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Land At 74 Madaket Road In Nantucket Sold For $2.7M With Brian Sullivan As The Broker
SOLD
$2,700,000
Massachusetts
See Similar DealsLand
Sold 10/11/2024
SOLD
Land At 74 Madaket Road In Nantucket Sold For $2.7M With Brian Sullivan As The Broker
74 Madaket Road
See Similar DealsLand
Sold 10/11/2024
Summary
MASSACHUSETTS
Asset Type:Land
Transaction Type:Sale
The property asset involved in this transaction is a land parcel located at 74 Madaket Road in Nantucket, MA. This land spans an area of 1.84 acres and was sold for $2,700,000. It is situated less than a mile from Main Street, contributing to its market value in the area.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,700,000
- Address: 74 Madaket Road
- Market: Nantucket, MA
- Acres: 1.84
- Broker: Brian Sullivan - Fisher Real Estate
This transaction involved Brian Sullivan, who represented the property in the sale through Fisher Real Estate. The prominence of the location, being near Main Street, highlights the strategic significance of this real estate deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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