Listed by VT Commercial
$2,950,000
Millyard Village Phase I
Details
Property Type Land
Sub Type Commercial
Acreage 15.960
Land | 15.96 acres
Marketing description
Currently known as Old Mill Green, Millyard Village Phase I is an exciting new development project offered for sale
in Jericho, VT. Bordered by VT Route 15, Park St., and River Street, Phase I provides a total of 6.65 acres, and includes
a large restored Mill Building as a centerpiece. The project allows for 13 single family residential lots (Lots A6-A8, R1-
R5, S1, and U1-U4), 10 residential units in the Mill Building (3, one bedroom and 7, two bedroom units) (Lot T1), and 5
commercial lots assuming 6 employees on each lot (Lots V1-V5 on the plan). The total septic system capacity for the
leach field in the park area is 6,085 gallons per day. The Town of Jericho has been a part of the planning of this project,
and supports the concept of creating a larger community within the area. Brown’s River Middle School, the Jericho
Library and the Jericho Market are all a short walk away. Please see below for the details concerning approved and
pending permits, as well as the few remaining permits required for the project to be shovel-ready. This is a wonderful
example of the possibilities that strategic infill development can create by involving public and private partnerships.
Investment highlights
- Local Preliminary Subdivision Approval.
- Local Final Subdivision Approval for the en7re development.
- Local Site Plan Approval, Phase 1.
- An electrical layout plan approved by Green Mountain Power, with ability to serve leWer (which is now due for renewal).
- Water alloca7on for Phase 1 from the Jericho Underhill Water Department.
- Although not needed for Phase 1, a VTrans 1111 Access Permit has been granted for access on Route 15 near the church from a different project.
- An “Authoriza7on To Construct” from the Water Supply Division, which allows the extension of the exis7ng water mains into the project for Phase 1.
- An approved hydrogeologic study from ANR for the proposed Phase 1 Sep7c System, approving site capacity.
- E911 Approval of the street names.
- Declara7on of Condominium for the mill building, if that becomes a condominium.
- Declara7on of Planned Community documents for Phase 1.
- There is an Opera7onal Stormwater Permit for the site, but it was for a project that was not built. Please see below for updated status.
Listing Contacts
Listed by VT Commercial
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
