North End Prime Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30625325
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail
Gross Land Area: 14,508 SF
Sale Price: $58,032
Unit Price: $4 PSF
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/26/2020

Overview / Comments

- Prime development opportunity in North End Neighborhood
- Zoned B4 & R3 making site ideal for mixed use development
* Please note that the Detroit Land Bank Authority (DLBA) is entitled to a
tax capture for the 5 tax years subsequent to transferring ownership of the
property. The tax capture may be incompatible with tax abatements and lot
combinations that are otherwise available to the selected purchaser. DLBA
will review requests to waive its tax capture rights and may require a
payment in lieu of taxes to approve such requests. The payment will be
determined upon reviewing the development proforma and effect of any tax
abatements on the purchase and development financing.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Taxing Authority: City of Detroit
Tax ID/APN: 03003016., 03001877.001, 03001877.002L, 03001878.
Zoning: B4/R3
Property Located Between: Oakland Ave. and St. Antoine
Legal Description: W OAKLAND S 55.50 FT OF LOTS 229-230 AND VAC CUSTER AVE ADJ WM Y HAMLIN & S J BROWNS L8 P72 PLATS, W C R 3/91 60.84 X 55.34A S BETHUNE E N 64.50 FT 229-230 WM Y HAMLIN & S J BROWNS L8 P72 PLATS, W C R 3/91 55.40 IRREG S BETHUNE E 231 AND VAC CUSTER AVE ADJ WM Y HAMLIN & S J BROWNS L8 P72 PLATS, W C R 3/91 30 X 125.34A S BETHUNE E 232 AND VAC CUSTER AVE ADJ WM Y HAMLIN & S J BROWNS L8 P72 PLATS, W C R 3/91 30 X 125.34A
Largest Nearby Street: Oakland Ave
Highway Access: I-75
Lot Frontage: 176
Lot Depth: 125
Zoning Description: General Business/Low Density Residential

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,167 163,627 435,721
Median Age: 37.21 36.35 34.98
Households: 5,460 67,396 165,218

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