Nine-Lot Land Development
For Sale
$130,000
571 East Edsel Ford Freeway, Detroit, MI 48202
Sale includes nine land lots identified by multiple Detroit-area street addresses, each available for new development planning.
Property SizeContact for details
Days on Market862
Property Features for 571 East Edsel Ford Freeway
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 4, 2024
Changed: Aug 8
Last Checked: Jul 20 at 11:37AM
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 offering is a new build land development opportunity that includes nine lots in the sale: 571 E. Edsel Ford Fwy, 587 Edsel. Ford Fwy, 581 E. Ford Fwy, 5923 St. Antoine, 590 Harper, 580 Harper, 574 Harper, 566 Harper, and 556 Harper. The public remarks indicate the building(s) should define space in a meaningful way and be designed to complement the community, with development intended to support a diverse residential mix.
The sale is subject to a tax capture arrangement described in the attached materials. The DLBA is entitled to a tax capture for the five tax years subsequent to transferring ownership. The tax capture may be incompatible with any tax abatement that may otherwise be available, and DLBA will review requests to waive its tax capture rights, potentially requiring a payment in lieu of taxes for approval. The amount would be determined based on the development pro forma and the effect of any tax abatement on purchase and development financing. See attached documents for additional details.
The sale is subject to a tax capture arrangement described in the attached materials. The DLBA is entitled to a tax capture for the five tax years subsequent to transferring ownership. The tax capture may be incompatible with any tax abatement that may otherwise be available, and DLBA will review requests to waive its tax capture rights, potentially requiring a payment in lieu of taxes for approval. The amount would be determined based on the development pro forma and the effect of any tax abatement on purchase and development financing. See attached documents for additional details.
Key Highlights
- Sale includes nine land lots for new development planning.
- Addresses included: 571 E. Edsel Ford Fwy, 587 Edsel. Ford Fwy, 581 E. Ford Fwy, 5923 St. Antoine, 590 Harper, 580 Harper, 574 Harper, 566 Harper, and 556 Harper.
- 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
1,509
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 - Sale includes nine land lots identified by multiple Detroit-area street addresses, each available for new development planning.
Where is this residential land & home lot located?
The property is located at 571 East Edsel Ford Freeway Detroit, MI.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Sale includes nine land lots for new development planning.; Addresses included: 571 E. Edsel Ford Fwy, 587 Edsel. Ford Fwy, 581 E. Ford Fwy, 5923 St. Antoine, 590 Harper, 580 Harper, 574 Harper, 566 Harper, and 556 Harper.; DLBA is entitled to tax capture for the 5 tax years after transferring ownership.
