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    5545 E Silver Springs Blvd Silver Springs, FL 34488

    View on Map
    Sponsored
    For Sale
    Pending
    $899,000

    SINGLE_FAMILY - Silver Springs, FL

    Type:Retail
    Property size:
    3,114 SF
    Lot size:
    0.55 Acres
    Days on Market:
    39
    Last Refresh:
    Mar 10 at 5:06 am

    Property Features for 5545 E Silver Springs Blvd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    Out of County
    APN
    0598941000
    Parking
    33
    Interior features
    HighCeilings, SolidSurfaceCounters, FirstFloorEntry
    Exterior features
    Landscaping, Lighting
    Fencing
    Privacy
    Size
    3,114 SF
    Lot size
    0.55 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1965
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Brick, Block, Concrete, Stucco
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Richard Fernley

    Century21 J.W. Morton Real Estate, Inc (352) 726-6668

    Listing agent Richard Fernley (352) 726-6668 License #3602811

    Listing date Jan 30, 2026

    MLS# 845183

    Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Restaurant on State Road

    This historic 3,114 square foot restaurant is located on the lighted corner of State Road 40 and County Road 35 in Silver Springs, Florida. Situated approximately 650 feet from the entrance to Silver Springs State Park, the property benefits from high visibility and year-round visitor traffic. The site encompasses 0.55 acres with approximately 500 feet of total road frontage. Originally developed in the 1940s as a Howard Johnson's Restaurant, the current structure was constructed in 1965 as a modernized Howard Johnson's. The restaurant was completely remodeled in 2019 and features a fully equipped commercial kitchen with natural gas cooking, including a pizza oven and fryer, a walk-in cooler, and dedicated storage areas. The dining room accommodates up to 120 patrons. The property previously held a 2COP retail beverage license, permitting the sale of beer and wine by the glass for on-premise consumption. The property lies within Catalyst Site #4 of the Silver Springs CRA Master Plan, which identifies the area for reinvestment and redevelopment. The plan contemplates potential re-routing of State Road 40, which could enhance site frontage and access, and encourages neighborhood-scale mixed-use development, including retail and duplex or triplex residential development of up to 47 dwelling units, subject to applicable approvals. Marion County's Special Use Permit (SUP) process allows alternative uses to be explored beyond the existing restaurant configuration.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Silver Springs Pizza Restaurant

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    El Puente Catering

    Location Insight

    • Map
    • Local Demand
    City
    Silver Springs
    County
    Marion
    State
    Florida
    Longitude
    -82.057637
    Latitude
    29.21747

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    FAQs

    What type of property is this?
    Restaurant - Renovated restaurant near Silver Springs State Park.
    Where is this restaurant located?
    The property is located at 5545 E Silver Springs Blvd Silver Springs, FL.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: - Fastest-Growing Metro: Located in the Ocala, FL MSA.; - Prime Location: Prominent corner location on State Road 40 and County Road 35, approximately 650 feet from Silver Springs State Park entrance.; - Redevelopment Potential: Situated within Catalyst Site #4 of the Silver Springs CRA Master Plan.
    (352) 464-2664
    Request Owner's contact information
    5545 E Silver Springs Blvd Silver Springs, FL 34488
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    Silver Springs, FL 34488
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5545 E Silver Springs Blvd Silver Springs, FL 34488
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    We can help!
    Listing Contact
    Richard Fernley
    Real Estate License ID: 3602811
    (352) 464-2664 (352) 726-6668
    Learn more
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