# 1223 Periwinkle Way, Sanibel, FL 33957

> **TL;DR:** commercial, $2,999,000, built 1963. Est. $12,996/mo. Listed 391 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $2,999,000 |
| Year Built | 1963 |
| Lot Size | 99,840 sqft (2.29 acres) |
| Stories | 1 |
| Property Type | Commercial (Retail) |
| Status | For Sale |
| Days on Market | 391 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $12,996 |
| **Total** | **$12,996** |

## Property Highlights

- Built in 1963
- 2.29 acre lot

## Description

### Agent 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

- **Address:** 1223 Periwinkle Way, Sanibel, FL 33957
- **County:** Lee
- **Coordinates:** 26.443912, -82.046308
- **Google Maps:** https://www.google.com/maps?q=26.443912,-82.046308

## Listing Agent

- **Name:** Jeffrey Burns
- **Brokerage:** Premier Sotheby's Int'l Realty
- **Phone:** 2394642984
- **Email:** jeff.burns@premiersir.com

## Primary Photo

![1223 Periwinkle Way - Primary Photo](http://lh.rdcpix.com/66805e352bb8786e2d568e53b4817138l-f2496819717r.jpg)

*14 total photos available on [listing page](https://www.propertysimple.com/listing/1223-periwinkle-way-sanibel-fl-33957-25044961)*

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**MLS#:** 225044961 | **Updated:** 2026-06-18
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.com/listing/1223-periwinkle-way-sanibel-fl-33957-25044961)

---

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