1257 East Main (Route 5) Street
Newport City, VT 05855
MLS ID# 4785488 Active
Development
$389,900
Map Layers
Details for 1257 East Main (Route 5) Street, Newport City VT 05855
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 signage business, a retail space 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 $3,900/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 an IRS 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 a redevelopment project might qualify for New Market Tax Credits. Contact Nick Maclure at Century 21 Farm & Forest or more information.
Features and Details
- List Price $389,900
- Category Commercial
- Type Development
- Village/Neighborhood
- Submarket
- County Orleans
- Lot SQFT 72310
- SQFT - Total Available 16784 sqft
- Acreage 1.66
- MLS ID# 4785488
- Annual Expenses/Income
- Income: 46800
- Apx Bldg SqFt
- 16784
- Basement
- None, No
- Ceiling Height
- varies
- Construction
- Masonry, Steel Frame, Wood Frame
- Heating
- Hot Water
- Parking
- Garage, On-Site, Parking Spaces 21+
- Siding
- Block, Brick, Combination, Concrete, Hardwood, Metal
- Total
- Units: 7
- Features
- Additional Outbuildings
- Zoning
- Commercial
- Location
- Business District, Commercial Zoning, Near Golf Course, Near Shopping, Near Skiing, Near Snowmobile Trails
- Property Types
- Development, Retail
- Property Type Use
- Garage, Office Building, Storefront, Warehouse
- Transport Access
- Major Road Access, Paved
- Deed
- Book: 136, Page: 215-217
- Foreclosed/Bank-Owned
- Foreclosed/Bank-Owned: No
- Delayed Showings
- No
- Sale Includes
- Additional Buildings, Building Only, Land/Building
- Sale Type
- Sale
Local Information (click to view details)
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