Pocomo Possibilities
Coldwell Banker Real Estate $1,695,000
The astute buyer of real estate on Nantucket knows one thing to be true: Land on the island is climbing in value faster than improved property. This is likely due to the fact that available residential lots are getting scarcer and scarcer. It's the law of supply and demand. As the supply quickly disappears and demand continues unabated, land becomes more and more precious, and great deals like this one are virtually unheard of.

COURTESY OF EMERITUS DEVELOPMENT, LTD.

The property at 32 Pocomo Road has a dwelling on it. However, the structure does have a current demolition permit, and the property also has a set of plans that HDC has approved for a magnificent new home. In effect, one can look at the property at 32 Pocomo Road in three ways:

First, you could consider it a fixerupper. The current dwelling was built in the '70s and has many positive attributes. For one, the kitchen is large and sunny, and it empties out into a large living room with a broad picture window facing east. The four bedrooms are exceptionally large, and the two full baths are conveniently located on the first and second floor. Perhaps the best part is that the wrap-around deck to the back of the property provides plenty of space for entertaining and enjoying Nantucket summers. The existing structure could use some updating, including new flooring and paint throughout. A pair of dormers on the second story would be a good idea, as the current windows are not optimally located to take in the water views.

Second, you could take advantage of the plans now before the HDC, and with a couple of minor modifications, build your dream home. The first floor of this grand summer retreat features a very large living room and a massive kitchen with a center island and a separate dining area. There's also a guest suite on the floor and a powder room/mud room. The second floor features three large and sunny bedrooms suites, all with cathedral ceilings. The master suite features its own balcony with spectacular water views to the east across the point. It offers a magnificent and luxurious bath with a large tub, water closet and dual sinks. The walk-in closet is as large as a typical bedroom.

Best of all, if you choose this route, you acquire the privilege of picking materials for countertops, flooring and built-in woodwork. You can choose paint colors and fabrics and make this Nantucket home the home you've always wanted, all without having to go through the trouble of getting approvals and permits - they're already done for you.

Third, you could exercise your right to demolish the existing building and start from scratch with an allnew home plan. The lot is zoned LUG-3, but this particular lot is just under an acre, which means it is generally surrounded by lots three times as large, and the neighborhood itself is mature and nearly built out. The Pocomo area is prized for its solitude and wonderful light, and this lot is close to the beach at Pocomo Head, as well as to the Wauwinet area, the gateway to Great Point and the quiet beaches of Quidnet and Squam. This parcel is also a short distance to some of the island's best walking trails and conservation land.

If you love the out-of-doors, this is the place for you; it's hard to find a more picturesque and idyllic spot on earth than Pocomo in the summertime. Or in the off season, for that matter.

This rare and quiet property, with several possibilities for renovation or new construction to fit the needs of any new buyer, is offered at

$1,695,000. I