Three-Lot Residential Land
For Sale
Contact for pricing
2939 Sheridan Street, Detroit, MI 48214
Bundle of three residential lots offered for purchase together through the Detroit Land Bank Authority.
Property SizeContact for details
Days on Market823
Property Features for 2939 Sheridan Street
General Information
Standard status
Active
Property subtype
Land
Listing Agency:
Keller Williams Realty-Great Lakes
(586) 808-6436
Listed By:
Erick Monzo · License #6501330189
(586) 808-6436
Source:
Compass
Added: May 13, 2024
Changed: Aug 8
Last Checked: Jul 16 at 6:58AM
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 Keller Williams Realty-Great Lakes
Investment Insights
Based on property information with market context.
This offering is a residential land bundle that must be purchased together, consisting of 2939 Sheridan, 2945 Sheridan, and 2951 Sheridan. The property is being presented by the Detroit Land Bank Authority, and the listing is structured as a combined acquisition rather than individual lot sales.
The parcel bundle is located at Kercheval Avenue and E Grand Blvd in Detroit’s Islandview neighborhood. The remarks indicate the site is approximately 7 minutes from Eastern Market and a short distance to Downtown Detroit. The Detroit Land Bank Authority also notes area investment activity, including City of Detroit investments of over $5 million aimed at improving the neighborhood, plus nearby improvements referenced in the remarks such as New Butzel Playfield and Marcus Garvey Academy.
For buyers and developers, this package provides a consolidated option to acquire multiple residential lots through the DLBA. The remarks also include an important tax condition: the DLBA is entitled to a tax capture for five tax years subsequent to transferring ownership. The 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 proforma and the effect of any tax abatement on financing.
The parcel bundle is located at Kercheval Avenue and E Grand Blvd in Detroit’s Islandview neighborhood. The remarks indicate the site is approximately 7 minutes from Eastern Market and a short distance to Downtown Detroit. The Detroit Land Bank Authority also notes area investment activity, including City of Detroit investments of over $5 million aimed at improving the neighborhood, plus nearby improvements referenced in the remarks such as New Butzel Playfield and Marcus Garvey Academy.
For buyers and developers, this package provides a consolidated option to acquire multiple residential lots through the DLBA. The remarks also include an important tax condition: the DLBA is entitled to a tax capture for five tax years subsequent to transferring ownership. The 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 proforma and the effect of any tax abatement on financing.
Key Highlights
- Bundle includes three residential lots: 2939 Sheridan, 2945 Sheridan, and 2951 Sheridan
- Offered through the Detroit Land Bank Authority with a total listing price of $20,000
- DLBA property location noted near Kercheval Avenue and E Grand Blvd in the Islandview neighborhood
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
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Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Bundle of three residential lots offered for purchase together through the Detroit Land Bank Authority.
Where is this residential land & home lot located?
The property is located at 2939 Sheridan 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: Bundle includes three residential lots: 2939 Sheridan, 2945 Sheridan, and 2951 Sheridan; Offered through the Detroit Land Bank Authority with a total listing price of $20,000; DLBA property location noted near Kercheval Avenue and E Grand Blvd in the Islandview neighborhood
