Ad #6141179
MLS #225044961
This bank-owned property presents an iconic Sanibel development
1223 Periwinkle Way, Sanibel, FL 33957
$2,999,000
--Beds
--Baths
--Sqft
2.29Acres
About this property
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.
Property Features
0 Beds
0 Baths
0 Sqft
Built in 1963
2.29 Acres
1 Story
$42,202 / yr property tax
Lee County
Additional Photos
Contact Information
Jeffrey Burns
Premier Sotheby's Int'l Realty
239-464-2984
Location
Listing Agent: Jeffrey Burns (License #: 280595636) 239-464-2984
Broker: Premier Sotheby's Int'l Realty 239-472-2735 Listing Site
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Premier Sotheby's Int'l Realty 239-472-2735 Listing Site
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 12, 2026
Photo Gallery
$2,999,000
--
Beds
--
Baths
--
Sqft
1223 Periwinkle Way, Sanibel, FL 33957
By contacting this agent you agree to these Terms and Conditions.
MLS# 225044961
This bank-owned property presents an iconic Sanibel development
$2,999,000
1223 Periwinkle Way, Sanibel, FL 33957
--
Beds
--
Baths
--
Sqft
2.29
Acres
$2,999,000
1223 Periwinkle Way, Sanibel, FL 33957
-- Beds
-- Baths
-- Sqft
2.29 Acres
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.
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Property Details
HOME DETAILS
0 Beds
0 Baths
0 Sqft
Built in 1963
2.29 Acres
1 Story
FINANCIAL & COMMUNITY
$42,202 / yr property tax
Lee County
Location
Mortgage Calculator
Ad Statistics
Ad Number
6141179
Viewed
216 times
Listing Status
Active
Added
May 06, 2025
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
Florida Gulf Coast Multiple Listing Service, Inc.
Source Property ID
225044961
Listing Agent: Jeffrey Burns (License #: 280595636) 239-464-2984
Broker: Premier Sotheby's Int'l Realty 239-472-2735 Listing Site
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Premier Sotheby's Int'l Realty 239-472-2735 Listing Site
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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