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    1223 Periwinkle Way Sanibel, FL 33957

    For Sale
    $2,999,000

    SINGLE_FAMILY - Sanibel, FL

    Type:Retail
    Lot size:
    2.29 Acres
    Days on Market:
    186
    Last Refresh:
    Dec 13 at 2:06 pm

    Property Features for 1223 Periwinkle Way

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    APN
    19-46-23-T3-00014.0010
    Lot size
    2.29 Acres

    Building Details

    Year built
    1963
    Floors in Building
    1

    Premier Sotheby's Int'l Realty (239) 472-2735

    Listing agent Jeffrey Burns (239) 464-2984 License #280595636

    Listing date Jun 11, 2025

    Copyright © 2025 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Sanibel Island Development Opportunity

    This bank-owned property offers a development opportunity with 200 feet of frontage on Periwinkle Way and over 2.5 acres of land with waterfront features. Formerly home to the Jacaranda Restaurant and Bar, and most recently the Tipsy Turtle, this property is zoned General Commercial and D2 Upland Wetland. Initial assessments suggest the potential to construct 8-9 residential units. Zoning allows for a mixed-use development, combining residential living with a commercial component. The final residential count would vary depending on the footprint of the commercial structure. The property features a scenic central lake and frontage along the Sanibel River. This property is located in Sanibel, FL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tipsy Turtle Restaurant ... Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Auto Repair Shop Clothing Store Gym & Fitness Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sanibel
    County
    Lee
    State
    Florida
    Longitude
    -82.046308
    Latitude
    26.443912

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    FAQs

    What type of property is this?
    Retail property - 2.5-acre commercial parcel with waterfront features on Periwinkle Way.
    Where is this retail property located?
    The property is located at 1223 Periwinkle Way Sanibel, FL.
    What is the asking price?
    The asking price for this property is $2,999,000.
    What are key features of this property?
    This property features: - **200 feet of frontage on Periwinkle Way**, Sanibel's main commercial thoroughfare.; - **2.5-plus acres of developable land** zoned General Commercial and D2 Upland Wetland.; - Potential to construct 8-9 residential units or a mixed-use development.
    (239) 464-2984
    Request Owner's contact information
    1223 Periwinkle Way Sanibel, FL 33957
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    Sanibel, FL 33957
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1223 Periwinkle Way Sanibel, FL 33957
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