1223 Periwinkle Way, Sanibel, FL 33957

Building Details

Year built

1963

Floors in Building

1

Listing agent Jeffrey Burns License #280595636 Show Phone

Listing office Premier Sotheby's Int'l Realty 2341 Palm Ridge Road, Sanibel, FL Show Phone

Listing date May 6, 2025

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MLS# 225044961

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.

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Overview

This bank-owned offering at 1223 Periwinkle Way in Sanibel presents a waterfront commercial land parcel with historic restaurant use. The property includes 200 feet of frontage along Periwinkle Way and approximately 2.292 acres of land. Site amenities noted in the remarks include a scenic central lake and frontage along the Sanibel River at the rear.

The parcel is described as zoned General Commercial and D2 Upland Wetland, with frontage positioned along Sanibel’s main commercial thoroughfare, Periwinkle Way. The remarks also indicate the site supports development flexibility, with initial assessments suggesting the potential to construct 8–9 residential units. The zoning is further described as accommodating mixed-use development, where residential living could be combined with a commercial component, with the final residential count dependent on the commercial footprint.

For developers, this site offers an opportunity to plan a hospitality, residential, or mixed-use concept on a location with both street frontage and rear waterfront features. The property’s documented history as the former Jacaranda Restaurant and Bar and most recently the Tipsy Turtle may also be relevant for buyers evaluating redevelopment on an established commercial footprint.

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Gym & Fitness Center Hotel & Motel Department Store

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

Similar Places Nearby

• Catering By Leslie Adams. Sanibel/Captiva Catering — Sanibel, FL 33957

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?

Restaurant - Commercial land with substantial frontage and waterfront features, zoned for General Commercial and D2 Upland Wetland.

Where is this restaurant 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.