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180 River Road West

Kathy Pappas & Karen Neilsen Facilitate $1.45M Land Sale In Berlin, MA
SOLDLand

Kathy Pappas & Karen Neilsen Facilitate $1.45M Land Sale In Berlin, MA

180 River Road West

$1,450,000

Building Size

Asset Type

Land

Closing

Apr 8, 2024

AI

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:

Kathy Pappas from Re/Max represented the buyer in this transaction, while Karen Neilsen from LAER Realty Partners represented the seller.

Players

Karen Neilsen

LAER Realty Partners

Broker

$2.5M

vol

2 deals

Broker

Berlin Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.94%

Cash-on-Cash

-3.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93