1223 Periwinkle Way, Sanibel, FL 33957

LSI Companies Inc. and the Burns Family Team of Premier Sotheby's International Realty is pleased to present a rare and highly sought-after commercial development opportunity in the heart of Sanibel Island.

This landmark property—formerly home to the beloved Jacaranda Restaurant and Bar, and more recently the Tipsy Turtle—is steeped in island history and poised for future potential.

Boasting an expansive 200 feet of frontage on Periwinkle Way, Sanibel’s primary commercial corridor, the site spans roughly 2.29 acres of developable land, zoned General Commercial and D2 Upland Wetland. With this prime zoning and generous land area, preliminary estimates suggest the property can support 8 to 9 residential units, making it ideal for a boutique residential development or luxury villas.

Alternatively, the zoning allows for a flexible mixed-use configuration, combining both residential living and commercial space, perfect for retail, dining, or hospitality ventures that complement island living. The number of residential units in this scenario would be determined by the scale and footprint of the commercial element. With its rich legacy, unmatched visibility, and zoning versatility, this is an extraordinary opportunity to create a destination that serves both the community and its visitors for generations to come.

Don’t miss the chance to shape the next chapter of this iconic Sanibel address.