1257 East Main (Route 5) Street, Newport City, VT 05855

$425,000
For Sale
Type: Commercial-Other Lot Size: 1.66 Acres
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Property Details for 1257 East Main (Route 5) Street, Newport City, VT 05855

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Property Overview

$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.
Listed By CENTURY 21 Farm & Forest

Features

  • Common Area Factor: 0
  • Cross Docks: N
  • Exterior Description: Brick
  • Exterior Description: Concrete Block
  • Exterior Description: Other
  • For Auction: N
  • Garage Description: Garage
  • Heating - Fuel Type: Oil
  • Heating - Fuel Type: Other
  • Lot Size: 72309.60
  • Lot Size In Text: 1.66 Acres
  • MLSID: 4621381
  • Parking Places: 4
  • Price Upon Request: N
  • Rent Includes: Hot Water
  • Roof: Metal Roof
  • Style: Other Style
  • Sublease: N
  • Tax Year: 2015
  • Taxes: $5474.54
  • Year Built: 1960

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Demographic Data for Newport, VT 05855

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HOUSEHOLD INCOME
$52K
MEDIAN AGE
43
OWNER OCCUPIED DWELLINGS
1,886
VACANT DWELLINGS
563
HOUSEHOLDS WITH CHILDREN
854
ETHNIC BACKGROUND
POPULATION
7,288
Population per Square Mile
131.3
Population Change Since 2000
-4%
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CENTURY 21 Agent Nicholas Maclure
5043 US Rt 5, Derby Road,
Derby, VT 05829
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Additional Comments
The Commercial-Other property located at 1257 East Main (Route 5) Street, Newport City, VT 05855 is currently for sale. 1257 East Main (Route 5) Street, Newport City is listed by CENTURY 21 Commercial Real Estate for $425,000. The property was built in 1960. If the property located at 1257 East Main (Route 5) Street, Newport City, VT isn't what you're looking for, search Vermont commercial real estate to see other properties for sale or lease in Newport.