Investment Overview

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 the full 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 the PIP 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.