$150K+ in potential gross rental income! Discover one of Sanibel’s most unique mixed-use opportunities, a rare property that seamlessly combines residential living with a fully functional commercial space. Zoned TCL, this versatile setting is ideal for entrepreneurs, artists, boutique retail, a private gym or wellness studio with curated membership, or anyone seeking a flexible live-work lifestyle in the heart of the island. The craftsmanship is exceptional, featuring beautiful millwork, impact windows and doors, Hardie board siding, and Brazilian hardwood and composite decking for lasting durability and timeless appeal. Inside, four levels of thoughtfully designed living space offer excellent flow, vaulted ceilings, rich wood flooring, and abundant natural light throughout. The chef-inspired kitchen showcases Sub-Zero and Wolf appliances with beautifully designed, highly functional cabinetry. The fourth-floor VIP suite is truly remarkable, while the rooftop sun deck captures bay breezes and water glimpses. Outdoor living continues with a 40-foot heated saltwater pool and high-efficiency propane spa for year-round enjoyment. The approximately 500-square-foot commercial space features hardwood floors, expansive windows, a half bath, and handicap-accessible ramp — perfect for a boutique, studio, office, or customer-facing business. Beyond the commercial use, the residential component offers strong income potential, creating multiple revenue streams within one property. This is a great rental income investment and or 1031 Exchange property! All of this is set in a highly walkable location just steps from restaurants, shops, banks, the post office, beaches, bike paths, kayaking, and daily conveniences — a rare opportunity blending lifestyle, flexibility, quality, and compelling investment value in one of Sanibel’s most desirable locations.
For sale
Price cut: $55K (2/20)
$1,595,000
2480 Library Way, Sanibel, FL 33957
3beds
1,972sqft
Est.:
Single Family Residence
Built in 1989
10,454.4 Square Feet Lot
$-- Zestimate®
$809/sqft
$-- HOA
What's special
Excellent flowHardie board sidingVaulted ceilingsChef-inspired kitchenFourth-floor vip suiteAbundant natural light throughoutRich wood flooring
- 116 days |
- 327 |
- 7 |
Zillow last checked: 7 hours ago
Listing updated: March 13, 2026 at 01:00am
Listed by:
Mike H McMurray 239-850-7888,
Royal Shell Real Estate, Inc.
Source: Sanibel And Captiva Island AOR,MLS#: 2251204
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Rooms
- Room types: Kitchen, Living Room, Workshop, See Remarks
Primary bedroom
- Features: Balcony, Sitting Area
Primary bathroom
- Features: Dbl Sinks, Double Vanity, Sep. Shower, Sep. Tub, See Remarks
Heating
- Central, Heat Pump
Cooling
- Ceiling Fan(s), Central Air, See Remarks
Appliances
- Included: Cooktop, Disposal, Dryer, Internet Ready, Microwave, Refrigerator, Washer, Water Heater, See Remarks
Features
- Eat-in Kitchen, Pantry, Storage, High Ceilings, Vaulted Ceiling(s), Elevator
- Flooring: Wood, See Remarks
- Doors: French Doors, Impact Resistant Doors, Wind Rated Garage Door
- Windows: Impact Resistant Windows, Jalousie, Sliding, Storm Window(s)
- Has fireplace: No
Interior area
- Total structure area: 3,181
- Total interior livable area: 1,972 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage Door Opener, Double Garage, See Remarks
- Garage spaces: 2
Accessibility
- Accessibility features: Handicap Accessible, Accessible Entrance
Features
- Patio & porch: Open Porch, Patio
- Exterior features: Awning(s), Balcony
- Pool features: In Ground, Equipment Stays, Fenced, Gas Heat
- Spa features: Heated, Spa
- Has view: Yes
- View description: Bay, Lawn/Garden, See Remarks
- Has water view: Yes
- Water view: Bay
- Waterfront features: None/Not Applicable
- Frontage length: 84
Lot
- Size: 10,454.4 Square Feet
- Features: See Remarks, Inland
Details
- Parcel number: 264622T20030C0050
Construction
Type & style
