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    Lot H Mt Vernon Street

    Newport City, VT 05855
    • $2,900,000
    • STATUS: Active
    • ON SITE: 364 days
    • MLS #: 4782453
    UPDATED: 36 min ago
    $2,900,000
    • 0
      BEDS
    • 125
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    Courtesy of Daniel Maclure of Century 21 Farm & Forest.

    Description

    Here is your opportunity to invest in Newport's Renaissance! Approximately 125 acres bordering Newport Country Club! This property features outstanding views of the city and Lake Memphremagog plus Jay Peak to the west and Owl's Head to the north in Canada. There is an estimated 6 Million Yards of high-grade gravel. The pit is operational and is permitted for 150K yards/year. Great access from Pine Hill, Glen Road & Mt Vernon. Close to city and just off I-91 access road. Potential for over 100 residential units. This property 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 project could qualify for New Market Tax Credits. A must see development opportunity with substantial natural resources in the Northeast Kingdom! Brokers are shareholders. Terms considered to qualified buyers.

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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 2020-10-21T14:06:13.057.
    www.livingvermont.com/homes/100194557
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    Lot H Mt Vernon Street Newport City, VT 05855

    • Price: $2,900,000
    • Status: Active
    • Updated: 36 min ago
    • MLS #: 4782453
    0
    Beds
    0
    Baths
    0
    ½ Baths
    125
    Acres
    Neighborhood:
    Newport City
    County:
    Orleans
    Area:
    Newport City
    Property Description
    Here is your opportunity to invest in Newport's Renaissance! Approximately 125 acres bordering Newport Country Club! This property features outstanding views of the city and Lake Memphremagog plus Jay Peak to the west and Owl's Head to the north in Canada. There is an estimated 6 Million Yards of high-grade gravel. The pit is operational and is permitted for 150K yards/year. Great access from Pine Hill, Glen Road & Mt Vernon. Close to city and just off I-91 access road. Potential for over 100 residential units. This property 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 project could qualify for New Market Tax Credits. A must see development opportunity with substantial natural resources in the Northeast Kingdom! Brokers are shareholders. Terms considered to qualified buyers.
    Exterior Features

    Lot Description Lake ViewMountain ViewTrail/Near TrailViewWater View Road Frontage Tbd Water Body Type Lake

    Interior Features

    Sq Ft Total Building 0

    Property Features

    Covenants Yes Electric At Street Electric Company Vec Pre Construction No Sale Includes Land Only Sewer Public Sewer At Street Span Number 177-056-11927 Sub Property Type DevelopmentInvestmentLandOpportunity Tax Year 2019 Taxes Tbd Yes Utilities Satellite Village District Locale Newport Water Public Water - At Street Zoning Comm

    Courtesy of Daniel 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 2020-10-21T14:06:13.057.
     
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    RE/MAX North Professionals
    875 Roosevelt Highway
    Colchester VT, 05446
    Courtesy of Daniel Maclure of Century 21 Farm & Forest.