Port Charlotte hotel development on the market for $16M

The development site for an already approved La Quinta Inn & Suites by Wyndham is up for sale in Port Charlotte.

The property is at 22417 Hancock Ave., about five minutes north of the Sunseeker Resort Gulf Coast. The future site of the 84-room, three story La Quinta is on the market for $16 million, far less than the resort’s $200 million sale price and the $675 million Allegiant Travel Co. spent to build it.

The hotel property sits on 1.78-acres and, according to National Land Realty which is listing it, comes with feasibility studies, brand approval, civil and architectural plans, and furniture, fixtures and equipment (FF&E) budgeting.

This, the firm says, lets “a buyer skip straight to breaking ground.”

In addition to the plans, the zoning allows for restaurant, bar and nightclub uses which could create opportunities for additional revenue streams.

The property is currently owned by a company named Dion Development Corp. according to Charlotte County property records. The company got it through a quit claim deed earlier this year. The transaction is one of four transfers since 2017, all of which are tied to Gregory Dion and share a Port Charlotte address.

National Land Realty is based in Greenville, South Carolina and has offices in 33 states, including one each in Tampa and Jacksonville.

The firm’s Justin Koester and Tim Foster are representing the property, according to the listing.