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Sanibel 33957 Middle Gulf Drive
1142 Shell Basket Lane
Photo of 1142 Shell Basket Lane
Sold on Sep 25, 2026

42

Map

Photo of 1142 Shell Basket Lane
Photo of 1142 Shell Basket Lane
$548,000
● House - Off Market

1142 Shell Basket Lane

Sanibel, FL 33957
bedrooms
3 Beds
bathrooms
2 Baths
square feet
950 Ft²
$3,422
Est. Monthly
4.44%
Cap Rate

About This Property

A prime location with high land value on Sanibel's famed east end of the island within a stones throw to the seashell laden white sandy shoreline. A step back in time, this quintessential beach cottage exudes charm and comfort along with modern amenities. The setting of the cottage would be a wonderful seasonal rental, if desired and/or redevelop the property with your own vision. Plans have been designed for new construction with an amazing home that maximizes sqftg and integrity. Inquire for more information on redevelopment. This offering is for the existing cottage and detached garage as is.
Unit Size
950 Ft²
Days on Market
382 days
Land Size
0.26 acres
Price per sqft
$626
Property Type
House
Property Taxes
$500
HOA Dues
-
Year Built
1953

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 24 days ago ( #2025006442)

Price History

Date / Event Date Event Price
Sep 25, 2026 Sold
Premium
Sold
Sep 16, 2026 In contract -
In contract
Jul 29, 2026 Withdrawn -
Withdrawn
May 12, 2026 Price Decreased $595,000
↓ $53K (8.2%)
Price Decreased
Jan 17, 2026 Price Decreased $648,000
↓ $77K (10.6%)
Price Decreased
Show More

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1953
  • Effective Year Built: 1984
  • Building Count: 1
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 24
  • Exterior Walls Type: 1
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 4
  • Garage Square Area: 428
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 35
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,238
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 1,100
  • Total Building Area: 1,728
  • Gross Building Area: 1,728
  • Building Area: 1,099
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 5
  • Heating: 4
  • Heated Square Feet: 1,099
  • Heating Fuel Type: 2

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: SANIBEL SHORES
  • Land Acres: 0000000258
  • Standard Land Use Code: 1001
  • County Land Use Code: 01
  • State Land Use Code: 001
  • Legal Description 1: LOT PT 1 FROM SELY COR LOT 1 BLK 8 SANIBEL SHORES #1

Neighborhood

  • School District Name: Lee County School District
  • Census Tract: 080202

Geography

  • Assessors Map Reference: 13-30
  • Account Number: 10128213
  • Subdivision Tract Number: T2
  • Parcel: 30-46-23-T2-00023.0000
  • Block: 8
  • Lot: 1
  • Meridian: SEC 30 TWN 46S RNG 23E
  • Municipality: CITY OF SANIBEL
  • Latitude: 26.4379
  • Longitude: -82.0435

    Address

  • Full Address: 1142 Shell Basket Ln
  • Address - House Number: 1142
  • Address - Street Name: Shell Basket
  • Address - Suffix Type: Ln
  • State: FL
  • City Name: Sanibel
  • Carrier Code: R007
  • 4-Digit Zip Code: 6818
  • Zip Code: 33957

Valuation

    Tax

  • Total Area: 1,218
  • Tax Year: 2023
  • Tax Amount: $695,868
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.0816
  • Valuation Date: Jan 31, 2024
  • Confidence Score: 93
  • Final Value: 678,983
  • High Value: 734,407
  • Low Value: 623,559

    Market Valuation

  • Market Total Value: $467,219
  • Market Land Value: $467,209
  • Market Improvement Value: $10

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $449,374

    Sales

  • Current Sale Contract Date: Nov 27, 2023
  • Current Sale Recording Date: Dec 06, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 382977
  • Previous Sale Recording Date: Dec 29, 2020
  • Previous Sale Contract Date: Dec 14, 2020
  • Previous Sale Amount: $560,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Middle Gulf Drive

Stats & Trends

Median Asking:

$935,000

Sale Price/ft²

$600

Below Asking

0.04%

Average Days on Market

139

Average Home Size

1529 ft²

Average Home Age

45.6 years

Currently For Sale

71 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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Frequently Asked Questions

When was property at 1142 Shell Basket Lane built and last sold?
The property at 1142 Shell Basket Lane was built in 1953 and last sold on Nov 27, 2023 for $550,000.
How much is this home worth?
The estimated value of the home located at 1142 Shell Basket Lane is $601,878.
What are some comparable homes to 1142 Shell Basket Lane?
There are currently no comparable homes to 1142 Shell Basket Lane.
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