1257 E Main St
Newport, VT 05855
Retail Property For Sale

Prime Real Estate with this level 1.66 Acre parcel located in the Newport City limits, yet very close to Walmart on Route 5 which is the busiest route in the area. The site includes a front building which is currently used as a multi-unit rental. There are currently 3 dance studios, a vacant retail space, additional space upstairs, and a large area with overhead doors which the owner currently uses for storage. The building has over 12,000 square feet and many of the spaces have been renovated. The rear building is a 50' x 80' metal building & is in great shape. It is used as an automotive garage but could make a great warehouse as well. Property currently generates about $2,700/month in income which would allow an investor to hold the property until a development opportunity arises. City water & sewer. Phase III power, cable and DSL. This property is located within the Foreign Trade Zone which could reduce the costs of imports for your business. Furthermore it is located in anIRS designated Opportunity Zone which could provide an investor with preferential tax treatment as part of the Tax Cuts and Jobs Act of December 2017. Finally are development project might qualify for New Market Tax Credits.