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Andrew McElhinney Of Compass Represents Buyer In $2.25M Oak Bluffs Land Sale

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SOLD
$2,250,000

Massachusetts

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Land
Sold 07/01/2024
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Property Image
SOLD

Andrew McElhinney Of Compass Represents Buyer In $2.25M Oak Bluffs Land Sale

31 Ice Pond Lane

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Land
Sold 07/01/2024
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Summary

MASSACHUSETTS
Asset Type:Land
Transaction Type:Sale

The property at 31 Ice Pond Ln, Oak Bluffs, MA 02557, was sold for $2,250,000. This 3.5-acre vacant land is located in the Farm Neck Golf Club community and offers a rare opportunity to build a dream home in Martha's Vineyard. The property comes with stockholder membership benefits and provides access to renowned golfing facilities in a serene and picturesque setting.

Summary of transaction details:

Andrew McElhinney of Compass represented the buyer in this transaction, while Thomas Wallace of Sotheby's International Realty represented the seller. The deal for the 3.5-acre land at 31 Ice Pond Lane marks a significant opportunity for the buyer to own a piece of land in a premier location within the Farm Neck Golf Club community.

Players

Andrew McElhinney
4 deals$12.4M volume
BROKER

Thomas (Tom) Wallace
Sotheby's International Realty
3 deals$28.6M volume(508) 627-3777
BROKER

Details

SOLD
IMAGE: Andrew McElhinney & Thomas Wallace DATE: 07/01/2024 ADDRESS: 31 Ice Pond Lane MARKET: Oak Bluffs, MA ASSET TYPE: Land ~ ACRES: 3.5 BUYER'S REP: Andrew McElhinney (@MarthasVineyardRealEstate) - Compass (@Compass) SELLER'S REP: Thomas Wallace - Sotheby's International Realty (@SothebysRealty) SALE PRICE: $2,250,000 NOTE: 31 Ice Pond Ln, Oak Bluffs, MA 02557, sold for $2,250,000. This 3.5-acre vacant land in the Farm Neck Golf Club community presents a rare opportunity to build a dream home in Martha's Vineyard, complete with stockholder membership benefits and access to renowned golfing facilities in a serene, picturesque setting.

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

$120,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77