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    111 Elm St Scituate, MA 02066

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    For Sale
    $629,000

    Coveted 1+ acre lot in Scituate, MA surrounded by woods.

    Property Features for 111 Elm St

    General Information

    Standard status
    Active
    Source: Corcoran

    Listing Agent: Jen Palmer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Scituate Acre Retreat Lot

    This is an opportunity for investors, contractors, or anyone looking to build on a 1+ acre retreat lot surrounded by unbuildable woods. It is located on one of Scituate's well-loved streets. The retreat lot is set back beyond a stone wall, abutting an antique cape and apple orchard. The woods behind the lots contained an original horse path from farms in Scituate to the harbor. Engineering is complete and approvals are set for a new 4-bedroom home. The property is close to beaches, the harbor, restaurants, and marinas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Clothing Store Building Supply Gym & Fitness Auto Repair Shop Wholesale Shop Daycare Center Kitchen & Bath Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scituate
    County
    Plymouth
    State
    Massachusetts
    Longitude
    -70.7510986
    Latitude
    42.1940468

    Nearby Similar for Sale

    • $739,000

      Scituate Harbor Mixed-Use Opportunity

      Mixed-use or multi-family development opportunity in Scituate Harbor.
      10 Allen Pl, Scituate, MA 02066
      View Details
    • $175,000
      0.23 Acres

      Scituate Office Space: Greenbush Village

      Prime Scituate office, commuter rail proximity.
      6 Macdonald Ter, Scituate, MA 02066
      View Details

    FAQs

    What type of property is this?
    Land - Coveted 1+ acre lot in Scituate, MA surrounded by woods.
    Where is this land located?
    The property is located at 111 Elm St Scituate, MA.
    What is the asking price?
    The asking price for this property is $629,000.
    What are key features of this property?
    This property features: - Expansive 1+ acre retreat lot nestled on a desirable street, bordered by protected woods.; - Engineering complete and approvals secured for a new 4-bedroom home.; - Opportunity to purchase an additional lot for building/flipping or creating a family compound.
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    111 Elm St Scituate, MA 02066
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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.

    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
    111 Elm St Scituate, MA 02066
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