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$699,000 List Price
Land Type
41 Acres
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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. †
Property Location
Property Details
| List Price $699,000 | Taxes $0 |
|---|---|
| Cooperation Fee Unknown | Tax Year |
| MLS# 4958531 | Exposure East, North, South, West |
| Type Land | Surveyed Yes |
| Zoning Commercial | Road Frontage 2300 Ft |
| Lot Size 41 Acres | Water Frontage |
| Easements | Water Body |
| List Date Jun 23rd, 2023 |
| MLS# 4958531 | Taxes $0 |
|---|---|
| List Price 699,000 | Exposure East, North, South, West |
| Type Land | Surveyed Yes |
| Zoning Commercial | Road Frontage 2300 Ft |
| Lot Size 41.0000 Acres | Water Frontage |
| Easements | Water Body |
| List Date Jun 23rd, 2023 |
| Amenities |
|---|
| Topography Abuts Golf Course, Wooded |
| Location , Adj Golf Course, Near Country Club, Near Golf, Near Skiing, Near Snowmobile Trails, Field/Pasture, Level, Major Road Frontage, Open, Sloping, View, Wetlands |
| Utilities |
| Directions From I-91 Access Rd take Pine Hill Rd to stop sign. Property is on right corner of Pine Hill & Mt Vernon. Lot access is first right on Mt Vernon, opposite the golf course at Newport Country Club. |
| Current Use Agriculture, Commercial, Recreational | Roads |
|---|---|
| Sewer On Site Septic Needed | Roads |
| Water | Structure |
| Electric At Street | Shore Rights |
| Gas | Restrictions Other, Mobile Homes, Deed |
† The remarks published on this webpage originate from Listed By Nicholas Maclure of Century 21 Farm & Forest via the PrimeMLS IDX Program and do not represent the views and opinions of Coldwell Banker Hickok & Boardman. Coldwell Banker Hickok & Boardman cannot be held responsible for possible violations of copyright resulting from the posting of any data from the PrimeMLS IDX Program.
