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122 132 Main Street

Lanse L. Robb Of Landvest Represents Buyer In Sale Of Waterfront Package Deal In Essex For $4.75M
SOLDPackage Deal

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

Leah Piantidosi

Coldwell Banker

Broker

$5.9M

vol

2 deals

Broker

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