2480 SHERIDAN Street Detroit, MI 48214

Listing agency Bellabay Realty Tri Counties n***@comcast.net Show Phone

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Apr 17, 2024 Updated: May 13 at 3:31AM Checked: Jul 22 at 10:06PM

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MLS# 20240024972

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Investment Insights

Based on property information with market context.

This property presents a great infill opportunity within the West Village Neighborhood Enterprise Zone. The sale encompasses two parcels, specifically 2480 and 2486 Sheridan. Development on this land should define space in a meaningful way and complement the surrounding community. The building design should contribute to a diverse residential stock and density, offering a variety of prices, ownership types such as rental and ownership, and housing types. The intended densities should support opportunities for neighborhood commercial investments and job creation, stimulating growth in the local economy. It is important to note that the Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following the transfer of ownership. This tax capture may not be compatible with other tax abatements available to the purchaser. 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 amount 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 approximately 0.07 acres.

Key Highlights

• Infill opportunity in West Village Neighborhood Enterprise Zone (NEZ).
• Sale includes two parcels: 2480 & 2486 Sheridan.
• Opportunity to contribute to diverse residential stock and density.

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FAQs

What type of property is this?

Residential land & home lot - Infill opportunity in West Village Neighborhood Enterprise Zone.

Where is this residential land & home lot located?

The property is located at 2480 SHERIDAN Street 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: Infill opportunity in West Village Neighborhood Enterprise Zone (NEZ).; Sale includes two parcels: 2480 & 2486 Sheridan.; Opportunity to contribute to diverse residential stock and density.