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74 Madaket Road

Land At 74 Madaket Road In Nantucket Sold For $2.7M With Brian Sullivan As The Broker
SOLDLand

Land At 74 Madaket Road In Nantucket Sold For $2.7M With Brian Sullivan As The Broker

74 Madaket Road

$2,700,000

Building Size

Asset Type

Land

Closing

Oct 11, 2024

AI

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:

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.

Players

Brian Sullivan

Fisher Real Estate

Broker

$31.3M

vol

7 deals

Broker

Nantucket 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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93