19925 SCHAEFER Highway Detroit, MI 48235

Listing agent Erick Monzo Show Phone

Listing office Keller Williams Realty-Great Lakes j***@kw.com 28220 Harper, St. Clair Shores, MI Show Phone

Listing date Jun 16, 2023

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MLS# 20230048440 Listing URL

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Investment Insights

Based on property information with market context.

This vacant lot in Detroit, MI, offers an opportunity to build a new home. The property features a circular driveway and 68 frontage feet. It is located close to schools, parks, and the expressway. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development to increase housing supply and restore the urban fabric, density, and walkability. Interested buyers should consult the DLBA's proposal guidelines for new build opportunities and review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional neighborhood context. The DLBA is entitled to a tax capture for the 5 tax years after transferring ownership. This tax capture may be incompatible with other available tax abatements. The 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 the effect of any tax abatement on the purchase and development financing. The lot size is 0.21 acres.

Key Highlights

• Large vacant lot suitable for building a new home.
• 68 feet of frontage.
• Circular driveway already in place.

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FAQs

What type of property is this?

Residential land & home lot - Large vacant lot suitable for building a dream home.

Where is this residential land & home lot located?

The property is located at 19925 SCHAEFER Highway Detroit, MI.

What is the asking price?

The asking price for this property is Off market.

What are key features of this property?

This property features: Large vacant lot suitable for building a new home.; 68 feet of frontage.; Circular driveway already in place.