Sunshine Suites should be comparable to CS, Neither is on the water but it's a short walk.
Not on SMB there's the B&B in West Bay. I think it's called Shangri-La
I stayed at the condo side of Paradise Point when it was Treasure Island. They share the pool etc.Kind of an odd area of south SMB there's only one restaurant within walking distance and a liquor store. We did find a small bakery/sandwich shop in the strip mall to the south but IDK if it's still there. We thought we could do w/o a car there but after a few expensive cab rides we called Andy's - they'll pick you up.
Lousy part of SMB but 100 yds south there's a nice area fronted by a couple condo complexes.
I am not sure what you mean by "Paradise Point when it was Treasure Island"? Paradise Point is north of 7MB and Margaritaville (Treasure Island) is south of 7MB.