Loading
BUYER: Rodenburg Family LLC, Stillwater, Minn.
SELLER: Dennis Hendrix
PROPERTY: 1539 Periwinkle Way, Sanibel
PRICE: $1.6 million
PREVIOUS PRICE: $257,500, September 1980
LAW FIRM ON DEED: Carey O'Malley Whitaker & Mueller PA, Tampa
PLANS, DESCRIPTION: The Rodenburg Family of Stillwater, Minn., purchased the 12-room Kona Kai Motel for $1.6 million.
The price equated to $133,333 per room.
The 8,146-square-foot motel backs up to the Olde Sanibel River and features motel rooms, efficiencies and suites.
“The new owners have taken possession of the property with plans to restore it to its original beauty,” says Brenda Cosentino, general manager of the motel. “We have a grassy area that they plan to set up for weddings.”
The motel is the Rodenburg family's second Sanibel hospitality property. They also own the Parrot Nest Motel at 1237 Anhinga Lane.
The Rodenburg Family mortgaged the motel to Sanibel Captiva Community Bank for $1.31 million.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
