Hinckley’s Lumber, the landmark commercial property on Beach Road in Vineyard Haven, has been sold to an Aquinnah real estate investor.

The Larkin B. Reeves Family Trust bought the land and buildings, which include a lumber yard, home supply store and a hardware store, for $2.3 million on July 31, land records show.

The seller is H.N. Hinckley & Sons, Inc., a corporation headed by Wayne Guyther 3rd.

The property includes four buildings, a two-story, 11,401-square-foot office, retail and warehouse building, a 4,000-square-foot lumber storage building, a 3,500-square-foot hardware store, and a 2,700-square-foot plumbing supply building.

The current appraised parcel value of the 1.6-acre property is $2.5 million, according to Tisbury assessors records.

New owner said he hopes to keep at least the hardware store part of the business going.

Ray Ewing

New owner said he hopes to keep at least the hardware store part of the business going.

Ray Ewing

The Hinckley family has run the business founded by patriarch Herbert N. Hinckley on the site for more than a century. In recent years the business has faced financial hard times. In February, a foreclosure auction was scheduled for the property, but the auction was postponed.

Larkin (Barry) Reeves is a real estate investor on Martha’s Vineyard. A resident of Aquinnah, he and his wife Grace already own about a dozen commercial and residential properties around the Island. In 2015 he partnered with real estate developer Bob Sawyer and architect Sam Dunn to develop the bowling alley Barn, Bowl and Bistro in Oak Bluffs in a building that he owns. He also owns the building at Five Corners in Vineyard Haven that now houses the Tropical restaurant, and recently appeared before the Martha’s Vineyard Commission, representing the Sawyer Realty Group, to present a plan for the expansion of that property.

Reached by telephone this week, Mr. Reeves said talks about the use of the Hinckley’s property are still underway.

“We’re trying to settle up,” he told the Gazette. “I’m involved in the purchase of that property but I’m not ready to comment at this point. We still have some negotiation to do.”

Asked if he intends to continue operating the current business at the site, he said: “Yes, that’s part of the discussion. Hopefully, we’ll be able to keep at least the hardware store going on.”