2 Plum Island Tpke Newbury, MA 01951

This exceptional 0.27-acre lot at 2 Plum Island Turnpike (also known as 2 Sunset Drive) in Newbury, MA (01951), presents a unique investment/development opportunity. The property boasts 4,521 square feet of buildable space, currently zoned AR4, allowing for various uses. The existing structure, approximately 4,519 square feet including a 512 square foot patio, could be redeveloped into a substantial residential home with an ancillary unit or a restaurant, both permitted by-right. Alternatively, a special permit could allow for multiple residential units or other commercial ventures, potentially increasing the building size. The property features 20 parking spaces and enjoys a prime location at the crossroads of Plum Island Boulevard and Sunset Drive, offering convenient access to downtown Newburyport and the ocean. A legal opinion letter is available to qualified buyers. Engineering work has commenced on a multi-unit permit application. The asking price is $1,950,001, with a price per square foot of $431.32. The land value alone is $162.49 per square foot. The property is expected to be available on December 31, 2024. This is a rare chance to acquire a highly desirable property in a thriving coastal community. Don't miss this chance to create your dream project in a location known for its stunning sunsets and strong demographics.