For Sale
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Property summary
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
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
SD1 · Detroit, MIjacent 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)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for SD1 in Detroit, MI.
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