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$ 2,999,000
Est. payment | /mo
2.29 Acres Lot
$ 2,999,000
Est. payment | /mo
2.29 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225044961
HOA Y/N No
Originating Board Florida Gulf Coast
Year Built 1963
Annual Tax Amount $42,201
Tax Year 2024
Lot Size 2.292 Acres
Acres 2.292
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
Interior
Inclusions Other See Remarks
Fireplace No
Exterior
Waterfront Description None
Garage No
Building
Story 1
Level or Stories 1
New Construction No
Others
Senior Community No
Tax ID 19-46-23-T3-00014.0010
Listed by Premier Sotheby's Int'l Realty • Jeffrey Burns