Green Mountain Race Track Development Opportunity
Vacant Land
for Sale
| Catylist Listing ID: |
30823177 |
| Property Subtypes: |
Hospitality, Industrial, Mobile Home Park, Multi-Family, Office, Retail, Self Storage, Vacation/Resort
|
| Gross Land Area: |
144.77 Acres
|
| Sale Price: |
$3,500,000 |
| Unit Price: |
$24,176 Per Acre |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/21/2024 |
Overview / Comments
The Green Mountain Racetrack, which operated from 1963 until 1993, was a thoroughbred horse and greyhound racing track located in Pownal, Vermont. The property is located ~1 hour east of Albany NY, ~3 hours west of Boston, ~3 hours north of New York City and ~3 hours due south of Burlington VT. The location has hosted numerous events including Lollapalooza in 1996. The Property abuts US Route 7, for easy access north south from Connecticut to Quebec, and is near Williamstown, MA.
The purchase of this property is a rare opportunity to create a destination development at the intersection MA, VT, and NY and lies just north of the Berkshires. Several former thoroughbred tracks have been redeveloped throughout New England with significant success and the subject parcel is next in line. Previous approvals have allowed a 1,300-unit residential development. The asking price will increase as ownership seeks entitlements for a mixed-use development based on current market conditions. The parcel enjoys access to the local aquifer with substantial water development rights and can be connected to municipal water and sewer.
|
Additional Details
| Nearest MSA: |
Bennington |
| County: |
Bennington |
| Tax ID/APN: |
495-156-10827 |
| Zoning: |
VILLAGE |
| Site Description: |
Huge Development Opportunity |
| Lot Frontage: |
Ample |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
3,427 |
13,415 |
| Median Age: |
32.97 |
41.65 |
| Households: |
982 |
4,963 |
|
© Copyright 2024 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
|
