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Kathy Pappas & Karen Neilsen Facilitate $1.45M Land Sale In Berlin, MA
SOLD
$1,450,000
Massachusetts
See Similar DealsLand
Sold 04/08/2024
SOLD
Kathy Pappas & Karen Neilsen Facilitate $1.45M Land Sale In Berlin, MA
180 River Road West
See Similar DealsLand
Sold 04/08/2024
Summary
MASSACHUSETTS
Asset Type:Land
Transaction Type:Sale
A 29-acre vacant land parcel in Berlin, MA, with 1011 feet of frontage, was sold for $1,450,000. The property offers various potential uses, including for a riding stable, church, or agricultural purposes, subject to site plan review or special permits, and benefits from being located in a right-to-farm community.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,450,000
- Address: 180 River Road West
- Market: Berlin, MA
- Asset Type: Land
- Acres: 29.17
- Buyer's Rep: Kathy Pappas - Re/Max
- Seller's Rep: Karen Neilsen - LAER Realty Partners
Kathy Pappas from Re/Max represented the buyer in this transaction, while Karen Neilsen from LAER Realty Partners represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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