5565 E Silver Springs Boulevard, Silver Springs, FL 34488
sale
$1,577,500
|
Other
Courtesy Of Century21 J.W. Morton Real Estate, Inc
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. VirtuallyStaged.
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Property Features
- Age: Over 50 Years Old
- Amenities: Pool
- Cooling System: Window Unit(s)
- Cooling System: Central Air
- Cooling System: Wall/Window Unit(s)
- Exterior Type: Stucco
- Exterior Type: Wood Siding
- Exterior Type: Block
- Floor Covering: Vinyl
- Floor Covering: Tile
- Floor Covering: Carpet
- Heating System: Heat Pump (Heating)
- Heating System: Ductless (Heating)
- Legal Description: SEC 01 TWP 15 RGE 22 PLAT BOOK D PAGE 098 MONTEREY VILLAGE REVISED LOTS 1.2.3. & N 85 FT OF LOT 4 & 5 BLK G & THAT PART OF S 16 FT OF W 254 FT OF HINES ST LYING N OF & ADJ TO LOTS 1.2.3.4 BLK G
- MLSID: CC844225
- Roof Type: Membrane
- Roof Type: Metal
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