Highest & Best Use Analysis and Marketing of Harborfront Property

For more information, please contact:

Nick Pratt - npratt@landvest.com

HBU and Marketing of Harborfront Property

Padanaram Harbor - 22.4 Acre Lot in South Dartmouth, Massachusetts

PROPERTY LOCATION

• Gulf Road, South Dartmouth, MA

PROPERTY SPECIFICS

• A 22.4± acre waterfront parcel
• 11.5± acres are protected by a Conservation Restriction
• 12 residential structures

THE PRINCIPALS

• Family owners (multiple siblings)

THE ASSIGNMENT

• Highest and best use analysis based on four subdivision alternatives.
• Determine market value of the farm and "cottage colony" - 12 residential structures.
• Develop marketing strategy including a conservation-related offering.
• Launch on open market.

CHALLENGES OVERCOME

• Multiple highest& best use options based on four subdivision alternatives.
• Consider value and use implication of new town sewer service
• Determine market value of the farm and unique "cottage colony" of 12 residential structures.
• Major flood zone constraints impacted the use options and market value.

THE OUTCOME

Sold in 6 months to family looking to continue operating the farm as a cottage colony.