1223 Periwinkle WAY, Sanibel, FL 33957
1223 Periwinkle WAY, Sanibel, FL 33957
1223 Periwinkle WAY, Sanibel, FL 33957
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Monica Cataluña, CCIM, ALC

Monica Cataluña, CCIM, ALC

+1(954) 812-1831
$2,999,000
Est. payment /mo
2.29 Acres Lot
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Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID 225044961

HOA Y/N No

Year Built 1963

Annual Tax Amount $42,201

Tax Year 2024

Lot Size 2.292 Acres

Acres 2.292

Property Sub-Type Retail

Property Description

This bank-owned property presents an iconic Sanibel development opportunity offering 200 feet of frontage on Periwinkle Way, 2.5-plus acres of land and waterfront features. Presenting a once-in-a-generation opportunity to acquire one of Sanibel Island's most storied and strategically located commercial parcels. Formerly home to the iconic Jacaranda Restaurant and Bar, a beloved institution that served generations of islanders and visitors, and most recently the Tipsy Turtle, this legacy property is ready for its next chapter. Ideally along 200 feet of frontage on Periwinkle Way, Sanibel's main thoroughfare and commercial spine, the property spans over 2.5 acres of developable land zoned General Commercial and D2 Upland Wetland. This premier site offers exceptional development flexibility, with initial assessments suggesting the potential to construct 8-9 residential units. Alternatively, zoning allows for a mixed-use development, combining residential living with a commercial component. The final residential count in this scenario would vary depending on footprint of the commercial structure, allowing for a custom-tailored approach to suit investor or developer goals. Adding to its appeal, the property features a scenic central lake and frontage along the tranquil Sanibel River at the rear—rare natural amenities that enhance its desirability for residential or hospitality development. Whether reimagined as an upscale enclave, a vibrant mixed-use destination or a new community hub, this property represents a unique and irreplaceable opportunity in the heart of Sanibel Island. Iconic history. Prime location. Boundless potential.

Location

State FL

County Lee

Area Si01 - Sanibel Island

Interior

Furnishings Furnished

Fireplace No

Exterior

Waterfront Description None

Garage No

Building

Story 1

Others

Senior Community No

Tax ID 19-46-23-T3-00014.0010

Virtual Tour https://www.propertypanorama.com/instaview/fgcmls/225044961

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Listed by Premier Sotheby's Int'l Realty • Jeffrey Burns

Nearby Locations

Monica Cataluña, CCIM, ALC

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL 33331

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1223 Periwinkle WAY