Infill Residential Development
For Sale
Contact for pricing
2480 Sheridan Street, Detroit, MI 48214
For-sale infill parcel in the West Village NEZ, with sale including 2480 and 2486 Sheridan Street.
Property SizeContact for details
Days on Market849
Property Features for 2480 Sheridan Street
General Information
Standard status
Active
Property subtype
Land
Listing Agency:
Bellabay Realty Tri Counties
(313) 204-0310
Listed By:
Natasha C Richards · License #6502385914
(313) 204-0310
Source:
Compass
Added: Apr 17, 2024
Changed: Aug 8
Last Checked: Jul 20 at 10:02PM
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 Bellabay Realty Tri Counties
Investment Insights
Based on property information with market context.
This for-sale infill residential development site is located in the West Village Neighborhood Enterprise Zone (NEZ). The sale includes 2480 and 2486 Sheridan Street. The provided remarks indicate that the development should define space in a meaningful way and be designed to complement the community, supporting a diverse residential stock and density.
The materials also describe a Neighborhood Enterprise Zone tax capture: the DLBA is entitled to tax capture for the five tax years subsequent to transferring ownership. The tax capture may be incompatible with tax abatement otherwise available to the purchaser. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests, with the payment amount determined through review of the development proforma and the effect of any tax abatement on purchase and development financing.
Overall, this is a single infill site offering prospective development with specific NEZ-related requirements and tax capture considerations outlined in the transaction materials.
The materials also describe a Neighborhood Enterprise Zone tax capture: the DLBA is entitled to tax capture for the five tax years subsequent to transferring ownership. The tax capture may be incompatible with tax abatement otherwise available to the purchaser. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests, with the payment amount determined through review of the development proforma and the effect of any tax abatement on purchase and development financing.
Overall, this is a single infill site offering prospective development with specific NEZ-related requirements and tax capture considerations outlined in the transaction materials.
Key Highlights
- Infill for‑sale parcel in the West Village Neighborhood Enterprise Zone (NEZ)
- Sale includes 2480 and 2486 Sheridan Street
- DLBA is entitled to tax capture for the 5 tax years after transferring ownership
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential land & home lot - For-sale infill parcel in the West Village NEZ, with sale including 2480 and 2486 Sheridan Street.
Where is this residential land & home lot located?
The property is located at 2480 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: Infill for‑sale parcel in the West Village Neighborhood Enterprise Zone (NEZ); Sale includes 2480 and 2486 Sheridan Street; DLBA is entitled to tax capture for the 5 tax years after transferring ownership
