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    1257 East Main (Route 5) Street

    Newport City, VT 05855
    • $349,900
    • STATUS: Active
    • ON SITE: 343 days
    • MLS #: 4785488
    UPDATED: 134 min ago
    $349,900
    • 0
      BEDS
    • 1.66
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 16,784
      SQFT
    • $21
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1960
    County:
    Area:

    School Ratings & Info

    Courtesy of Nicholas Maclure of Century 21 Farm & Forest.

    Description

    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 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.

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    © Copyright 2020 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2020-10-24T00:05:46.333.
    www.livingvermont.com/homes/100978525
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    1257 East Main (Route 5) Street Newport City, VT 05855

    • Price: $349,900
    • Status: Active
    • Updated: 134 min ago
    • MLS #: 4785488
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.66
    Acres
    16,784
    SQFT
    $21
    $/SQFT
    1960
    Built
    Neighborhood:
    Newport City
    County:
    Orleans
    Area:
    Newport City
    Property Description
    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 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.
    Exterior Features

    Construction MasonrySteel FrameWood Frame Exterior BlockBrickCombinationConcreteHardwoodMetal Parking GarageOn-SiteParking Spaces 21+ Road Frontage Yes Road Frontage Length 173 Roof MembraneMetal Total Drivein Doors 3 Transport Access Major Road AccessPaved

    Interior Features

    Basement No Basement Description None Ceiling Height Varies Divisible Sq Ft Unknown Foundation Concrete Heating Hot Water Sq Ft Total Building 16784 Sq Ft Total Source Municipal

    Property Features

    Auction No Cable Company Comcast Commercial Features Additional Outbuildings Covenants No Electric 3 Phase Electric Company Vec Gross Income 32400 Heat Fuel Oil Phone Company Consolidated Pre Construction No Sale Includes Additional BuildingsBuilding OnlyLand/Building Sewer Public Span Number 425-136-14906 Sub Property Type DevelopmentRetail Sub Property Type Use GarageOffice BuildingStorefrontWarehouse Surveyed Yes Tax Gross Amount 6702.78 Tax Year 2019 Tax Year Notes 2019-2020 Taxes Tbd No Utilities Cable - AvailableDsl - Available Water Public Zoning Commercial

    Courtesy of Nicholas Maclure of Century 21 Farm & Forest.


    © Copyright 2020 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of NEREN. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2020-10-24T00:05:46.333.
     
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    RE/MAX North Professionals
    875 Roosevelt Highway
    Colchester VT, 05446
    Courtesy of Nicholas Maclure of Century 21 Farm & Forest.