Lot H Mt Vernon Street, Newport City, VT

Others for Sale - $2,900,000 - 125 acres


Agent Info

Daniel Maclure
CENTURY 21 Farm & Forest

Property Info

CIMLS#1060569
Location
  Lot H Mt Vernon Street
  Newport City VT 05855
UpdatedApril 14th, 2021
TypeOthers
Price$2,900,000
Land125 acres

Contact


Property Description

Here is your opportunity to invest in Newport's Renaissance! Approximately 125 acres bordering Newport Country Club! This property features outstanding views of the city and Lake Memphremagog plus Jay Peak to the west and Owl's Head to the north in Canada. There is an estimated 6 Million Yards of high-grade gravel. The pit is operational and is permitted for 150K yards/year. Great access from Pine Hill, Glen Road & Mt Vernon. Close to city and just off I-91 access road. Potential for over 100 residential units. This property 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 project could qualify for New Market Tax Credits. A must see development opportunity with substantial natural resources in the Northeast Kingdom! Brokers are shareholders. Terms considered to qualified buyers.


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