Hi @PatrickJ
I know at a tenant level (All SharePoint sites) you can set a conditional access policy or restrict it from within SharePoint Admin Center, but below might be a solution at a site level.
You might be able to do this with a combination of sensitivity labels, conditional access and AAD authentication context.
You would need to create named network locations in a CA policy that contain the IP address you want to lock the site down too. And then apply a Authentication Context to the site:
https://learn.microsoft.com/en-us/sharepoint/authentication-context-example
However it is and E5 feature. I've tested this before on a different type of CA policy than named locations and it seemed to work fine.
Cited from https://www.reddit.com/r/sharepoint/comments/t6nuby/restrict_access_by_ip_at_site_level/
If this is helpful please accept answer.