This stunning once in a generation bayfront property is on Sanibel's east end very near the historic lighthouse and lighthouse beach and at the end of the quaint and private Buttonwood Lane. This extremely unique estate offers approximately 1.3 acres of land, 150 feet of bay frontage offering a beautiful beach, and a private boat dock extending out into the sparkling bay waters. The uniqueness doesn't only pertain to the parcel's size and location, per the City of Sanibel Planning Department, the property is allocated 3 dwelling units per Development Permit 88-7456. Minimum lot size is 15,000 sf in the D2 €“ Upland Wetlands ecological zone. The property is large enough to achieve minimum lot size for three single-family parcels. The options for this parcel are as incredible as the bay views the properties would enjoy. This is a very rarely seen opportunity to develop a bayfront compound or small community. The current structures were remediated and include a main home, guest house, pool and storage area. Opportunities like this haven't been seen in decades and will likely not be seen again. This is an opportunity to bring back something truly special along the bay on Sanibel Island.