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    4 Canonicus Avenue Oak Bluffs, MA 02557

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    For Sale
    $5,325,000

    MULTI_FAMILY - Other - Oak Bluffs, MA

    Property size:
    2,890 SF
    Lot size:
    0.20 Acres
    Added:
    Jun 25, 2025
    Days on Market:
    284
    Last Refresh:
    Apr 4 at 8:06 am

    Property Features for 4 Canonicus Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 1, Basement, Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 3
    Parking
    5
    Exterior features
    Private Yard, Underground Sprinkler System, Outdoor Shower
    Basement
    Full
    Appliances
    Water Heater
    Standard status
    Active
    APN
    10/160
    Size
    2,890 SF
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1870
    Floors in Building
    2
    Building materials
    Shingle Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Katherine Donahue

    Listing agent Katherine Donahue License #9509781

    Listing office Sandpiper Realty Inc 60 Winter Street, Edgartown, MA

    Listing date Jun 25, 2025

    MLS# 32500201 Listing URL

    Copyright © 2026 Martha’s Vineyard Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Charming Oak Bluffs Compound

    This distinctive compound, overlooking Nantucket Sound and near downtown Oak Bluffs, blends a laid-back West Coast style with vintage charm. The updated four-bedroom main house offers refined, contemporary comforts suitable for all seasons. A private guest house, known as The Nest, provides a secluded retreat with a private deck, outdoor shower, and parking. The 616-square-foot Nest features a living space with a full bath on the first floor, and an upstairs bedroom with a private balcony overlooking Farm Pond and Nantucket Sound. Mini-splits offer heat and air conditioning. Adjacent to the main house, the bunk house offers an open-concept layout, a full bath, a front deck with water views, and a private outdoor shower and deck. Mini-split provides heat and air conditioning. The property's wraparound porch offers ocean views, while nearby beaches, shops, restaurants, Circuit Avenue, and the Harbor provide additional attractions. With an established rental history, this property offers an opportunity to own in an iconic Oak Bluffs location. The property is situated on a 0.2-acre lot.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Map

    City
    Oak Bluffs
    County
    Dukes
    State
    Massachusetts
    Longitude
    -70.5647
    Latitude
    41.4451

    Nearby Similar for Sale

    • $1,830,000
      1,600 SF

      Historic Oak Bluffs Twin Cottages

      Two charming, furnished cottages in a prime Oak Bluffs location.
      12 & 14 Maple Avenue, Oak Bluffs, MA 02557
      View Details
    • $600,000
      717 SF

      Versatile Retail Space in Oak Bluffs

      Move-in ready commercial space with flexible layout options.
      47 Circuit Ave, Oak Bluffs, MA
      View Details

    FAQs

    What type of property is this?
    Single family property - Unique compound near downtown with ocean views and rental history.
    Where is this single family property located?
    The property is located at 4 Canonicus Avenue Oak Bluffs, MA.
    What is the asking price?
    The asking price for this property is $5,325,000.
    What are key features of this property?
    This property features: Nantucket Sound views and proximity to downtown Oak Bluffs.; Main house with four bedrooms, updated with contemporary comforts.; Includes a private guest house ('The Nest') with private deck, outdoor shower, and water views.
    (508) 627-3737
    We can help!
    Listing Contact
    Katherine Donahue
    Real Estate License ID: 9509781
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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