FL
Marion
Silver Springs
34488
5565 E Silver Springs Boulevard
5565 E Silver Springs Boulevard, Silver Springs, FL 34488
Share Listing
Listing Type
Commercial/Industrial
Listing Status
Pending
88
$1,577,500

Home Details for 5565 E Silver Springs Boulevard

Price
$1,577,500
Type
Commercial Sale
Year built
1963
Lot size acres
0.73
County
Marion
Days on site
389
MLS Listing#
844225
Property Description

Historic 40-room hospitality asset located 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 in the United States (2024), and directly across from Silver Springs State Park. The subject property is situated on 0.73 acres with approximately 121 feet of frontage on SR 40, a major east–west arterial that traverses the Ocala metropolitan area and provides regional connectivity. The asset consists of three buildings totaling 16,102 leasable square feet and was originally developed in 1963 as a Howard Johnson’s Motor Lodge adjacent to a former Howard Johnson’s Restaurant. The adjoining restaurant property has recently sold and is expected to undergo redevelopment. The site presents significant value-add potential through renovation, conversion, or redevelopment. The site is located within Catalyst Site #4 of the Silver Springs CRA Master Plan, which identifies the area for reinvestment and redevelopment. The plan contemplates the potential re-routing of SR 40, which may enhance site frontage and access, while encouraging neighborhood-scale mixed-use development, including retail and duplex or triplex residential development of up to 47 dwelling units, subject to applicable approvals. In addition to its location within the CRA, Marion County’s Special Use Permit (SUP) process allows alternative uses to be explored beyond the existing hospitality configuration. The selling entity has also provided conceptual renderings illustrating potential renovation scenarios under continued hospitality use, further demonstrating the site’s redevelopment flexibility. The Ocala MSA ranks #36 out of 200 large U.S. metros in the 2024 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. Further reinforcing long-term demand, the University of Florida’s Bureau of Economic and Business Research (BEBR) projects Marion County population growth of up to 30% by 2040. The asset is served by gas, electric, public water, and public sewer utilities and has benefited from roof updates in 2013 and 2022, helping reduce certain near-term capital expenditure requirements. This offering represents a rare opportunity to acquire a historically significant hospitality asset with exceptional visibility, location within a CRA-designated redevelopment area, and multiple paths to value creation in one of Florida’s most dynamic growth markets.

View Virtual Tour
Property Features
  • Cooling Information
    • Central Air
    • Wall/Window Unit(s)
  • Heating Information
    • Heat Pump
    • Wall Furnace
  • House Interior
    • High Ceilings
    • High Speed Internet
  • Water Features
    • Public
Listing Courtesy: Century 21 J.W.Morton R.E. - 352-726-6668
Presented by: Richard Fernley
The data relating to real estate for sale/lease on this website appears in part through the REALTORS® Association of Citrus County Broker Reciprocity program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which {{BROKERAGE}} participates. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than EXIT Realty are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information deemed reliable but is not guaranteed to be accurate and should be independently verified. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Copyright ©2026 REALTORS® Association of Citrus County. All Rights Reserved.
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Citrus County Association of Realtors.
EXIT RIVERSIDE REALTY
20156 E. Pennsylvania Ave, Dunnellon, FL 34432
Tracy DeVoe
License #: 3604722
Sales Representative
Office
352 462 7170
Agent
352 212 5554
Request more details
Code: