Bought with Meg Kauffman • Coldwell Banker Carlson Real Estate
$270,000
$325,000
16.9%For more information regarding the value of a property, please contact us for a free consultation.
2.5 Acres Lot
SOLD DATE : 07/22/2016
Key Details
Sold Price $270,000
Property Type Commercial
Sub Type Investment,Opportunity
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 4421917
Sold Date 07/22/16
Construction Status Existing
Year Built 1790
Annual Tax Amount $10,310
Tax Year 2014
Lot Size 2.500 Acres
Acres 2.5
Property Description
One of Stowe's well-known and highly visible locations (former Miguel's Stowe Away). Located on the Mountain Road, in the Mountain Road Commercial district (MRC), just 4 miles from Stowe Mountain Resort. Allowable density is 1 unit per 10,000 sq.ft. for duplexes, 2 units for 10,000 sq. ft. if used as a lodge. Presently, the density allows 9-10 multifamily units, 20 units as a lodge, or as previously permitted for a 129-seat restaurant and 14-guest lodge based on sewer allocation...30 gallons per restaurant seat and 50 gallons per guest lodger. The above reflects a sewer and water allocation (paid & current) of a flow of 4,570 gallons - each bedroom requires 150 gallons...enough for 30 bedrooms. A 9-10 unit duplex of three bedrooms each would be possible. Present value of current sewer and water allocation alone would equate to $120,000 plus the value of the 2.5 acre zoning density. Permit to demolish granted as of 10/23/15 with certain conditions. Video available to qualified buyers.
Location
State VT
County Vt-lamoille
Area Vt-Lamoille
Zoning MRC
Rooms
Basement Entrance Interior
Basement Crawl Space, Full
Interior
Heating Gas - LP/Bottle
Cooling Multi Zone
Flooring Carpet, Combination, Wood
Exterior
Exterior Feature Wood Siding
Garage On-Site, Parking Spaces 21+, Unpaved
Garage Description On-Site, Parking Spaces 21+, Unpaved
Roof Type Shingle
Building
Sewer Public
Water Public
Construction Status Existing
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