1257 East Main (Route 5) Street, Newport City, VT 05855

FOR SALE
  • $425,000
  • 324 Days on site
  • Beds: n/a
  • Baths: n/a
  • Commercial Building
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Listing Provided By: CENTURY 21 Farm & Forest
(802) 334-1200
Listing Agent: Nicholas Maclure

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Description

$70,000 REDUCTION! Prime development opportunity with this level 1.66 Acre parcel located in the Newport City limits, yet very close to the new Walmart on Route 5 which is the busiest route in the area. The site includes a front building which could be razed & redeveloped or continue to be utilized as a multi-unit rental. There are currently 3 dance studios, 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 exterior could use upgrades but the owner has opted not to invest too much in the event a purchaser opts to raze and redevelop. 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 $2800/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. Click here to learn more about this listing.

  • MLS ID# 4621381
  • Year Built: 1960
  • 324 Days on site
  • Commercial Building
  • Beds: n/a
  • Baths: n/a

Listing Details

Den
No
Lot Size
Approximately 72309 square feet
Parking
Garage, Parking Space(4)
Features
Block, Brick and Wood, Comb, Concrete Block, Metal, Wood
Tax Amount
$5,475
Tax Year
2015
Heating
Oil

Local Info

Population
7,571
Median Household Income
$41,854
Median Years In Residence
8
Median Homeowner Age
40
Households with Children
43.10%
Percent of Homes Rented
31.97%

Nearby Elementary Schools

65 School St
166 Sias Ave
4212 Vt Route 105

Nearby Middle Schools

65 School St
57 Jr High Dr
348 Route 5

Nearby High Schools

65 School St
209 Veterans Ave
317 Lake Region Rd

These are the closest schools to your requested location. Proximity does not guarantee enrollment eligibility. Please consult your real estate agent or school district to confirm the schools you are zoned to attend.

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Samantha Wilson

OpCity