Prime New Center Residential Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30523453
Property Subtypes: Multi-Family, Retail
Gross Land Area: 0.75 Acres
Sale Price: $360,000
Unit Price: $480,000 Per Acre
In Opportunity Zone? Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/15/2019

Overview / Comments

In partnership with the Detroit Building Authority, (“DBA”), the City of Detroit’s Housing and Revitalization Department (“HRD”) and Planning and Development Department (“PDD”) seek a developer for approximately 0.75 acres of vacant land at the southwest corner of Virginia Park and 3rd Street at 801 Virginia Park.

• October 30th, 2019: Marketing open
• 5:00 P.M. EST on January 24, 2020: Response deadline

Please view attached Marketing Package for more information.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit - New Center
Taxing Authority: City of Detroit
Tax ID/APN: 04001880-3
Zoning: R3
Property Located Between: John C. Lodge Service drive and Third St.
Legal Description: S VIRGINIA PARK 62 THRU 59 PEERLESS ADD NO 3 L18 P40 PLATS, W C R 4/80 200 X 163
Largest Nearby Street: Virginia Park
Feet of Frontage: 200
Highway Access: M-10, I-75
Lot Frontage: 200
Lot Depth: 163
Zoning Description: Low Density Residential

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,580 180,282 468,008
Median Age: 38.92 35.6 35.03
Households: 8,288 72,897 176,723

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