CANDLEWOOD SUITES FORT MYERS SANIBEL GATEWAY

INVESTMENT OVERVIEW

Hunter Havericak Hotel Group of Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the 120-room Candlewood Suites located in Fort Myers, Florida. The hotel is a four-story concrete structure built in 2009. Ownership finished a major renovation of the first floor, coordinated with IHG in 2024. Rooms on floors 2-4 are still in need a PIP renovation but the owner has completed items from that scope since the first floor renovation finished.
The Candlewood Suites sits in close proximity to access bridges for Fort Myers Beach and Sanibel, two highly popular leisure destinations. A significant percentage of the older structures in each market were demolished or severely damaged during Hurricane Ian and required redevelopment. New construction has been underway for some time and both markets are expected dramatically transform within a matter of years. Tourism has begun to rebound and has the potential to snowball in the near future as momentum continues to build.
Candlewood Suites Fort Myers Sanibel Gateway provides the opportunity for a new owner to acquire an extended-stay hotel at a low basis in a highly desirable South Florida market with arguably as much upside as anywhere in the Southeast.

INVESTMENT HIGHLIGHTS

• List Price Just Over $100,000 Per Key, Including Projected PIP Cost
• Below Market ADR, Indicating Post-PIP Upside
• Recent First Floor PIP Renovation, Along with Other Significant Renovations
• Increasing Running 12-Month Occupancy Year-Over-Year
• Long-Term Upside as Redevelopment in Sanibel and Fort Myers Beach Evolves
• Short Drive to Sanibel and Fort Myers Beach and Positioned to Benefit for Years From the Imminent Redevelopment of Those Markets Following Hurricane Ian
• Proximate to HealthPark Medical Center, Golisano Children's Hospital, Lee County Sports Complex, Gulf Coast Medical Center, Florida Gulf Coast University, and More