Vacant Residential Lot
For Sale
Contact for pricing
1231 24TH St, Detroit, MI 48216
Vacant land offering from the Detroit Land Bank Authority in Mexicantown with access to nearby expressways.
Property SizeContact for details
Days on Market28
Property Features for 1231 24TH St
General Information
Standard status
Active
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$40
Listing Agency:
SCS Great Lakes INC
(586) 210-3350
Listed By:
Erick Monzo
(586) 210-3350
Source:
Elliman
Added: Jul 16
Changed: Aug 8
Last Checked: Jul 16 at 5:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SCS Great Lakes INC
Investment Insights
Based on property information with market context.
This offering is a vacant residential land lot from the Detroit Land Bank Authority. The property is being marketed with guidance regarding DLBA tax capture rights following the transfer of ownership.
The lot is located in Mexicantown and is described as conveniently positioned near expressways for commuting to work or downtown.
Prospective purchasers should note that DLBA is entitled to a tax capture for the five tax years subsequent to transferring ownership. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, with the amount determined after reviewing the development pro forma and the effect of any tax abatement on purchase and development financing.
The lot is located in Mexicantown and is described as conveniently positioned near expressways for commuting to work or downtown.
Prospective purchasers should note that DLBA is entitled to a tax capture for the five tax years subsequent to transferring ownership. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, with the amount determined after reviewing the development pro forma and the effect of any tax abatement on purchase and development financing.
Key Highlights
- Vacant land offering from the Detroit Land Bank Authority (DLBA) in Mexicantown
- Conveniently located near expressways for commuting to work or downtown
- DLBA is entitled to a tax capture for the 5 tax years after ownership transfer
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant land offering from the Detroit Land Bank Authority in Mexicantown with access to nearby expressways.
Where is this residential land & home lot located?
The property is located at 1231 24TH St 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: Vacant land offering from the Detroit Land Bank Authority (DLBA) in Mexicantown; Conveniently located near expressways for commuting to work or downtown; DLBA is entitled to a tax capture for the 5 tax years after ownership transfer
