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: 11/8/2022

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

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,427 13,415
Median Age: 32.97 41.65
Households: 982 4,963

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