Photo of Beach

About Palm Island

 

Palm Island Information

History

Palm Island is a resort property in southwest Florida, purchased by the current owner (Dean Beckstead) in 1979. Palm Island, accessible only by ferry from the mainland, is 1.5 miles long and totals approximately 160 acres. The island itself is part of a seven-mile stretch of land comprised of three islands (Knight, Don Pedro, and Palm) located across Charlotte Harbor from Sanibel and Captiva islands, mid-way between Sarasota ad Fort Myers on the Gulf Coast. The current owner, Dean Beckstead, began investing in Florida real estate, beginning with the purchase of Useppa Island with his brother in 1971. Palm Island was purchased in 1979 by the Becksteads with their first property deal closing in 1983, opening the resort. Since that time, the Palm Island Resort has developed into 250 home sites, with an additional 100 left to build (40 lots sold, and an additional 60 condominiums to be built to complete the island property). Homes on the island range from one-bedroom condominiums in multi-unit buildings in the $200K range, to single family homes that sell in the millions of dollars.

The Business

The Palm Island Resort generates its revenue from the following six primary business areas:

  • Transportation: Operates barges from the mainland to the island, including associated parking areas.
  • Property Sales: Sales and private development of home sites and condominiums on the island to private owners.
  • Leasing Support: Approximately 90 of the 250 homes on the island’s resort property are available for short-term leases by vacationers. Palm Island provides a service to support the homeowners in marketing and administering the leases, as well as housekeeping services for during the lease time when the residents are not on the property.
  • Retail/Restaurants: Palm Island operates and maintains two restaurants with associated bars (Rum Bay and Johnny Leverock’s), a general store, and a snack bar.
  • Hospitality Services: The resort includes a fitness room, tennis courts, swimming pools, etc., on the island for the homeowners as well as the resort guests, who require full resort staffing in reservations, bell staff, and housekeeping.
  • Marina: Palm Island also include a full-service marina for island residents as well as the public.

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