2407 Periwinkle Way - Storefront FOR SALE


Sanibel, FL 33957- Middle Gulf Drive | 
$5,200,000 USD
239-292-3031
2407 Periwinkle Way, Sanibel, FL for Sale
$5,200,000 USD
Storefront - FOR SALE
1/19
null | Request Cap Rate

2407 Periwinkle Way
Sanibel, FL 33957
Middle Gulf Drive


HIGHLIGHTS

  • Great Location!
  • Newly Renovated
  • 58 Parking Spaces
  • Owner/User or Investment
  • 3 Restaurants and 1 Bike Rental Shop

OVERVIEW

Rare opportunity to acquire a well-positioned commercial investment along Periwinkle Way on Sanibel Island. The property offers existing income with a compelling value-add story driven by future lease rollover, rent growth and continued recovery of the Sanibel commercial market. The tenant mix includes three restaurant spaces together with complementary retail/bike and medical-office uses, creating diversified income within one of Sanibel’s primary commercial corridors. The restaurant spaces represent a particularly attractive long-term opportunity, with ownership targeting future base rents in the approximately $35–$40+ PSF range as leases roll and market conditions support repositioning. Current CAM/NNN is approximately $10.00 PSF. The investment thesis is straightforward: acquire an established Sanibel commercial asset with income in place today while retaining meaningful potential to increase NOI through future rental growth. Sanibel's limited commercial inventory, barriers to new development and destination-market characteristics make existing commercial properties difficult to replicate. An excellent opportunity for an investor seeking a combination of current income, future NOI expansion and long-term ownership of commercial real estate on Sanibel Island. Nick Paulus | Founder/Broker | Invest Florida, LLC | 239-292-3031

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$665 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Islander Center on Sanibel Island

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,806 SF

ZONING

TCG

APN/PARCEL ID

26-46-22-T2-00004.0070

ASK ABOUT THIS PROPERTY

Nicholas PaulusInvest Florida, LLCMore Info
239-292-3031

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Nicholas PaulusInvest Florida, LLCMore Info
239-292-3031

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.