Edgewater Inn sells for $2 million
The Edgewater Inn, an Estero Boulevard boutique vacation rental resort on Fort Myers Beach, has been sold for $2.05 million.
The three-story building, which housed four vacation properties had incurred damage from Hurricane Ian. In March, the town issued a permit for the demolition of the damaged pool and pool deck.
The purchaser of the property is Edgewater Inn FMB LLC, a Florida limited liability company. Charles Capps, a Fort Myers attorney with Pavese Law Firm, is the registered agent for the Fort Myers limited liability company. Capps did not return messages seeking comment.
The property was acquired in 2009 by a New York limited liability company with local and Minnesota ties for $1.2 million, and has served as a commercial vacation rental since the 1980’s.
JR Shaw, whose company RAL Resort Property Management oversaw the property for the previous owners, said the building incurred significant ground floor damage during Hurricane Ian.
“We are no longer in charge of the facility,” Shaw said. Shaw said the four vacation rentals on the property were accompanied by an outdoor pool.
“We were only the managing entity for approximately a year,” Shaw said, “There were a decent amount of renters that came from the European area.”
Shaw said the rental property was popular due to its location and its quietness with only four units spread across the three floors with full kitchens in the units along with washers and dryers.
The property is located near Times Square on the bay side, with a canal access.