2476 Citrus BlvdLeesburg, FL 34748

Property Details for 2476 Citrus Blvd

Year built

2001

Construction

CONCRETE BLOCKS

Lot size

1.31 AC

Property size (Sq ft)

29,756 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

15-19-24-0150-001-00300

APU

151924015000100300

Description

This exceptional investment opportunity presents a 67-key Sleep Inn hotel, a Choice Hotels property, located at 2476 Citrus Blvd, Leesburg, FL 34748. The hotel, built in 2001 and extensively renovated in 2021, boasts 41,703 square feet across four stories within a single building. Situated on a 1.41-acre lot on high-traffic Citrus Boulevard (over 37,900 vehicles daily), this property benefits from its proximity to major transportation arteries, including easy access to the Florida Turnpike and Interstate 75. Leesburg's strategic location near Orlando, a major tourism hub, provides access to significant demand generators including Walt Disney World, Universal Studios, and the upcoming Epic Universe. The hotel itself offers an array of amenities including an outdoor pool, restaurant, meeting/event space, business center, and fitness center. Leesburg's robust economy is further supported by a thriving retirement community, growing population (including The Villages), corporate offices (Progressive Insurance, proximity to Walt Disney Company operations), and several healthcare institutions (UF Health Leesburg Hospital, AdventHealth Waterman, Leesburg Regional Medical Center). Educational institutions like Lake-Sumter State College, UCF, and Beacon College also contribute to consistent demand. The area's strong tourism is further enhanced by Lake Harris and the Chain of Lakes, and the annual Leesburg Bikefest. The Orlando North submarket shows limited new hotel construction (3.3% room supply expansion), indicating a stable market with strong potential for sustained success. The property is zoned C-3. The asking price is $5,300,000.

• CAP approach

  CAP return

  Valuation

  6%

  $7,024,058

  6.5%

  $6,483,746

  7%

  $6,020,622

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,980,574

  Geo Method

  $10,980,574

• Alternative Use

  Use

  Valuation

  Residential

  $7,078,367

  Hospitality

  $6,483,746

  Educational

  $5,394,400

  Medical

  $5,579,922

  Retail

  $8,391,290

Location Insight

City

Leesburg

County

Lake

State

Florida

Latitude

28.8429

Longitude

-81.8956

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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