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$75,000
Est. payment /mo
0.42 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261028035
Annual Tax Amount $1
Lot Size 0.420 Acres
Acres 0.42
Lot Dimensions 160X114.84
Source Realcomp
Property Description
Development opportunity in prime area offering endless potential in a rapidly developing residential area. Located a few minutes from Motown Museum and Henry Ford Hospital. This vacant parcel is owned by the Detroit Land Bank Authority (DLBA) through its Marketed Property Program. The property offers an opportunity for new construction and infill development, subject to zoning and City approvals. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.
Location
State MI
County Wayne
Zoning Residential
Direction South of West Grand Blvd
Exterior
View Y/N No
Schools
School District Detroit
Others
Tax ID W08I008026C30
Acceptable Financing Cash
Listing Terms Cash
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Listed by Next Level Realty & Investments
NEARBY SCHOOLS & PROPERTIES
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