1. Florida
  2. Sanibel
  3. 1223 Periwinkle WAY
$2,999,000

1223 Periwinkle WAY, Sanibel, FL 33957

  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1963
  • Property Lot Size Icon2.29acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 2 months ago

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.

Listing Status:
Active
Date Added:
May 6, 2025 at 05:00AM
Listing Office:
Premier Sotheby's Int'l Realty : 239-472-2735
Listing Agent:
Jeffrey Burns : 239-464-2984
MLS ID:
225044961
  • General: 1

This listing courtesy of Jeffrey Burns, Premier Sotheby's Int'l Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

T

The Sanibel School

3840 Sanibel Captiva Rd, Sanibel, FL, 33957

Grades KG-8

4.33 miles away

T

The Sanibel School

3840 Sanibel Captiva Rd, Sanibel, FL, 33957

Grades KG-8

4.33 miles away

O

Oasis Charter High School

3519 Oasis Blvd, Cape Coral, FL, 33914

Grades 9-12

10.01 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.