5034 VERMONT 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 3:31AM Checked: Jul 23 at 5:06AM

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MLS# 20240024963

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Investment Insights

Based on property information with market context.

This residential land is located in a growing Detroit community, situated a few minutes from Downtown Detroit, Corktown, and major expressways I-75 and I-96. The lot, measuring 30x130, is zoned for residential and multifamily projects. Interested buyers should consult proposal guidelines for new build opportunities. It is recommended to review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. The DLBA 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 abatement that are otherwise available to the selected purchaser. 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 effect of any tax abatement on the purchase and development financing. The lot size is 0.09 acres.

Key Highlights

• Prime location near Downtown Detroit, Corktown, and major expressways I‑75 and I‑96.
• Zoned for both Residential and Multifamily projects.
• Located in a growing and vibrant community.

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FAQs

What type of property is this?

Residential land & home lot - Land in vibrant Detroit community, near downtown and expressways.

Where is this residential land & home lot located?

The property is located at 5034 VERMONT Street Detroit, MI.

What is the asking price?

The asking price for this property is $54,500.

What are key features of this property?

This property features: Prime location near Downtown Detroit, Corktown, and major expressways I‑75 and I‑96.; Zoned for both Residential and Multifamily projects.; Located in a growing and vibrant community.