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    Cleared Lot Ready to Build Title is generated by Realmo AI

    24 Towanticut Avenue, Oak Bluffs, MA 02557

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    For Sale
    $857,000

    LAND - Oak Bluffs, MA

    Lot size:
    0.39 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    115
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 24 Towanticut Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    Lot size
    0.39 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2272

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Alisan Lohan-Conway

    Listing agent Alisan Lohan-Conway

    Listing office Alisan Lohan-Conway Properties Post Office Box 2670, Edgartown, MA

    Listing date Jan 27, 2026

    MLS# 44062 Listing URL

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

    HighLights

    • Approved 8‑bedroom septic design on an oversized lot (16,895 sq. ft.) ready for building.
    • Utilities available by the lot, reducing development costs and time.
    • Walking distance to Oak Bluffs Harbor, beaches, shops, restaurants, and the Oak Bluffs Ferry.
    • Building permit in place for an ADU (Accessory Dwelling Unit).
    • Potential for a custom home, family compound, or rental property.
    • Convenient access from two avenues (Towanticut and Oak) offering design flexibility and privacy.

    Overview

    This cleared, oversized lot in Oak Bluffs offers a rare opportunity for development. The 16,895 square foot (more than 1/3 acre) lot comes with an approved eight-bedroom septic design, making it ready for construction. The property presents exceptional potential for a spacious custom home, a family compound, or a rental property. Utilities are available by the lot, which reduces development costs and time. Convenient access from both Towanticut Avenue and Oak Avenue increases flexibility for design options, access, and privacy. The location is within walking distance of Oak Bluffs Harbor, Oak Bluffs Library, Sunset Lake, Campground cottages, shops, restaurants, the Oak Bluffs Ferry, beaches, and local entertainment. This property is ideal for seasonal enjoyment, multigenerational living, or a strong rental in one of Martha's Vineyard's most desirable markets. It offers a chance to acquire a ready-to-build lot with substantial bedroom capacity and options for two structures, offering long-term and enduring value. A building permit is in place for an Accessory Dwelling Unit (ADU).
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

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

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    FAQs

    What type of property is this?
    Residential land & home lot - Oversized lot with approved septic design in Oak Bluffs.
    Where is this residential land & home lot located?
    The property is located at 24 Towanticut Avenue Oak Bluffs, MA.
    What is the asking price?
    The asking price for this property is $857,000.
    What are key features of this property?
    This property features: Approved 8‑bedroom septic design on an oversized lot (16,895 sq. ft.) ready for building.; Utilities available by the lot, reducing development costs and time.; Walking distance to Oak Bluffs Harbor, beaches, shops, restaurants, and the Oak Bluffs Ferry.
    (508) 627-1858
    We can help!
    Listing Contact
    Alisan Lohan-Conway
    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.

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