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Mt Vernon St - Lot F

41 Acres of Residential Land Offered at $699,000 in Newport City, VT 05855

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Investment Highlights

This land is located in both Derby (13.2A) & Newport (27.6A) and borders I-91 access road.
As raw land it holds great potential for a large luxury home with its fantastic views of Lake Memphremagog, Jay Peak & Willoughby Gap.

The property is zoned for Commercial Use but is also well-suited for residential development.

Executive Summary

As raw land it holds great potential for a large luxury home with its fantastic views of Lake Memphremagog, Jay Peak & Willoughby Gap as well as overlooking downtown Newport. Conceptual drawings available for a 7-lot commercial subdivision or a 13-lot residential subdivision with onsite water & sewer. Being located within the Foreign Trade Zone could reduce the costs of imports for your business. The Newport portion of this property is also in an Opportunity Zone. Finally, a project could qualify for New Market Tax Credits. Certainly a Must See property. ** Two (2) shareholders are Vermont Real Estate Brokers **

New Aerial

Location Map

Property Facts

Price	$699,000	Property Type	Land
Sale Type	Investment	Property Subtype	Residential
No. Lots	1	Total Lot Size	41.00 AC

Price	$699,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Residential
Total Lot Size	41.00 AC

1 Lot Available

Lot

Price	$699,000	Lot Size	41.00 AC
Price Per AC	$17,049

Price	$699,000
Price Per AC	$17,049
Lot Size	41.00 AC

This 41-acre parcel in in Derby (13.2A) & Newport (27.6A). Borders I-91 access road, Newport Country Club, Pine Hill Road & Mt Vernon St. Zoned for Commercial Use.

Description

This 41-acre parcel, located in both Derby (13.2A) & Newport (27.6A), borders I-91 access road, Newport Country Club, Pine Hill Road& Mt Vernon St. It is zoned for Commercial Use but is also well-suited for residential development, which would require rezoning. As raw land it holds great potential for a large luxury home with its fantastic views of Lake Memphremagog, Jay Peak & Willoughby Gap as well as overlooking downtown Newport. Conceptual drawing are available for a 7-lot commercial subdivision or a 13 lot residential subdivision with onsite water & sewer. Being located within the Foreign Trade Zone could reduce the costs of imports for your business. The Newport portion of this property is also in an Opportunity Zone. Finally, a project could qualify for New Market Tax Credits. Certainly a Must See property. ** Two (2) shareholders are Vermont Real Estate Brokers.

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