Description
New build opportunity on a prime vacant lot near the Rosa Parks Boulevard and Grand Boulevard corridor. Located near the Motown Museum and the expanding Henry Ford Health System campus, this parcel presents an excellent infill development opportunity. Sale includes 7427 & 7435 Churchill. 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.
Details
| MLS # | 60962027 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 298 |
| Listing Provided By | Next Level Realty & Investments | Catina Willis |
Features
| Zoning | Multi-Family,Residential |
|---|---|
| Acreage | 0.12 |
Other
| List Aor | Real Comp |
|---|
Area Information
| State | MI |
|---|---|
| County | Wayne |
| City | Detroit |
| Zip Code | 48206 |
| Area | Detroit (82001) |
| Community Name | Lothrop & Duffield Blvd Park Sub |
| Listing VS Median (in Lothrop & Duffield Blvd Park Sub) | |
Price: $25,000 low | high Med: $254,900 On site: 298 low | high Med: 89 | |
Market Activity 48206
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Learn More About This Property
| State | MI |
|---|---|
| County | Wayne |
| City | Detroit |
| Zip Code | 48206 |
| Area | Detroit (82001) |
| Community Name | Lothrop & Duffield Blvd Park Sub |
| Listing VS Median (in Lothrop & Duffield Blvd Park Sub) | |
Price: $25,000 low | high Med: $254,900 On site: 298 low | high Med: 89 | |