Lanse L. Robb Of Landvest Sells 1.19-Acre Land In Gloucester, MA For $2.75M
53 Folly Point Rd #1 Gloucester, Ma 01930, Usa
$2,750,000
Building Size
—
Asset Type
Land
Closing
Jun 29, 2023
AI
On June 29, 2023, a 1.19-acre land located at 53 Folly Point Road Lot 1 in Gloucester, MA, was sold for $2,750,000. The sale was handled by broker Lanse L. Robb of Landvest. The property is a vacant land consisting of 1.19 acres. It is situated in Gloucester, MA and offers potential for development or investment opportunities.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $2,750,000
- Address: 53 Folly Point Road Lot 1, Gloucester, MA
- Market: Gloucester, MA
- Broker: Lanse L. Robb - Landvest
Lanse L. Robb from Landvest, a well-known brokerage firm, represented the seller and facilitated the sale of the 1.19-acre land on June 29, 2023. Robb's expertise in land transactions in Gloucester, MA ensured a smooth and successful deal for both the buyer and seller. The sale price of $2,750,000 reflects the value of the property and highlights the potential it holds for future development or investment.
Players
Boston 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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93