Nokomis investors put contract on El Patio Hotel

David and Susan Macrae of Nokomis have signed a contract to buy the historic El Patio Hotel in Venice for $2.2 million. The agreement, which is still in its due diligence period, is scheduled to close in May.

The 16-room El Patio Hotel, located at 229 W. Venice Ave., is the only remaining operating hotel in downtown Venice. The 1927-era Mediterranean revival-style building is listed in the National Register of Historic Places. It has been owned and operated by the Miles Family since 1949.

Courtney Green and Patty Wheeler of Signature Sotheby's International Realty represented the seller and Bonnie Price and Richard Bradway of Signature Sotheby's International Realty represented the buyer.

Late last year, the Macraes sold their Casey Key home for $1.76 million.