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53 Folly Point Rd #1 Glouce...

Lanse L. Robb Of Landvest Sells 1.19-Acre Land In Gloucester, MA For $2.75M
SOLDLand

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

Lanse L. Robb

Landvest

Broker

$7.5M

vol

2 deals

Broker

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