Confidential Mack Avenue-Indian Village Development

Undisclosed Address, Detroit, MI 48214
Special Purpose for Sale
Catylist Listing ID: 30622373
Building Size (RSF): 26,000 SF
Gross Land Area: 1.50 Acres
Sale Price: See Agent
Ceiling: 16 ft.
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 6/19/2020

Overview / Comments

Former medical clinic and large parking lot on Mack Avenue located along the Indian Village border.  The site is just over 1.5 acres, and includes an approximately 26,000 sf. brick building.  This is the only property that will be available for re-development in Indian Village. The existing building’s structure is salvageable, with the option of expanding both vertically and laterally for purposes of a potential for mixed-use redevelopment. Please contact agent for link to site plans.

With the new FCA Detroit Facility coming on line soon, there will be more demand for housing and other amenities in this area that is only 2 miles away.

This site is prime for developing into a destination, and has the added advantage of being located in an Opportunity Zone.

The owner is open to potential joint venture opportunities, which may support a more diverse capital stack; ground lease; or outright sale of the property.

Additional Details

Taxing Authority: City of Detroit
Tax ID/APN: 17000281.003L
Zoning: B-2/R-1
Property Visibility: Excellent
Largest Nearby Street: Mack Avenue
Feet of Frontage: 382
Traffic/Vehicle Count: 9,594
Highway Access: Easy access to I-94 and 75.
Airports: City Airport is only 3.6 Miles; Detroit Metro is 22 miles;
Site Description: This location is surrounded to the north by Pingree Park; to the south by Indian Village; to the west by West Village and Islandview; and to the east by East Village. Property is well situated in terms of traffic exposure, and two corner access points. Property is in Indian Village, which has very little retail opportunities. Opportunity Zone. Parking is available, which creates added value. Mixed use will easily be supported in this area. Sound structure located on property to be leveraged. Presents many opportunities for redevelopment.
Area Description: The area of Indian Village is thriving. Also close to the up and coming West Village area, East Village, Island View and Pingree Park.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 13,000 SF
Property Condition: Fair
Year Built: 1971
Construction/Siding: Brick
Exterior Description: The exterior is in good shape, but needs new roof.
Parking Type: Surface
Interior Description: The interior has two levels with a full basement (garden windows) Building will require a complete rehab. Some of the infrastructure is salvageable. Building needs a new roof.
Zoning Description: According to the Detroit Economic Growth Corporation, this property would be most easily rezoned B-4.  Most of the Mack Avenue corridor is B-4.  Additionally, this property is located in an Opportunity Zone.  The property was referred to our office for marketing by the city of Detroit Mayor's office, who is very focused on creating a vibrant commercial corridor in this area.  The property is in Indian Village, and as such, is in a Designated Historic District. Please see the link below and documents attached. https://detroitmi.gov/departments/planning-and-development-department/zoning-innovation-and-historic-preservation/historic-district-commission-information/making-exterior-changes-within
Lot Frontage: 382'
Lot Depth: See parcel map.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee
Legal Description: Two Lots: S MACK 74 THRU 77 ASSESSORS PLAT OF PT OF P CS 27 & 180 Liber 66, Page 56 PLATS, Wayne County Records. S MACK 78 ASSESSORS PLAT OF PT OF P CS 27 & 180 Liber 66, Page 56 PLATS, Wayne County Records.

Contact

© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.