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Mt Vernon St - Lot F 41 Acres of Residential Land Offered at $699,000 in Newport City, VT 05855
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
PROPERTY FACTS
| Price | $699,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 41.00 AC |
| Property Type | Land | No. Stories | 1 |
| Zoning | Commercial - General commercial | ||
| Price | $699,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 41.00 AC |
| No. Stories | 1 |
| Zoning | Commercial - General commercial |
1 LOT AVAILABLE
Lot
| Price | $699,000 | Lot Size | 41.00 AC |
| Price Per AC | $17,048.78 |
| Price | $699,000 |
| Price Per AC | $17,048.78 |
| 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 of land, strategically positioned at the confluence of Derby (13.2 acres) and Newport (27.6 acres), enjoys proximity to key landmarks such as the I-91access road, Newport Country Club, Pine Hill Road, and Mt. Vernon St. While currently designated for commercial use, there exists a promising potential for residentialdevelopment, contingent upon rezoning. The untouched terrain presents an opportunity for an expansive upscale dwelling, offering panoramic vistas of Lake Memphremagog, Jay Peak, Willoughby Gap, and downtown Newport. Proposed blueprints outline the feasibility of a 7-lot commercial subdivision or a 13-lot residential division with access to essential water and sewer amenities. Furthermore, being within the Foreign Trade Zone could translate to reduced import expenditures forenterprises, along with the prospect of qualifying for New Market Tax Credits. This property warrants a personal inspection, with the additional detail that two (2)stakeholders are licensed Vermont Real Estate Brokers.
PROPERTY TAXES
| Parcel Number | 177-056-11793 | Improvements Assessment | $571,000 |
| Land Assessment | $286,100 | Total Assessment | $857,100 |
PROPERTY TAXES
Presented by
Mt Vernon St - Lot F
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