Waterfront Commercial Land
1223 Periwinkle Way Sanibel, FL 33957
For Sale
$2,999,000
SINGLE_FAMILY - Sanibel, FL
Lot Size2.29 Acres
Days on Market451
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
Taxes and HOA fees
Tax Year
2024
Tax Description
PAR DESC IN OR 1071 PG 103
Tax Annual Amount
42202
Building Details
Year built
1963
Floors in Building
1
Listing Agency:
Premier Sotheby's Int'l Realty
(239) 472-2735
Listed By:
Jeffrey Burns · License #280595636
(239) 464-2984
Added: May 6, 2025
Changed: Jun 13
Last Checked: Jul 30 at 8:06AM
MLS# 225044961
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Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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.
