Renovated Office Condo
For Sale
$225,000
Pending
1640 Periwinkle Way, Sanibel, FL 33957
SINGLE_FAMILY - Sanibel, FL
Property Size987 SF
Lot Size0.14 Acres
Days on Market306
Property Features for 1640 Periwinkle Way
General Information
Property type
Residential
Property subtype
Office
Subdivision
SI01 - Sanibel Island
Standard status
Pending
APN
25-46-22-T2-00900.0030
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LIME TREE CENTER I COMM CONDO UNIT 3 OR 1267 PG 546
Tax Annual Amount
3605
Legal Description
LIME TREE CENTER I COMM CONDO UNIT 3 OR 1267 PG 546
Amenities
built-in workspaces
multiple offices
waiting room
receptionist area
restroom
washer and dryer
refrigerator
Building Details
Year built
1978
Floors in Building
1
Listing Agency:
McCallion and McCallion
(239) 472-1950
Listed By:
Susan McCallion · License #280596767
(239) 233-1388
Added: Oct 3, 2025
Changed: Jul 29
Last Checked: Aug 4 at 2:06PM
MLS# 2025012910
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
Completely renovated office condo space in an Office Units setting, featuring luxury vinyl plank flooring, pristine white cabinetry, and built-in workspaces. The interior includes multiple offices, a waiting room area, separate receptionist and assistant space, and a restroom within the unit with two sinks. Unit amenities also include a washer, dryer, and a full-sized refrigerator, supporting a flexible range of professional uses.
Located on Periwinkle Way at the heart of Sanibel Island, the space benefits from high visibility and easily accessible parking. It sits across from the Bank of the Islands and near Jerry’s Grocery Store, with proximity to beaches, golfing, boating, and shopping.
Built in 1978, this 987 SF unit is offered as flexible office space within a 0.142-acre site.
Located on Periwinkle Way at the heart of Sanibel Island, the space benefits from high visibility and easily accessible parking. It sits across from the Bank of the Islands and near Jerry’s Grocery Store, with proximity to beaches, golfing, boating, and shopping.
Built in 1978, this 987 SF unit is offered as flexible office space within a 0.142-acre site.
Key Highlights
- Completely renovated in 2024 with luxury vinyl plank flooring
- 987 SF flexible office condo with multiple offices and waiting room
- Separate receptionist and assistant space plus restroom within the unit
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.6k | $24.96 |
| − Vacancy | −$2.0k | −$2.05 |
| EGI | $22.6k | $22.91 |
| − OpEx | −$5.7k | −$5.73 |
| NOI | $17.0k | $17.18 |
987 SF · lease $24.96/SF/yr · vacancy 8.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$242.3K
$212.0K – $282.7K
NOI $16,962 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.7K
$271.8K – $362.4K
NOI $21,746 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 33957, FL
6,382
Population
8,525
Households
0.7
Avg Household Size
68
Median Age
62%
College-Educated
99%
High-School Grad
16.2 sq mi
ZIP Area
394
Density / Sq Mi
$122,730
Median Household Income
$44,840
Median Earnings
$747
Median Rent
$912,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Completely renovated flexible office condo with built-in workspaces, multiple offices, and restroom within the unit.
Where is this office units located?
The property is located at 1640 Periwinkle Way Sanibel, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Completely renovated in 2024 with luxury vinyl plank flooring; 987 SF flexible office condo with multiple offices and waiting room; Separate receptionist and assistant space plus restroom within the unit
