Corner Office
1640 Periwinkle Way Unit 5, Sanibel, FL 33957
Updated corner office condo with reception, three private offices, and on-site parking in a renovated five-unit plaza.
Type:Office
Property size:
1,200 SFPrice / SF:
$307/SF- Added:
- Jun 14, 2026
- Days on Market:
- 16
- Last Refresh:
- Jun 24 at 5:22 am
Property Features for 1640 Periwinkle Way Unit 5
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Office
Building Details
- Year Built
- 1978
Listing office Premier Sotheby's Int'l Realty (239) 464-2984
Listing date Jun 14, 2026
Source Xome
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Premier Sotheby's Int'l Realty
HighLights
- Professionally updated corner office condominium with approx. 1,200 SF of air‑conditioned office space
- Located in a renovated five‑unit plaza with a new shingle roof and firewalls between each condominium
- Layout includes a reception area, three private offices, and a private half bath
- Corner unit at the end of the plaza with extra windows for abundant natural light and convenient on‑site parking
- Month‑to‑month tenant reported as willing to execute a lease renewal; condominium fees are $750/month
- $750/month condo fees include building insurance, water, sewer, trash service, and pest control
Overview
This professionally updated office condominium is located on a corner within a five-unit, partially elevated building. The plaza has been recently renovated with a new shingle roof and firewalls between each office condominium. Unit 5 includes a reception area, three private offices, and a private half bath, creating a practical layout for a range of professional and service-oriented businesses, including medical-adjacent operations.
Positioned at the end of the plaza, the corner location is designed to offer additional privacy and abundant natural light through extra windows. Convenient customer and staff parking is available for day-to-day access. The property sits steps from Jerry’s Foods and is described as a highly visible mid-island commercial district, supported by a history of a diverse mix of businesses.
For tenants and buyers seeking an established professional environment, the configuration supports multiple functions while maintaining distinct offices. The current tenant is on a month-to-month lease, and the tenant has expressed willingness to execute a lease renewal. Monthly condominium fees of $750 include building insurance, water, sewer, trash service, and pest control, which can simplify ownership and ongoing operating expense planning.
Positioned at the end of the plaza, the corner location is designed to offer additional privacy and abundant natural light through extra windows. Convenient customer and staff parking is available for day-to-day access. The property sits steps from Jerry’s Foods and is described as a highly visible mid-island commercial district, supported by a history of a diverse mix of businesses.
For tenants and buyers seeking an established professional environment, the configuration supports multiple functions while maintaining distinct offices. The current tenant is on a month-to-month lease, and the tenant has expressed willingness to execute a lease renewal. Monthly condominium fees of $750 include building insurance, water, sewer, trash service, and pest control, which can simplify ownership and ongoing operating expense planning.
Local 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 | $30.0k | $24.96 |
| − Vacancy | −$2.5k | −$2.05 |
| EGI | $27.5k | $22.91 |
| − OpEx | −$6.9k | −$5.73 |
| NOI | $20.6k | $17.18 |
1,200 SF · lease $24.96/SF/yr · vacancy 8.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$294.6K
$257.8K – $343.7K
NOI $20,622 @ 7.0% cap · market cap 5.59%
Second Best
Healthcare Medical
$214.6K
$187.8K – $250.4K
NOI $15,021 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$377.7K
$330.5K – $440.6K
NOI $26,438 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Beachside Animal Clinic ...
Veterinary Clinic
Milissa Sprecher Realtor
Real Estate Agency
Island Sun Newspaper
Publishing House
Gregory Walsh
Alternative Medicine Practice
McCallion & McCallion Realty ...
Real Estate Agency
Location Insight
- Map
- Local Demand
- City
- Sanibel
- County
- Lee
- State
- Florida
- Longitude
- -82.0579864
- Latitude
- 26.4429053
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Updated corner office condo with reception, three private offices, and on-site parking in a renovated five-unit plaza.
Where is this office units located?
The property is located at 1640 Periwinkle Way Unit 5 Sanibel, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Professionally updated corner office condominium with approx. 1,200 SF of air‑conditioned office space; Located in a renovated five‑unit plaza with a new shingle roof and firewalls between each condominium; Layout includes a reception area, three private offices, and a private half bath
