0 Mount Vernon St Newport, VT 05855

This exceptional 41-acre parcel presents a unique investment opportunity in Newport, Vermont. Strategically located at the intersection of Pine Hill Road and Mount Vernon Street (Lot F), this property offers unparalleled access to Interstate 91 via Exit 27. The land is currently zoned for commercial use, encompassing 13.2 acres in Derby and 27.6 acres in Newport City. Its prime location near the Newport Country Club and other key landmarks provides excellent visibility and accessibility. While currently zoned commercial, the property holds significant potential for residential development, subject to rezoning. Proposed plans suggest the possibility of a 7-lot commercial subdivision or a 13-lot residential subdivision. The property boasts breathtaking views of Lake Memphremagog, Jay Peak, and Willoughby Gap, along with views of downtown Newport. Essential water and sewer services are accessible. Furthermore, its location within a Foreign Trade Zone may offer reduced import costs for businesses, and the property may qualify for New Market Tax Credits. The asking price is $699,000. This property requires a personal visit to fully appreciate its potential.