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Offered at $1,499,000Active
beds
3
baths
4
sq ft
2,460
Built
1990

5438 Shearwater Drive

Sanibel, FL 33957

Upcoming open house

Fri, Oct 9 · 11:00 AM–2:00 PM

Arrive prepared. Get the October 2026 Sanibel Bean Group Buyer’s Guide before you tour.

About this home

Elevated Coastal Living at Shearwater | Sanibel Island Experience a rare offering on Sanibel Island — an expansive luxury residence that delivers the privacy and square footage of a single-family home with the ease and refinement of upscale condominium living. Located within close proximity to the prestigious golf and beach community of The Sanctuary, this exceptional Shearwater residence offers generous living spaces, high ceilings, and thoughtfully designed interiors ideal for those who desire room to entertain without the full-time demands of estate ownership. With few properties on Sanibel offering this combination of size, amenities, and low-maintenance convenience, Shearwater represents a truly unique market opportunity. Designed for the discerning buyer — whether transitioning from a larger Captiva estate, seeking proximity to championship golf, or simply wanting refined coastal living near the beach — this residence checks nearly every box. Golf enthusiasts will appreciate close access to The Sanctuary Golf Club’s private championship course, while beach lovers are moments from Sanibel’s world-renowned shoreline, shelling beaches, and Gulf sunsets. Spacious indoor-outdoor living areas allow for effortless entertaining, seasonal hosting, and relaxed island living. Within the gated Shearwater community, residents enjoy an elevated coastal lifestyle with access to pickleball and tennis courts, a kayak launch area, a fishing pier, and deeded beach access with convenient golf cart parking — thoughtfully designed to embrace the island’s outdoor, water-centric way of life. Shearwater appeals to: • Golfers wanting immediate access to premier fairways • Beachcombers who value privacy and proximity to the Gulf • Single-family homeowners ready to simplify without downsizing dramatically • Luxury condo owners looking for significantly more square footage • Captiva residents seeking a refined Sanibel alternative This is not just another property — it is a different product entirely. A rare intersection of space, amenities, prestige, and ease. Shearwater offers an unmatched lifestyle proposition on Sanibel Island.

Listing last checked: Listing updated:

Listed by Becky Mulka · Royal Shell Real Estate, Inc. · MLS #225060952

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Details at a glance

Interior4 property facts
Rooms
0
Heating
Central, Electric
Cooling
Central Air, Ceiling Fan(s), Electric
Flooring
Carpet, Tile
Building4 property facts
Style
Condominium
Year built
1990
Garage
2
Roof
Built-Up, Flat, Shingle
Land & utilities4 property facts
Lot size
0.071 acres
Water
Public
Sewer
Public Sewer
Waterfront
Y
Financial3 property facts
Annual taxes
$10,584
Assessment year
2024
HOA fee
$3,857 (billing period not supplied)

Location

Estimated monthly cost

Explore costs at the $1,499,000 asking price. Adjust the assumptions to your situation.

Known monthly costs$8,462 / monthAdjust
Principal & interest
$7,580
Property tax
$882
Insurance
Not entered
HOA
Not entered

Listing annual taxes: $10,584. Initial monthly tax is one twelfth of that amount. Listing HOA fee: $3,857. The billing period was not supplied; confirm the monthly amount before adding it.

Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.

The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.

Price and status timeline

  1. Sld

    $925,000 · Sold $800,000 · Oct 26, 2007

More property insights

Comparable properties 3 supplied

Sold Jul 22, 2026

$1,637,500

567 Audubon Boulevard #D-301

Sold Sep 28, 2026

$1,390,000

6850 San Marino Drive #110D

Sold Sep 1, 2026

$1,600,000

6001 Pelican Bay Boulevard #802

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About 5438 Shearwater Drive

Can I request a private showing?

Request a tour of 5438 Shearwater Drive and a Bean Group agent will help coordinate an available time with the listing side.

Can you help me evaluate this property?

Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.

Are property documents available?

Availability varies by property and source. Request the documents you need and we will help obtain what is available.