Off-Market Motel Opportunity in Fort Myers – Seeking Feedback on Strategy

[Trent Self]

Hey BP community,

We recently secured an off-market motel just outside Fort Myers, FL fully renovated, turnkey, and already producing income. It’s a 13-unit property that we were able to lock in at $2.75M, while the seller was originally asking $5.3M.

What really makes this one interesting is the upside:

• Zoning already approved to expand up to 24 units
• Current cap rate at acquisition: 7.38%
• Post-expansion projected cap rate: 16.76%
• Estimated value after expansion: $6.2M–$7.1M range

This property is part of a larger strategy we’re developing around repositioning boutique motels in high-demand Florida markets. We’re looking to build a small portfolio focused on value-add hospitality, and this Fort Myers asset could serve as a flagship.

Would love any feedback on the structure, location, or strategy from folks who’ve worked with similar assets or hospitality-focused deals.

Happy to chat more and exchange insights. Appreciate the community!