Updated Sep 9, 2024
Berkshire Hathaway Fox & Roach Sells Land Parcel In Ocean City For $1.3M
2709-11 West Avenue
$1,275,000
Building Size
—
Asset Type
Land
Closing
Aug 24, 2023
About this deal
AI
A land parcel located at 2709-11 West Avenue in Ocean City has been sold for $1,275,000. The property was listed by Sean Morrisey and Michael Contino of Berkshire Hathaway Fox & Roach, who served as the brokers for the transaction. The lot spans 4,356 square feet, resulting in a price per lot square foot of $293.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $1,275,000
- Lot Square Feet: 4,356
- Price Per Lot Square Foot: $293
- Address: 2709-11 West Avenue, Ocean City
- Market: Ocean City
- Brokers: Sean Morrisey & Michael Contino - Berkshire Hathaway Fox & Roach
The sale of the land parcel at 2709-11 West Avenue in Ocean City was facilitated by Sean Morrisey and Michael Contino of Berkshire Hathaway Fox & Roach. The transaction demonstrates their expertise in the market and their ability to successfully negotiate deals for their clients.
Players
Ocean City Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.44%
Cash-on-Cash
-3.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93