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$1,000,000
Est. payment /mo
17,424 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 17,424 sqft
Price per Sqft $57
Subdivision Bratshaws Sub Of N 1/2 Of Park Lt 42
MLS Listing ID 20261091270
Lot Size 8,712 Sqft
Acres 0.2
Property Sub-Type RealEstateOnly
Property Description
Toman & Co. presents 101 & 115 E. Palmer St (BOTH PARCELS ARE INCLUDED IN THIS LISTING)., a rare Midtown Detroit infill development opportunity consisting of two adjacent 0.20-acre parcels totaling approximately 0.40 acres.
The offering provides developers with the opportunity to acquire two individual development sites in one of Detroit's most established and active urban neighborhoods, immediately adjacent to the Wayne State University campus. A conceptual development illustrates 10 multifamily units per parcel, or approximately 20 units across the two lots, creating an attractive small-scale multifamily development opportunity in the heart of Midtown.
The two parcels may also provide an alternative opportunity for structured parking or other complementary development, subject to zoning, site-plan review and applicable City of Detroit approvals.
A nearby development precedent further supports the site's potential. 73 E. Palmer St., a separate 0.20-acre parcel, is currently improved with 10 multifamily units, providing a useful example of the density achievable on a parcel of similar size. 73 E. Palmer is not included in this offering. BTVAI
The offering provides developers with the opportunity to acquire two individual development sites in one of Detroit's most established and active urban neighborhoods, immediately adjacent to the Wayne State University campus. A conceptual development illustrates 10 multifamily units per parcel, or approximately 20 units across the two lots, creating an attractive small-scale multifamily development opportunity in the heart of Midtown.
The two parcels may also provide an alternative opportunity for structured parking or other complementary development, subject to zoning, site-plan review and applicable City of Detroit approvals.
A nearby development precedent further supports the site's potential. 73 E. Palmer St., a separate 0.20-acre parcel, is currently improved with 10 multifamily units, providing a useful example of the density achievable on a parcel of similar size. 73 E. Palmer is not included in this offering. BTVAI
Location
State MI
County Wayne
Area Area05043Detlivernoisi756Gdriver
Interior
Fireplace No
Exterior
Fence Fenced
View Y/N No
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water WateratStreet
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Vincent Harness of Toman & Co LLC
NEARBY SCHOOLS & PROPERTIES
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