Celeste Bentley - Goldcoast Sotheby's Represents Buyer And Graham Ginn - Berger Realty Represents Seller In $1.37M Land Sale In Ocean City
727 West Avenue & 731 West Avenue
$1,370,000
$131/SF
Building Size
10,454 SF
Asset Type
Land
Closing
Jun 26, 2024
AI
727-731 West Avenue in Ocean City was sold for $1,370,000, representing a double lot with a size of 5,227 square feet and a price per lot square foot of $262. The property, located in the downtown area, is zoned for Drive-In Business, allowing versatile development opportunities including commercial, residential, professional offices, retail, and more.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,370,000
- Lot Size: 5,227 SF
- Price Per Lot Square Foot: $262
- Address: 727-731 West Avenue
- Market: Ocean City
The buyer's representative for this transaction was Celeste Bentley from Goldcoast Sotheby's International Realty, while the seller's representative was Graham Ginn from Berger Realty.
Players
Ocean City 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
11.58%
Cash-on-Cash
-3.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93