Properties Near - Mount Vernon Street Newport City, VT

This 41-acre parcel of land, strategically positioned at the confluence of Derby (13.2 acres) and Newport (27.6 acres), enjoys proximity to key landmarks such as the I-91 access road, Newport Country Club, Pine Hill Road, and Mt. Vernon St. While currently designated for commercial use, there exists a promising potential for residential development, contingent upon rezoning. The untouched terrain presents an opportunity for an expansive upscale dwelling, offering panoramic vistas of Lake Memphremagog, Jay Peak, Willoughby Gap, and downtown Newport. Proposed blueprints outline the feasibility of a 7-lot commercial subdivision or a 13-lot residential division with access to essential water and sewer amenities. Furthermore, being within the Foreign Trade Zone could translate to reduced import expenditures for enterprises, along with the prospect of qualifying for New Market Tax Credits. This property warrants a personal inspection, with the additional detail that two (2) stakeholders are licensed Vermont Real Estate Brokers.

The former Sacred Heart School and Convent has rich history and is a landmark in the City of Newport. The property sits on over 8 acres that look over Lake Memphremagog and feature a large open athletic field, a 35,322 sq ft school building, a 12,708 sq ft convent, commercial grade kitchens, a chapel, large common areas and a total of 35 bedrooms. Both buildings also have partially finished basements. A third building holds a garage and additional dormitory space. This prime historic site is in close proximity to downtown Newport’s shopping and dining, the Gateway Center and Marina as well as the boardwalk along the lakeshore. The open acreage and its existing buildings hold much potential for development of senior housing, scholastic or retreat center, and other similar uses. Investors and Developers…this is great opportunity to create a state of the art facility within the region!