Infill Development Land
For Sale
Contact for pricing
259 Mt Vernon Street, Detroit, MI 48202
Residential land parcel sold as a bundle of four lots for infill development.
Property SizeContact for details
Lot Size0.30 Acres
Days on Market1209
Property Features for 259 Mt Vernon Street
General Information
Standard status
Active
Lot size
0.30 Acres
Property subtype
Land
Listing Agency:
RCH Brokerage Legacy Inc
(313) 510-7887
Listed By:
Leonard A Pickett · License #6501306589
(313) 510-7887
Source:
Compass
Added: Apr 23, 2023
Changed: Aug 8
Last Checked: Jul 20 at 1:26PM
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 RCH Brokerage Legacy Inc
Investment Insights
Based on property information with market context.
This offering includes a residential land parcel sold as a bundle of four, including 249 Mt Vernon, 253 Mt Vernon, and 265 Mt Vernon, for a combined total of 13,211 square feet. The lots are not sold separately.
The property is located in Detroit’s North End neighborhood and is described as within walking distance to the Q-Line and the New Center area. It is also noted to be in close proximity to Wayne State University and Henry Ford Hospital.
Buyers should note the Detroit Land Bank Authority’s entitlement to a tax capture for the five tax years following transfer of ownership. The Detroit Land Bank Authority may review requests to waive tax capture rights and could require a payment in lieu of taxes, based on the development pro forma and the effect of any tax abatement on purchase and development financing. Batvai, and please see attached documents for DLBA guidelines.
The property is located in Detroit’s North End neighborhood and is described as within walking distance to the Q-Line and the New Center area. It is also noted to be in close proximity to Wayne State University and Henry Ford Hospital.
Buyers should note the Detroit Land Bank Authority’s entitlement to a tax capture for the five tax years following transfer of ownership. The Detroit Land Bank Authority may review requests to waive tax capture rights and could require a payment in lieu of taxes, based on the development pro forma and the effect of any tax abatement on purchase and development financing. Batvai, and please see attached documents for DLBA guidelines.
Key Highlights
- Residential land sold as a bundle of 4 lots for infill development in Detroit’s North End neighborhood
- Bundle includes 249 Mt Vernon, 253 Mt Vernon, and 265 Mt Vernon (totaling 13,211 sqft)
- Not sold separately
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Residential land parcel sold as a bundle of four lots for infill development.
Where is this residential land & home lot located?
The property is located at 259 Mt Vernon 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: Residential land sold as a bundle of 4 lots for infill development in Detroit’s North End neighborhood; Bundle includes 249 Mt Vernon, 253 Mt Vernon, and 265 Mt Vernon (totaling 13,211 sqft); Not sold separately
