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Chris Remmes & John Farrell Facilitate $1.95M Farm Sale In Wenham, MA

Property Image
SOLD
$1,950,000
John Farrell
Chris Remmes

Massachusetts

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Farm4,553 SF
Sold 05/22/2024
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Property Image
SOLD

Chris Remmes & John Farrell Facilitate $1.95M Farm Sale In Wenham, MA

235 Larch Row

See Similar Deals
Farm4,553 SF
Sold 05/22/2024
John Farrell
Chris Remmes
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:Farm
Price Per Square Foot:$428
Total Square Footage:4,553 SF
Transaction Type:Sale

A skillfully converted post & beam barn in Wenham, MA, boasting historic charm and contemporary living, sold for $1,950,000. Situated on picturesque fields and pastures with over 3 acres, the property seamlessly integrates indoor and outdoor spaces, featuring a stunning stairway, wood-burning fireplace, spacious kitchen, and a two-story timber-framed barn awaiting customization.

Summary of transation details:

The deal was facilitated by Chris Remmes from Remmes & Co, representing the buyer, and John Farrell from Coldwell Banker, representing the seller. The transaction took place on 05/22/2024.

Players

Chris Remmes
Remmes & Co
Chris Remmes
3 deals$4.5M volume
BROKER
John Farrell
Coldwell Banker
John Farrell
3 deals$5.8M volume
BROKER

Details

SOLD
IMAGE: Chris Remmes & John Farrell DATE: 05/22/2024 ADDRESS: 235 Larch Row MARKET: Wenham, MA ASSET TYPE: Farm BUYER'S REP: Chris Remmes - Remmes & Co (@Remmes.Co) SELLER'S REP: John Farrell - Coldwell Banker (@ColdwellBanker) SALE PRICE: $1,950,000 SF: 4,553 ~ PPSF: $428 NOTE: A skillfully converted post & beam barn in Wenham, MA, boasting historic charm and contemporary living, sold for $1,950,000. Situated on picturesque fields and pastures with over 3 acres, the property seamlessly integrates indoor and outdoor spaces, featuring a stunning stairway, wood-burning fireplace, spacious kitchen, and a two-story timber-framed barn awaiting customization.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$103,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94