1223 Periwinkle Way, Sanibel, FL 33957

Building Details

Year Built

1963

Listing office Premier Sotheby's Int'l Realty j***@premiersir.com Show Phone

Listing date Mar 11, 2026

Source Elliman

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Overview

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. The property is located on Sanibel Island and was formerly home to the Jacaranda Restaurant and Bar, and most recently the Tipsy Turtle. The developable land 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 in this scenario would vary depending on the footprint of the commercial structure. The property features a scenic central lake and frontage along the Sanibel River at the rear. It is located along Periwinkle Way, Sanibel’s main thoroughfare and commercial spine.

Suggested Use

Dental Office Auto Repair Shop Building Supply Spa & Massage Center HVAC Service Gym & Fitness Center Electrical Service Skin Care Clinic Furniture & Home Goods Grocery & Convenience Store

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

Location Insight

• Map
• Local Demand

City

Sanibel

County

Lee

State

Florida

Longitude

-82.0463

Latitude

26.4439

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FAQs

What type of property is this?

Commercial land - 2.5+ acres with 200 feet of frontage on Periwinkle Way.

Where is this commercial land 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.