$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. 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 project could qualify for New Market Tax Credits.