Sanibel Island's real estate market made headlines after a property on the famous island was listed with an asking selling price of $16.9 million. That asking price made the said property one of the highest-selling property ever recorded on the whole island. But what caused the price for this real estate to skyrocket to such an amount?
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Biggest Real Estate for Sale
According to News-Press.com, the said real estate for sale was owned by A.J. Scribante and his wife Sunny. Scribante is the main founder of Majers Corp., which is one of the biggest full-service marketing-information companies that cater to many huge other corporations such as General Foods, Coca-Cola, Procter & Gamble, Pepsi, General Mills, and other major corporations that are selling many kinds of supermarket products.
Scribante's successful creation of Majers Corp. is one of the known successful entrepreneurship stories in the corporate world. It was so successful that he was able to turn his success story into a successful book about itself, titled "Shelf Life" which is an autobiography of the said story.
He started his whole career by selling simple bleach products and by that time he thought of how to sell it better. He then created a booklet that is a compilation of various store ads from various groceries and supermarkets he knew. After creating the booklet, he showed his idea to the same groceries and supermarkets, in which they are in need of such an idea and struck a deal with him to provide such service. And from there on, he became successful in making his concept idea a successful business.
Now going back to the said property itself, below are some of the publicly available details:
- Address: 6111 Sanibel Captiva Road
- Size: 10,000 square foot
- Bedroom: 5
- Bathrooms: 7
The said property has been named by the couple as "Mandalay", stating that their stay for the past 10 years, mentioning that it became Scribante's "playground". However, they are now ready to move into a new Mandalay West, their new property located in Colorado. Mandalay West will be host to various ranch animals that they want to raise, such as horses, cows, goats, pigs, and miniature donkeys.
Is Sanibel Island a Good Place To Live In?
Even though there are many expensive real estates for sale in the said location, is living in Sanibel Island all that worth it? According to Niche, the location of Sanibel Island (and the rest of Sanibel Town) is the best place to live in Florida. Sanibel is located in Lee County and it provides an urban/suburban mix lifestyle. The location itself has lots of commercial establishments that they will most likely need during their stay in the location.
The average median home value in the location is around $720,500, with the average median rent being around $1,443 monthly. As per the ratio of people renting versus owning a property in Sanibel, 15% are currently renting properties in the location. While the remaining 85% are owned properties in Sanibel.
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