Detroit Land Assemblage
For Sale
$35,000
5040 FERNWOOD Street, Detroit, MI 48204
LAND - Detroit, MI
Property SizeContact for details
Lot Size1.09 Acres
Days on Market805
Property Features for 5040 FERNWOOD Street
General Information
Property type
Land
Property subtype
Other
Zoning
Residential
Subdivision
JOHN TIREMANS SUB (PLATS)
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
Take Livernois headed south, pass Joy Rd. Make left onto Tireman. Then make a left onto Ironwood. This will turn into Fernwood.
Standard status
Active
APN
W16I003548C50
Lot size
1.09 Acres
Taxes and HOA fees
Tax Description
N FERNWOOD E 17.5 FT 131,130 & 129 JOHN TIREMANS SUB L32 P10 PLATS, WCR 16/168 87.5 X 120 (10500 SQ FT)
Legal Description
N FERNWOOD E 17.5 FT 131,130 & 129 JOHN TIREMANS SUB L32 P10 PLATS, WCR 16/168 87.5 X 120 (10500 SQ FT)
Utilities
Water source
Public
Listing Agency:
RCH Brokerage Legacy Inc
(248) 440-2268
Listed By:
Leonard A Pickett III · License #6501306589
(248) 440-2268
Added: Jun 11, 2024
Changed: Apr 16
Last Checked: Aug 24 at 2:06AM
MLS# 20240040769
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This land-based site, zoned R3, is a vacant lot sold as a package with the properties located at 5054, 5060, 5066, and 5074 Fernwood, Detroit, MI 48204. The combined area of the properties totals 47,720 square feet. The Detroit Land Bank Authority (DLBA) is seeking proposals to support the activation and stewardship of vacant land sites, including urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult the DLBA's proposal guidelines for land-based sites and the DLBA Guide to Plot Plan, Site Design, and Maintenance. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). 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 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.
Key Highlights
- Large 47,720 sqft combined lot size across four parcels.
- Zoned R3, offering various development possibilities.
- Opportunity to develop land‑based projects such as urban agriculture or gardening.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Large R3 zoned land package in Detroit, totaling 47,720 sqft.
Where is this residential land & home lot located?
The property is located at 5040 FERNWOOD Street Detroit, MI.
What is the asking price?
The asking price for this property is $35,000.
What are key features of this property?
This property features: Large 47,720 sqft combined lot size across four parcels.; Zoned R3, offering various development possibilities.; Opportunity to develop land‑based projects such as urban agriculture or gardening.
