3560 16TH Street Detroit, MI 48208

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 3:30AM Checked: Jul 22 at 3:06PM

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MLS# 20240024998

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Investment Insights

Based on property information with market context.

This residential land offers a build opportunity within walking distance of Detroit's Corktown, a social district, and the renovated Ford train station. The property is located in an area with newer homes and rising property values. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development, with the aim of increasing housing supply, restoring the urban fabric, and enhancing density and walkability. Interested buyers are advised to 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 lot size is 0.1 acres. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements that are otherwise available to the selected purchaser. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing.

Key Highlights

• Prime location within walking distance of Detroit's Corktown, social district, and the Ford train station.
• Great build opportunity in an area with rising property values.
• DLBA seeking proposals for small- to medium‑scale infill development to increase housing supply.

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FAQs

What type of property is this?

Residential land & home lot - Land near Corktown, ideal for residential development.

Where is this residential land & home lot located?

The property is located at 3560 16TH 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: Prime location within walking distance of Detroit's Corktown, social district, and the Ford train station.; Great build opportunity in an area with rising property values.; DLBA seeking proposals for small- to medium‑scale infill development to increase housing supply.