That's a lot more reasonable, but that still doesn't exactly fit into the Mediterranean without making a continental bridge to Africa. Maybe as the Azores or Canary islands if they used to be higher.
One fanciful chain of hypothetical events is the Younger Dryas Impact leading to both higher sea levels and the subsidence of the Azores. That series of events is, a comet impacted the North American glacial ice sheet and melted immense amounts of ice. Simultaneously this removed immense amounts of weight from the continent. The removal of weight causes the land to rise where the weight was removed. This rise must be compensated by some other part of the globe. This would be areas that were being pushed out by the weight on North America. There is a rift below the Azores, a weak spot in the crust, that would be squeezed out. As the weight is near instantly removed from North America the rift areas sink rapidly to compensate.
A maritime civilization on the level of the Phoenicians, on an island the size of Turkey, in the middle of the Atlantic would be in an ideal position for trans-Atlantic trade that is even easier than trans-Atlantic trade in our age of sail. If such a civilization existed it would be fantastically wealthy facilitating trade between the Amazon and the Nile. This civilization built in an ideal position during the 2.5 million year Pleistocene would have a very long time to develop a high level of technology.
Like I said, it is fanciful. But, the physics of it are known. Cosmic impacts have reshaped the planet multiple times. Something changed the planet drastically in a very short amount of time that ended the Pleistocene. I like to entertain the idea that a previous global civilization existed that had conquered the long running ice age environment. A cosmic impact rapidly changed the environment and the civilization couldn't survive the upheaval. It doesn't matter one bit to me if it is true other than to remind me, like every other ancient civilization, that nothing, no matter how great, is forever.
Not unless you go really far beyond the "pillars of Heracles" and end up in America, but I'm sure that's been posited as an explanation plenty of times. If it is though, that's really impressive given that ships weren't made for the big oceans / months long trips like that. (I don't know if they had the navigation tools either)