Neptune Resort property up for sale

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The Neptune Resort dated back to the 1960's and was one of the last of the old Florida hotels still standing on Fort Myers Beach after Hurricane Ian. Photo by Nathan Mayberg

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The Town of Fort Myers Beach Council approved a Commercial Planned Development in December for the Neptune Resort which granted the owners approvals to double the size of the hotel from 71 rooms to 140 rooms. The old resort's buildings were demolished. Photos by Nathan Mayberg

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The owners of the Neptune Resort property, who received approvals in 2024 from the Town of Fort Myers Beach Council for a higher-density rebuild of the hotel, have now put the former resort property up for sale at 2310 Estero Boulevard.

The Town of Fort Myers Beach Council voted to allow the owners to double the size of the hotel from 71 rooms to 140 rooms in a 4-1 vote in 2024. Mayor Dan Allers was the lone vote against granting the deviations, citing concerns about the plans from neighbors. In addition to doubling the size of the hotel, the plans include a new restaurant and tiki bar.

The owners were given approval for a six-story, 81-feet high hotel that would include a parking garage with two levels. The owners are also supposed to build 16 public parking spaces along Delmar Avenue.

The property incurred significant damage from Hurricane Ian. The owners and their planner said the hotel couldn’t be saved, so it was demolished last spring.

The 2.46 acre property was purchased by Continental Hospitality Group and Springboard Hospitality in 2022 for $27 million, just months before Hurricane Ian.

The resort was one of the oldest family hotels on Fort Myers Beach, dating back to the 1960’s. The rezoning of the site will allow for 131,333 square feet of building area with accessory retail, a full service restaurant/bar, and additional recreational amenities for up to 250,440 square feet of total project area, according to LSI Companies.

Justin Thibaut, president and CEO of LSI Companies, is marketing the property. He said the ownership group of the Neptune “determined that the ground-up development of what will be a transformative hospitality project for the island is not consistent with their investment strategy within the region. Now, they have set the stage for a new group to capitalize and deliver the project with a majority of the heavy permitting legwork completed, allowing a quicker route to shovel-in-ground and vertical development of the project.”

Thibaut said no price has been set for the property. LSI Companies is handling any inquiries.

Fort Myers Beach Observer Editor Nathan Mayberg can be reached at NMayberg@breezenewspapers.com