Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 1392 Blvd
- Year built
- 1989
- Lot size
- 1.75 lot acres
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This 50-key, three-story Quality Inn & Suites is offered at $4,400,000. Built in 1989 and extensively renovated between 2018 and 2023 (over $800,000 in improvements), this interior corridor hotel boasts a new roof, elevator, updated plumbing, renovated bathrooms, new furniture, new televisions, a new HVAC system, and a resurfaced parking lot and pool. The 1.75-acre property enjoys a prime location in Leesburg, Florida, directly off Highways 27 and 441, ensuring high visibility and accessibility. Its proximity to major attractions like Leesburg Bikefest (1.5 miles), Leesburg Art Festival (1.5 miles), Venetian Gardens (2 miles), and Lake Harris (2 miles) provides significant tourism potential. Furthermore, its location offers convenient access to The Villages (11.6 miles), Orlando (45.5 miles), and Orlando-Sanford International Airport (48.6 miles). The hotel's financial performance shows room revenue of $984,728 in 2022 and $890,943 in 2023. The 2023 ADR, RevPAR, and occupancy were $92.38, $47.30, and 51.2%, respectively. While the estimated change of ownership PIP is approximately $50,000, this requires verification by the franchisor. This presents an excellent opportunity for an owner-operator to capitalize on the existing infrastructure and strategic location to increase market share and potentially pursue upflagging opportunities, as multiple national brands have expressed interest.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Lake
- State
- Florida
- Longitude
- -81.8863
- Latitude
- 28.827
