5565 E Silver Springs Blvd - Hospitality FOR SALE


Silver Springs, FL 34488
$1,577,500 USD
352-464-2664
5565 E Silver Springs Blvd, Silver Springs, FL for Sale
$1,577,500 USD
Hospitality - FOR SALE
1/89
null | Request Cap Rate

5565 E Silver Springs Blvd
Silver Springs, FL 34488


HIGHLIGHTS

  • Part of Catalyst Site #4 in the Silver Springs CRA Master Plan, allowing for up to 47 residential units or mixed-use development.
  • Historic 40-room hospitality property located near a high-traffic, signalized intersection in the Ocala metro, across from Silver Springs State Park.
  • Features approximately 121 feet of frontage on State Road 40, with a 2024 AADT of 15,200, in the fastest-growing metro in the U.S.
  • Located in a metro with a 2023 GDP of nearly $16B and a projected population growth of up to 30% by 2040.
  • Adjoining retail/restaurant parcel recently sold and is anticipated to undergo redevelopment, further supporting ongoing corridor reinvestment.

OVERVIEW

Historic 40-room hospitality asset located directly across from Silver Springs State Park near the highly traveled intersection of SR 40 and SR/CR 35 in the Ocala, FL MSA. Ranked by the U.S. Census Bureau as the fastest-growing metro area in the United States in 2025, the Ocala MSA continues to experience substantial population, tourism, and economic growth, strengthening long-term demand fundamentals for hospitality and mixed-use development. Situated on approximately 0.73 acres with roughly 121 feet of frontage along SR 40, the property consists of three buildings totaling approximately 16,102 square feet. Originally developed in 1963 as a Howard Johnson’s Motor Lodge adjacent to a former Howard Johnson’s Restaurant, the asset offers a rare combination of historic roadside hospitality character, strategic visibility, and redevelopment potential. The adjoining restaurant parcel has recently sold and is anticipated to undergo redevelopment, further supporting corridor reinvestment and appreciation. Silver Springs State Park remains one of Florida’s most iconic natural attractions, attracting approximately 500,000 annual visitors according to Friends of Silver Springs State Park. The park features renowned glass-bottom boat tours, springs, kayaking, hiking trails, camping, and ecotourism amenities. The property’s proximity to the park positions the asset to benefit from continued tourism growth and regional visitation trends. The property is located within Catalyst Site #4 of the Silver Springs CRA Master Plan, which identifies the area for strategic reinvestment and redevelopment. The plan contemplates the potential rerouting of SR 40 while encouraging neighborhood-scale mixed-use development, including retail and duplex or triplex residential development totaling up to 47 dwelling units, subject to approvals. Marion County’s Special Use Permit (SUP) process may allow alternative uses beyond the existing hospitality configuration, creating flexibility for investors pursuing adaptive reuse, repositioning, or redevelopment strategies. Ownership has also commissioned conceptual renderings illustrating potential renovation scenarios under continued hospitality use. The Ocala MSA ranked #36 out of 200 large U.S. metros in the 2025 Milken Institute Best-Performing Cities Index and recorded an estimated 2023 GDP of approximately $16 billion according to Milken Institute and U.S. Bureau of Economic Analysis data. The University of Florida Bureau of Economic and Business Research projects Marion County population growth of up to 30% by 2040. The property is served by gas, electric, public water, and public sewer utilities and has benefited from roof improvements completed in 2013 and 2022, helping mitigate portions of near-term capital expenditure requirements. Opportunities of this scale and location directly adjacent to Silver Springs State Park are almost nonexistent, particularly within a CRA-designated redevelopment corridor in the fastest growing metropolitan area in the country. ***Showings by Appointment Only***

FOR SALE DETAILS

PRICE

$1,577,500 USD

PRICE/SF

$66 USD /SF

# OF ROOMS

40

PRICE/ROOM

$39,438 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value Add Opportunity - Ocala, FL MSA

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1963

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,799 SF

ZONING

B2

APN/PARCEL ID

24093-001-00

ASK ABOUT THIS PROPERTY

Richard FernleyCentury 21 J.W. Morton Real Estate, Inc.More Info
352-464-2664

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Richard FernleyCentury 21 J.W. Morton Real Estate, Inc.More Info
352-464-2664

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.