Lanse L. Robb Of Landvest Represents Buyer In Sale Of Waterfront Package Deal In Essex For $4.75M
122 132 Main Street
$4,750,000
$384/SF
Building Size
12,350 SF
Asset Type
Package Deal
Closing
Apr 29, 2025
AI
The property involved in the transaction is a waterfront package deal that includes a restaurant, motel, inn, and marina with 17 private dock slips. It is located at 122-132 Main Street in Essex, MA, encompassing a total square footage of 12,350 and achieved a sale price of $4,750,000, translating to a price per square foot of $384.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $4,750,000
- Address: 122-132 Main Street
- Market: Essex, MA
- Square Footage: 12,350
- Price Per Square Foot: $384
- Buyer's Representative: Lanse L. Robb - Landvest
- Seller's Representative: Leah Piantidosi - Coldwell Banker
The deal involved Lanse L. Robb representing the buyer through Landvest and Leah Piantidosi representing the seller through Coldwell Banker. The property provides picturesque views of the Essex River, Cranes Beach, and Hog Island.
Players
Essex Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93