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Property profile & analytics
OFF-MARKET
Estimated value
$2,040,000
Retail space
2422 Periwinkle Way Sanibel, FL 33957-3207
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-4177451
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,954 SF
Lot
0.69 ac (30,154 SF)
Zoning code
TCL
APN
26-46-22-T2-00004.0110
UPID
US18-4177451
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
F.I.S.H. of Sanibel-Captiva, Inc. Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$2.04M
Owner & transaction history
Sanibel Captiva INC · 2 yrs held
Sanibel Captiva INC
since 2023
Last sale
$1.9M
4 recorded transactions
Zoning & alternative use
TCL · Sanibel, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the TCL town center limited commercial district, like the TCG town center general commercial district, is also to provide for commercial and mixed-use development in the geographical center of the city. Because of this area relatively good access from Periwinkle Way, Palm Ridge Road and Tarpon Bay Road, and proximity to civic, cultural and gov…
Zone name
Town Center Limited
General category
MIXED_USE
Zone area
24.38 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.1M
+124.4%
Commercial (general)
$1.8M
+97.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sanibel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sanibel submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,115,000
ML approach
$2,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,085,000
Change: +124% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,835,000
Change: +98% · Conversion: Easy
Blend value · Realmo final
$2.04M
Range $1.84M – $2.24M · ±10% · vs last sale $1.95M (Aug 14 2023)
Last sale anchor
$1.95M
Aug 14 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$691 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,377
Tax year 2023
Assessed value
$1,277,248
Assessed 2023
Previous assessed
$950,152
+34.4% YoY
Effective rate
1.28%
On assessed value
Assessed land
$883,552
Assessed improvement
$393,696
Land market value
$883,552
Improvement market value
$393,696
Total market value
$1,277,248
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
2,954 SF
Lot
0.69 ac (30,154 SF)
Zoning code
TCL
APN
26-46-22-T2-00004.0110
UPID
US18-4177451
Jurisdiction
LEE
Zoning & alternative use
TCL · Sanibel, FLZoning TCL · permitted uses
TCL · Sanibel, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the TCL town center limited commercial district, like the TCG town center general commercial district, is also to provide for commercial and mixed-use development in the geographical center of the city. Because of this area relatively good access from Periwinkle Way, Palm Ridge Road and Tarpon Bay Road, and proximity to civic, cultural and governmental uses, the TCL town center limited district is a preferred location for retail development and therefore higher floor area ratios are permitted. The TCL town center limited commercial district is designed to provide an opportunity for a variety and mixture of retail, office, and service uses which support the establishment and retention of island and resident serving commercial uses and discourage commercial uses that cater principally to the day visitor to the city.
Zone name
Town Center Limited
General category
MIXED_USE
Zone area
24.38 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Sanibel Captiva INC
Entity
Free & Clear · 2 yrs held
Mailing address
2430 PERIWINKLE WAY, SANIBEL, FL 33957-3207
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2023
$1,948,000
Sanibel Captiva INC
2422 Periwinkle Way LLC
Warranty Deed
—
Apr 22, 2021
—
2422 Periwinkle LLC
Genes Books LLC
Warranty Deed
—
Sep 6, 2017
$900,000
Genes Books LLC
Joffe,anne G
Warranty Deed
—
—
—
Joffe Trust
—
Deed Of Trust
related
$319,110 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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