Sleep Inn Leesburg | 2476 Citrus Blvd
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Sleep Inn Leesburg 2476 Citrus Blvd
67 Room Hotel Leesburg, FL 34748 $5,300,000 ($79,104/Room) 7.59% Cap Rate
Investment Highlights
- Proven Revenue – On track to achieve over $1,300,000 in revenue for 2024, over an 11% increase year-over-year from November 2023 to November 2024
- Amenities – Hotel includes an Outdoor Pool, Restaurant, Meeting Event Space, Business and Fitness Center for guests to enjoy during their stay.
- Strong Brand Recognition – Sleep Inn is a recognizable and established brand within Choice Hotels International, Inc.
- Value-Add Potential – There remains substantial upside potential, as the property currently ranks 4 out of 5 in RevPAR within its Competitive Set.
- Strong Demand Drivers – Leesburg is known for its demand drivers, including a steady influx of interstate travel, a thriving retirement community.
- Tourist Destination – Located just outside the Orlando Hospitality Market, which is home to destination hotspots including Walt Disney World.
Executive Summary
Matthews Real Estate Investment Services is pleased to present an exceptional opportunity to acquire the 67-room Sleep Inn located at 2476 Citrus Boulevard in Leesburg, FL 34748. The hotel was renovated in 2021 and is situated on a large 1.41 acre lot on the highly trafficked Citrus Boulevard with over 37,900 drivers daily. The city of Leesburg is a suburb just outside of Orlando, one of the largest hotel markets in the country. For pricing guidance and additional information, please contact Matthews Real Estate Investment Services. Please refrain from contacting the hotel's staff, management, or ownership directly.
Corporate Demand Generators:
Leesburg and the surrounding areas are home to a variety of corporate offices and business centers that contribute to steady demand for hotel accommodations:
- Progressive Insurance: The company operates a regional office in nearby Lake Mary, driving corporate travel to the area.
- Walt Disney Company: While primarily known for its entertainment offerings, Disney’s vast corporate operations in Orlando also contribute to business travel in the region.
- Mission Inn Resort & Club: Located just a few miles away in Howey-in-the-Hills, this resort hosts numerous corporate events, conferences, and retreats, providing additional demand for nearby hotels.
Tourist Attractions and Leisure Demand:
Leesburg’s proximity to Orlando allows it to benefit from the influx of tourists visiting the area. Key attractions include:
- Walt Disney World and Universal Studios: These globally renowned theme parks are less than an hour’s drive from Leesburg, making the Sleep Inn an attractive option for tourists seeking more affordable accommodations outside the central Orlando area.
- Lake Harris and Chain of Lakes: Leesburg is surrounded by a series of interconnected lakes, offering recreational activities such as boating, fishing, and water sports, which attract outdoor enthusiasts year-round.
- Leesburg Bikefest: The largest motorcycle and music event in the Southeast, held annually in Leesburg, draws tens of thousands of visitors to the area, significantly boosting hotel occupancy.
Healthcare Institutions:
Leesburg is home to several key healthcare facilities that generate demand for hotel rooms, particularly for patients and their families, as well as healthcare professionals:
- UF Health Leesburg Hospital: A leading healthcare provider in the region, this hospital offers a wide range of medical services, including emergency care, surgery, and specialized treatments.
- AdventHealth Waterman: Located in nearby Tavares, this hospital is part of the larger AdventHealth network and provides comprehensive medical services, contributing to the flow of healthcare-related travel to the area.
- Leesburg Regional Medical Center: As part of the Central Florida Health Alliance, this center offers advanced medical care and attracts patients from surrounding counties, further boosting demand for local accommodations.
Educational Institutions:
Leesburg is within reach of several notable educational institutions, which contribute to the local economy and create demand for hotel accommodations:
- Lake-Sumter State College: Located in Leesburg, this community college serves thousands of students and hosts various events, workshops, and conferences throughout the year.
- University of Central Florida (UCF): With its main campus in Orlando and a regional campus in nearby Lake Nona, UCF is one of the largest universities in the country, drawing students, faculty, and visitors to the area.
- Beacon College: A private, non-profit college in Leesburg, Beacon College specializes in providing education for students with learning disabilities, attracting families and visitors from across the country.
Military Presence and Transportation Access:
- Naval Air Station Orlando: Although primarily located in Orlando, the proximity of this military base contributes to regional demand for hotel accommodations, particularly for military personnel and their families.
- Highway Access: The Sleep Inn is strategically located along Citrus Boulevard (US 27), providing easy access to major highways such as the Florida Turnpike and Interstate 75. This connectivity is crucial for both business and leisure travelers, facilitating travel throughout Central Florida.
