978 East Cross St Ypsilanti, MI 48198
3.31 acres of vacant land in a Qualified Opportunity Zone.
Property size:
3 SFLot size:
3.31 AcresProperty Features for 978 East Cross St
General Information
- Size
- 3 SF
- Lot size
- 3.31 Acres
Source:
Svn
Listing Agent: Dan Stewart
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Vacant Land in Opportunity Zone
This 3.31-acre parcel of vacant land is situated in a Qualified Opportunity Zone (QOZ), designed to encourage economic development through tax benefits for investors. The location is between East Cross Street and East Michigan Avenue, approximately 2.5 miles from I-94 and US 12, providing accessibility to neighboring cities. The property is within walking distance of historic Depot Town, close to two universities, and eight miles from downtown Ann Arbor. It is also less than 6 miles from U of M Hospital and St. Joseph Mercy Hospital. The current zoning allows for a density of up to 20 units, presenting a development opportunity for multi-family or assisted living facilities. Eastern Michigan University is two miles east, and the University of Michigan is only 10 miles west, indicating a substantial student population in the area. By 2020, the population aged 65 years or older is projected to reach 18,271, representing 15.6% of the population, suggesting a need for housing or care facilities. The property may be combined with an adjacent 6.59-acre parcel at 915 E. Michigan Ave, potentially creating a 9.9-acre parcel, subject to compliance with Ypsilanti Township Zoning Ordinance and the Michigan Plat Act.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Ypsilanti
- County
- Washtenaw
- State
- Michigan
- Longitude
- -83.6289151
- Latitude
- 42.2457569
Nearby Similar for Sale
FAQs
What type of property is this?
Land - 3.31 acres of vacant land in a Qualified Opportunity Zone.
Where is this land located?
The property is located at 978 East Cross St Ypsilanti, MI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: - Located in a Qualified Opportunity Zone (QOZ) offering significant tax benefits.; - Zoning allows for high-density development, up to 20 units.; - Proximity to Eastern Michigan University (2 miles) and the University of Michigan (10 miles) caters to student housing demand.