Property profile

2138 Hendricks St Detroit, MI 48207

FOR SALE
Commercial land
Property ID
US43-0893382
0.07 ac lot
Entity Owned 11-yr Hold Free & Clear
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Property summary

AI-generated overview

The property consists of vacant land in Detroit, Michigan, intended for infill housing development. The lot area totals 6,138 square feet (approximately 0.07 acres) and is bundled with the adjacent address 2142 Hendricks. The purchase process requires submission of an application and supporting documentation, including proposed construction plans or precedent architectural images and a financing plan with proof of funds, pre-approval, or a new construction loan. The Detroit Land Bank Authority (DLBA) is entitled to tax capture for five tax years following transfer of ownership, and this tax capture may not align with tax abatements that could otherwise apply to a purchaser; any potential waiver requests would be reviewed by the DLBA and could involve a payment in lieu of taxes determined based on the development pro forma and the impact of any tax abatement on project financing.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.07 ac (3,049 SF)
Zoning code SD1
APN 09001237.
UPID US43-0893382

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

2138 Hendricks St Detroit, MI 48207
Detroit metro Census 516800 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request

Owner & transaction history

since 2015
1 recorded transaction
2015
Price N/A

Zoning & alternative use

SD1 · Detroit, MI
Zoning description

jacent District (Restricted Central Business District). (5) TM Transitional-Industrial District. (6) PR Parks and Recreation District. (7) W1 Waterfront-Industrial District. (8) MKT Market and Distribution District. (9)…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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