- Orlando International Airport (MCO): Located approximately 50 miles from Leesburg, MCO is one of the busiest airports in the United States, handling over 50 million passengers annually. The airport’s vast network of domestic and international flights makes it a key transportation hub for the region
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Corporate Demand Generators:
Leesburg and the surrounding areas are home to a variety of corporate offices and business centers that contribute to steady demand for hotel accommodations:
- Progressive Insurance: The company operates a regional office in nearby Lake Mary, driving corporate travel to the area.
- Walt Disney Company: While primarily known for its entertainment offerings, Disney’s vast corporate operations in Orlando also contribute to business travel in the region.
- Mission Inn Resort & Club: Located just a few miles away in Howey-in-the-Hills, this resort hosts numerous corporate events, conferences, and retreats, providing additional demand for nearby hotels.
Tourist Attractions and Leisure Demand:
Leesburg’s proximity to Orlando allows it to benefit from the influx of tourists visiting the area. Key attractions include:
- Walt Disney World and Universal Studios: These globally renowned theme parks are less than an hour’s drive from Leesburg, making the Sleep Inn an attractive option for tourists seeking more affordable accommodations outside the central Orlando area.
- Lake Harris and Chain of Lakes: Leesburg is surrounded by a series of interconnected lakes, offering recreational activities such as boating, fishing, and water sports, which attract outdoor enthusiasts year-round.
- Leesburg Bikefest: The largest motorcycle and music event in the Southeast, held annually in Leesburg, draws tens of thousands of visitors to the area, significantly boosting hotel occupancy.
Healthcare Institutions:
Leesburg is home to several key healthcare facilities that generate demand for hotel rooms, particularly for patients and their families, as well as healthcare professionals:
- UF Health Leesburg Hospital: A leading healthcare provider in the region, this hospital offers a wide range of medical services, including emergency care, surgery, and specialized treatments.
- AdventHealth Waterman: Located in nearby Tavares, this hospital is part of the larger AdventHealth network and provides comprehensive medical services, contributing to the flow of healthcare-related travel to the area.
- Leesburg Regional Medical Center: As part of the Central Florida Health Alliance, this center offers advanced medical care and attracts patients from surrounding counties, further boosting demand for local accommodations.
Educational Institutions:
Leesburg is within reach of several notable educational institutions, which contribute to the local economy and create demand for hotel accommodations:
- Lake-Sumter State College: Located in Leesburg, this community college serves thousands of students and hosts various events, workshops, and conferences throughout the year.
- University of Central Florida (UCF): With its main campus in Orlando and a regional campus in nearby Lake Nona, UCF is one of the largest universities in the country, drawing students, faculty, and visitors to the area.
- Beacon College: A private, non-profit college in Leesburg, Beacon College specializes in providing education for students with learning disabilities, attracting families and visitors from across the country.
Military Presence and Transportation Access:
- Naval Air Station Orlando: Although primarily located in Orlando, the proximity of this military base contributes to regional demand for hotel accommodations, particularly for military personnel and their families.
- Highway Access: The Sleep Inn is strategically located along Citrus Boulevard (US 27), providing easy access to major highways such as the Florida Turnpike and Interstate 75. This connectivity is crucial for both business and leisure travelers, facilitating travel throughout Central Florida.
- Orlando International Airport (MCO): Located approximately 50 miles from Leesburg, MCO is one of the busiest airports in the United States, handling over 50 million passengers annually. The airport’s vast network of domestic and international flights makes it a key transportation hub for the region
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Franchise Information
Property Facts
| Price | $5,300,000 | Building Size | 29,756 SF |
| Price Per Room | $79,104 | No. Rooms | 67 |
| Sale Type | Investment | No. Stories | 4 |
| Cap Rate | 7.59% | Year Built/Renovated | 2001/2021 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 2.29/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.41 AC |
| Price | $5,300,000 |
| Price Per Room | $79,104 |
| Sale Type | Investment |
| Cap Rate | 7.59% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.41 AC |
| Building Size | 29,756 SF |
| No. Rooms | 67 |
| No. Stories | 4 |
| Year Built/Renovated | 2001/2021 |
| Tenancy | Single |
| Parking Ratio | 2.29/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 67 | $66.00 | - |
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PROPERTY TAXES
| Parcel Number | 15-19-24-0150-001-00300 | Improvements Assessment | $3,075,005 |
| Land Assessment | $478,307 | Total Assessment | $3,553,312 |
PROPERTY TAXES
Parcel Number
15-19-24-0150-001-00300
Land Assessment
$478,307
Improvements Assessment
$3,075,005
Total Assessment
$3,553,312
zoning
| Zoning Code | C-3 (Highway Commercial) |
| C-3 (Highway Commercial) |
-
David Loving -
Mitchell Glasson -
Matthews Real Estate Investment Services
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Sleep Inn Leesburg | 2476 Citrus Blvd
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