Baird, a Sarasota-based entrepreneur and real estate investor, sold the property for $2.25 million.

The project site is outfitted with 63 completely demoed duplexes ready for a full renovation. This property is a particularly attractive development or renovation opportunity, being that it is located in a Qualified Opportunity Zone. Given the size of the property, it could be fully demoed and built out to a total of 213 units, and upward 50 feet in height, or about three stories tall. Alternatively, the property’s 126 units, originally constructed in 1980, could be fully renovated into a modern apartment community. With market rents in the area of $1,200-$1,800, the property has the potential to generate over $2 million in revenue per year.

Eric Baird and his team had planned to renovate these existing units and create a modern family-friendly apartment community. The local economy is significantly varied and very labor-intensive, which translates to increased demand for lodging resources. Current industries in the area include everything ranging from natural resource management and cattle-raising to electronics and manufacturing production. Given the growth potential possible with this investment, the return on the property site is likely to deliver on a timely investment now in anticipation of the expected growth projection for the region in the upcoming years. Hernando County continues to be a feeding channel for additional residents to Tampa Bay.

Eric Baird is the founder and CEO of the investment firm Baird Inc, which specializes in financing solutions to service the needs of small-cap and mid-market businesses.

As part of the firm's growing portfolio, it invests in under-utilized residential and commercial properties, helping communities grow and provide affordable housing in an increasingly competitive housing market.

For further details or inquiries, please reach out to Baird, Inc.

Caroline Hunter
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