Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2163 Periwinkle Way Sanibel, FL 33957

    Sponsored
    For Sale
    $4,750,000

    COMMERCIAL - Sanibel, FL

    Lot size:
    3.82 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 3 at 11:06 pm

    Property Features for 2163 Periwinkle Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    25-46-22-T1-00002.0020
    Lot size
    3.82 Acres

    We can help!

    Listing Contact
    Dawn Marie Ramsey

    Pfeifer Realty Group (239) 472-0004

    Listing agent Dawn Marie Ramsey (239) 233-2976 License #280597316

    Listing date Jan 30, 2026

    MLS# 225016441 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Sanibel Island Mixed-Use Development Opportunity

    This property, envisioned as the Island Cow Village, presents a combined residential and commercial development opportunity. Approved plans include a restaurant within the General Commercial District and eight residential home sites, consisting of three single-family residences, one duplex, and one triplex. Previously, the site was home to the Island Cow Restaurant, known for its reputation among locals and tourists. The sale encompasses the land, business rights, approved plans, and the Island Cow brand. The location is near the Community House and City Park along the island's main thoroughfare, offering exposure and proximity to the City Center. The area experiences a high volume of pedestrian, cyclist, and vehicle traffic. It is located near the Periwinkle Plaza Mall, Village Shops, Library, and Farmers Market. Plans are included for a turnkey project, with experienced local contractors, engineers, and restaurant designers available to start. The estimated restaurant build time is eight months with the current builder and approved plans. Approved plans allow for expanded restaurant seating capacity and the development of eight residential dwellings. Development can occur in phases, starting with the restaurant construction. Infrastructure installation, including roads, plumbing, and electrical systems, supports the residential lots. Newly designed plans are approved for 120 seats to meet the criteria for a new Florida Law, potentially allowing the obtaining of a 4COP-SFS license.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Island Cow Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Paper Fig Kitchen

    Location Insight

    • Map
    • Local Demand
    City
    Sanibel
    County
    Lee
    State
    Florida
    Longitude
    -82.071603
    Latitude
    26.436855

    Nearby Similar for Sale

    • $2,999,000
      1.16 Acres

      Sanibel Boutique Resort Opportunity

      Boutique resort on over an acre near Sanibel beaches.
      1220 Morningside Pl, Sanibel, FL 33957
      View Details
    • $1,725,000
      2,621 SF

      Stunning Gulf View Home

      Gorgeous home with Gulf and Clam Bayou views, turnkey ready.
      5423 Shearwater Dr, Sanibel, FL 33957
      View Details
    • $1,200,000

      Established Sanibel Restaurant and Retail

      Iconic Sanibel restaurant and retail business for sale.
      1551 Periwinkle Way, Sanibel, FL 33957
      View Details
    • $5,500,000
      3.00 Acres

      Prime Commercial Property on Periwinkle

      Commercial property with excellent exposure and road frontage on 3 acres.
      1551 Periwinkle Way, Sanibel, FL 33957
      View Details
    • $5,400,000
      0.84 Acres

      Sanibel Island Income-Producing Commercial Property

      Income-producing commercial property on Sanibel Island with high visibility.
      1039 Periwinkle Way, Sanibel, FL 33957
      View Details
    • $1,100,000
      0.04 Acres

      Refreshed Olde Florida-Style Office

      Distinctive office campus with flexible spaces on Sanibel's main artery.
      1149 Periwinkle Way, Sanibel, FL 33957
      View Details
    • $2,895,000
      2,358 SF

      Prime Sanibel Commercial Landmark

      Versatile property on Periwinkle Way with retail, residential, and income potential.
      1446 Periwinkle Way, Sanibel, FL 33957
      View Details
    • New
      $250,000
      987 SF

      Renovated Office Condo on Sanibel

      Completely renovated office condo in the heart of Sanibel Island.
      1640 Periwinkle Way, Sanibel, FL 33957
      View Details
    • $608,500
      1,636 SF

      Sanibel Duplex with Lake View

      Charming duplex on a lake, close to amenities and attractions.
      2162 Egret Cir, Sanibel, FL 33957
      View Details
    • New
      $1,575,000

      Sanibel Inn: Income-Generating Property

      Three-unit inn near Donax St beach, booking reservations since March 2024.
      610 Donax St, Sanibel, FL 33957
      View Details
    • $699,000
      1,260 SF

      Sanibel Duplex with River Views

      Half duplex with river views, pool, and recent upgrades.
      771 Rabbit Rd, Sanibel, FL 33957
      View Details
    • $1,200,000
      0.49 Acres

      Sanibel Island Commercial Property

      Commercial property on Sanibel Island with frontage on Periwinkle Way.
      1544 Periwinkle Way, Sanibel, FL 33957
      View Details

    FAQs

    What type of property is this?
    Restaurant - Approved development for restaurant and eight residential dwellings in Sanibel.
    Where is this restaurant located?
    The property is located at 2163 Periwinkle Way Sanibel, FL.
    What is the asking price?
    The asking price for this property is $4,750,000.
    What are key features of this property?
    This property features: - Approved for a mixed-use development: restaurant and eight residential units.; - Includes land, business rights, approved plans, and the Island Cow brand.; - **Prime location** on the island's main thoroughfare, next to the Community House and City Park, with **high visibility**.
    (239) 233-2976
    Request Owner's contact information
    2163 Periwinkle Way Sanibel, FL 33957
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2163 Periwinkle Way
    Sanibel, FL 33957
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2163 Periwinkle Way Sanibel, FL 33957
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dawn Marie Ramsey
    Real Estate License ID: 280597316
    (239) 233-2976
    Learn more
    Google sign-in failed. Please try again or use another login method.