- Home type: SingleFamily
- Architectural style: See Remarks
- Property subtype: Single Family Residence
Materials
- Frame, See Remarks, Hard-l-Board, Stucco
- Foundation: Raised, Piling Wood
- Roof: Metal
Condition
- Year built: 1989
Utilities & green energy
- Sewer: Private Sewer, See Remarks
- Water: Public
Community & HOA
Community
- Subdivision: Palm Ridge
HOA
- Has HOA: No
Location
- Region: Sanibel
Financial & listing details
- Price per square foot: $809/sqft
- Tax assessed value: $594,780
- Annual tax amount: $7,837
- Date on market: 12/5/2025
- Cumulative days on market: 117 days
- Listing terms: BTF/Cash
- Lease term: Month To Month
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 2/20/2026 | Price change | $1,595,000-3.3%$809/sqft |
Source:  Sanibel And Captiva Island AOR #2251204 Report a problem | ||
| 1/29/2026 | Price change | $1,650,000-5.7%$837/sqft |
Source:  Florida Gulf Coast MLS #2025019853 Report a problem | ||
| 12/4/2025 | Listed for sale | $1,750,000+141.4%$887/sqft |
Source: Florida Gulf Coast MLS #2025019853 Report a problem | ||
| 6/25/2021 | Sold | $725,000-12.5%$368/sqft |
Source: Florida Gulf Coast MLS #221017651 Report a problem | ||
| 4/26/2021 | Contingent | $829,000$420/sqft |
Source:  Sanibel And Captiva Island AOR #2210231 Report a problem | ||
| 4/26/2021 | Pending sale | $829,000$420/sqft |
Source:  Florida Gulf Coast MLS #221017651 Report a problem | ||
| 3/10/2021 | Listed for sale | $829,000+38.2%$420/sqft |
Source: Sanibel And Captiva Island AOR #2210231 Report a problem | ||
| 12/10/2020 | Sold | $600,000-7.6%$304/sqft |
Source: Public Record Report a problem | ||
| 10/26/2020 | Pending sale | $649,000$329/sqft |
Source: Pfeifer Realty Group LLC #220020277 Report a problem | ||
| 3/18/2020 | Listed for sale | $649,000-16.7%$329/sqft |
Source: Pfeifer Realty Group LLC #220020277 Report a problem | ||
| 6/10/2019 | Listing removed | $779,000$395/sqft |
Source: Royal Shell Real Estate Inc #218081969 Report a problem | ||
| 3/1/2019 | Price change | $779,000-6.9%$395/sqft |
Source: Royal Shell Real Estate Inc #218081969 Report a problem | ||
| 12/17/2018 | Listed for sale | $837,000$424/sqft |
Source: Royal Shell Real Estate Inc #218081969 Report a problem | ||
| 11/1/2018 | Listing removed | $837,000$424/sqft |
Source: VIP Realty Group,Inc #218045020 Report a problem | ||
| 9/26/2018 | Price change | $837,000-4.3%$424/sqft |
Source: VIP Realty Group,Inc #218045020 Report a problem | ||
| 5/30/2018 | Price change | $875,000-2.7%$444/sqft |
Source: VIP Realty Group,Inc #218001203 Report a problem | ||
| 2/16/2018 | Price change | $899,000-9.6%$456/sqft |
Source: VIP Realty Group,Inc #218001203 Report a problem | ||
| 1/4/2018 | Listed for sale | $995,000+93.2%$505/sqft |
Source: VIP Realty Group,Inc #218001203 Report a problem | ||
| 5/2/2008 | Sold | $515,000$261/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,869 +0.4% | $594,780 +31.9% |
| 2024 | $7,837 +31.3% | $451,082 |
| 2023 | $5,967 -35.8% | $451,082 -36.6% |
| 2022 | $9,298 +31.5% | $711,296 +44.1% |
| 2021 | $7,073 +112.2% | $493,517 +91.7% |
| 2020 | $3,332 +2.9% | $257,379 -15.3% |
| 2019 | $3,240 | $303,992 +18.6% |
| 2018 | $3,240 0% | $256,274 +1.3% |
| 2017 | $3,241 -0.1% | $252,969 +9.2% |
| 2016 | $3,244 +4.5% | $231,586 -0.5% |
| 2015 | $3,104 -2.8% | $232,635 -0.4% |
| 2014 | $3,193 | $233,684 +21.9% |
| 2000 | -- | $191,780 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$10,137/mo
Principal & interest
$8276
Property taxes
$1861
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Climate risks
Neighborhood: 33957
Nearby schools
GreatSchools rating
- 9/10The Sanibel SchoolGrades: PK-8Distance: 2.3 mi
- 5/10Cypress Lake High SchoolGrades: 9-12Distance: 13.1 mi
- 2/10South Fort Myers High SchoolGrades: 9-12Distance: 15.9 mi
Local experts in 33957
- Florida
- Lee County
- Sanibel
- 33957
- 2480 Library Way
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