13-Acre Vacant Lot Sold For $12 Million

A large piece of vacant land in the Dionis neighborhood sold for $12 million Tuesday afternoon. The property, 76 Eel Point Road, is a 13.79 acre lot and was an off-market sale – which has become more common with available inventory currently scarce on the existing real estate market according to a source familiar with the sale.

The property was sold by Susan R. Shapiro and Rachel T. Shapiro as successor trustees for the Dionis Realty Trust. The buyer was 3 Star Farm LLC, a limited liability company registered to Ryan Kelly of Chelmsford, MA. The only existing structure to sit on the land is a small, 224 square foot pole barn. The property also has subdivision potential.

According to property records, the land was most recently purchased by Dennis L. Shapiro in 1991 – when it was bought for $362,500. The latest valuation for the land, which was made in 2023, is $4,133,900.

Lee Real Estate represented both the buyers and the sellers in the deal, but declined comment.