1257 East Main (Route 5) StreetNewport City, VT 05855MLS Number 4785488

  • Price: $335,000
  • 381 Days on Market
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Federal 30-year interest rate: 2.72% last updated on Nov 25, 2020
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1257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 058551257 East Main (Route 5) Street Newport City VT 05855
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  • 1.66Acreage
  • 1960Year Built
  • 16,784Square Feet
  • ActiveMLS Status

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Listed by Nicholas Maclure of Century 21 Farm & Forest
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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More Info

Basic Information

  • StatusACT
  • Modification Date11/11/2020
  • TypeDevelopment, Retail
  • List Price$335,000
  • Broker NameCentury 21 Farm & Forest
  • Listing Agent NameNicholas Maclure
  • Lister Office NameCentury 21 Farm & Forest
  • MLS Number4785488
  • MLS StatusActive

Exterior

  • ExteriorBlock, Brick, Combination, Concrete, Hardwood, Metal
  • RoofMembrane, Metal

Location

  • Building Number1257
  • StreetEast Main (Route 5) Street
  • TownNewport City
  • StateVT
  • Zip05855
  • CountyOrleans

Property

  • Acreage1.66
  • Parking Spaces
  • Property TypeCommercial Sale
  • Area
    • Business District
    • Commercial Zoning
    • Near Golf Course
    • Near Shopping
    • Near Skiing
    • Near Snowmobile Trails
  • Lot Sqft72,310
  • Road Frontage173

Other

  • Transport AccessMajor Road Access, Paved
  • View Count15

Building

  • Year Built1960
  • ConstructionMasonry, Steel Frame, Wood Frame
  • Units7
  • Drive/Doors3
  • FoundationConcrete
  • Square Feet16,784
  • Available Sqft16,784
  • BasementNone
  • Garage Spaces

Interior

  • Ceiling Heightvaries

Utilities

  • FuelOil
  • Heating CoolingHot Water
  • Phone CompanyConsolidated
Parkway Realty - Lyndonville
Parkway Realty - Lyndonville
Office: 802-626-8333
223 Main Street
Lyndonville, VT 05851
Broker Reciprocity

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 for sale on this web 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 November 30, 2020.

 

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