Completely Renovated Office
For Sale
$225,000
Pending
3-1640 Periwinkle Way, Sanibel, FL 33957
Turnkey, fully renovated office condo with built-in workspaces, multiple offices, and in-unit amenities for professional use.
Property Size987 SF
Days on Market379
Property Features for 3-1640 Periwinkle Way
General Information
Standard status
Pending
Size
987 SF
Taxes and HOA fees
Annual Taxes
$3,605
Building Details
Year Renovated
2024
Listing Agency:
McCallion and McCallion
(239) 472-1950
Listed By:
Susan McCallion · License #280596767
(239) 233-1388
Source:
Exprealty
Added: Oct 3, 2025
Changed: Oct 14
Last Checked: Oct 15 at 1:39AM
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 McCallion and McCallion
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Investment Insights
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Completely renovated office condo space offers a flexible layout with built-in workspaces, multiple offices, and a dedicated waiting room. The interior includes luxury vinyl plank flooring and pristine white cabinetry, along with a separate receptionist and assistant space for organized day-to-day operations. For convenience, the unit features a restroom within the space, two sinks, and in-unit laundry with a washer and dryer, plus a full-sized refrigerator.
Located on Periwinkle Way in the heart of Sanibel Island, the suite is positioned for strong visibility and accessible parking. It sits just across from Bank of the Islands and near Jerry’s Grocery Store, supporting easy finding and convenient access for clients and customers.
This turnkey configuration is well suited for a variety of professional and service-oriented businesses, including medical or veterinary uses, pet grooming, or other office-based concepts that benefit from a reception area, private offices, and in-unit utilities. With the renovation completed in 2024, operators looking for a modern, move-in-ready environment may find the space particularly appealing.
Located on Periwinkle Way in the heart of Sanibel Island, the suite is positioned for strong visibility and accessible parking. It sits just across from Bank of the Islands and near Jerry’s Grocery Store, supporting easy finding and convenient access for clients and customers.
This turnkey configuration is well suited for a variety of professional and service-oriented businesses, including medical or veterinary uses, pet grooming, or other office-based concepts that benefit from a reception area, private offices, and in-unit utilities. With the renovation completed in 2024, operators looking for a modern, move-in-ready environment may find the space particularly appealing.
Key Highlights
- Completely renovated 987 SF flexible office condo on Sanibel Island (2024)
- Built‑in workspaces plus multiple offices and a waiting room area
- Separate receptionist and assistant space within the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,962
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,240
$339.2K
Cap Rate 7%
$242,314
$242.3K
Cap Rate 9%
$188,467
$188.5K
Market Conditions
NOI Build-Up for 987 SF
Gross rent
$24.6K $24.96/SF
− Vacancy
−$2.0K −$2.05/SF
EGI
$22.6K $22.91/SF
− OpEx
−$5.7K −$5.73/SF
NOI
$17.0K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,240
Cap Rate 7%
$242,314
Cap Rate 9%
$188,467
Alternative Uses
Best Use
Office B
$242.3K
$212.0K – $282.7K
NOI $16,962 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.7K
$271.8K – $362.4K
NOI $21,746 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
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Business Placement
Demographics for 33957, FL
6,382
Population
8,525
Households
0.7
Avg Household Size
68
Median Age
62%
College-Educated
99%
High-School Grad
16.2 sq mi
ZIP Area
394
Density / Sq Mi
$122,730
Median Household Income
$44,840
Median Earnings
$747
Median Rent
$912,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - Turnkey, fully renovated office condo with built-in workspaces, multiple offices, and in-unit amenities for professional use.
Where is this office units located?
The property is located at 3-1640 Periwinkle Way Sanibel, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Completely renovated 987 SF flexible office condo on Sanibel Island (2024); Built‑in workspaces plus multiple offices and a waiting room area; Separate receptionist and assistant space within the unit
