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Listed by Nicholas Maclure • Century 21 Farm & Forest
$699,000
Est. payment /mo
41 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4958533
Tax Year 2023
Lot Size 41.000 Acres
Acres 41.0
Property Description
This 41-acre parcel is strategically located between the City of Newport (27.6 acres) and the Town of Derby (13.2 acres), offering exceptional visibility and accessibility near the I-91 access road, Newport Country Club, Pine Hill Road, and Mt. Vernon Street. Currently zoned for commercial use, the property also presents significant potential for residential development, subject to necessary approvals and rezoning. Elevated portions of the land offer outstanding views of Lake Memphremagog, Jay Peak, Owls Head, and downtown Newport, creating a unique setting for a variety of development opportunities. Conceptual plans have demonstrated the potential for either a 7-lot commercial subdivision or a 13-lot residential subdivision. The property is located within the Foreign Trade Zone, which may provide advantages such as reduced import costs for qualifying businesses, and it may also be eligible for New Market Tax Credits. Furthermore, from a residential development perspective, this property might be well suited for Community Housing and Infrastructure Program (CHIP) funding which if approved can be used for infrastructure such as roads, power, water, sewer, stormwater, engineering and more. Opportunities of this scale, location, and development potential are increasingly rare in the Newport-Derby market. A personal inspection is highly recommended. *Please note that one of the property shareholders is a licensed Vermont Real Estate Broker.
Location
State VT
County Vt-orleans
Area Vt-Orleans
Zoning commercial
Body of Water Lake
Interior
Inclusions Land Only
Exterior
Utilities Available Cable at Site
Waterfront Description Yes
View Y/N Yes
View Yes
Building
Sewer On-Site Septic Needed
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NEARBY SCHOOL & BUSINESS
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