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:
- 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.
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