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1257 East Main (Route 5) Street, Newport, Vermont

$425,000Active

1257 East Main (Route 5) Street, Newport, Vermont 05855
Nicholas Maclure ~ Century 21 Farm & Forest - MLS® ID: 4621381

Property Details

1257 East Main (Route 5) Street, Newport, Vermont 05855 - $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.

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Amenities

  • Zip05855
  • CountyOrleans
  • StatusActive
  • Purchase TypeActive
  • Property typeCommercial
  • Year built1960
  • SewerPUBLIC
  • HeatingHot Water
  • ParkingGarage
  • Tax year2015
  • Office ID4312-0
  • Agent ID22563
  • Agent nameNicholas Maclure
  • MLS® ID4621381

Broker: Nicholas Maclure ~ Century 21 Farm & Forest

Listing Courtesy of Nicholas Maclure ~ Century 21 Farm & Forest

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