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Gulf Motel purchased; remodeling taking place
October 31, 2018

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The old Gulf Motel at 2700 Estero Boulevard was purchased on Sept. 20 for $1,299,000, and is currently undergoing some enhancements.

John Albion, the buyer's broker with Cushman & Wakefield Commercial Property Southwest Florida, said the goal is to get the property up to a certain standard that will clearly be a significant movement in a positive direction.

"We are obviously acutely aware of what has happened with the algae blooms and understand (the impacts) on the hospitality industry. Frankly it will buy us some time," he said, adding that time will be used to make some improvements.

The challenge,will be getting as much done as they can before season hits, Albion said.

The first year the building was on the tax roll was in 1926. According to the building construction and permit data work had been done to the property in 1989, 2003 and 2016, according to Albion.

The motel has 12 rooms and a pool.

"They have some work to do and they know it," Albion said. "They are diving into the water. They are going to get it up to a standard that they will be able to get a more predictable clientele, a standard and a demographic that will seek it out."

He said this is part of what they are seeing done on Fort Myers Beach, turnovers with operators coming in willing to put money into the property and making improvements they feel will work.

"This buyer feels good about Fort Myers Beach and some of the potential," he said. "The group he is involved with has a couple other properties on the Beach and other properties that stretch throughout Southwest Florida close to Tampa down to the Everglades."

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