Infill Development Land Parcel
For Sale
$35,000
5122 Wabash Street, Detroit, MI 48208
Vacant land offered as a bundled package of seven lots with shared ownership requirements.
Property SizeContact for details
Days on Market1240
Property Features for 5122 Wabash Street
General Information
Standard status
Active
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: Mar 23, 2023
Changed: Aug 8
Last Checked: Jul 20 at 11:45AM
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 vacant land parcel is offered as part of a bundled package that includes 5108, 5118, 5130, 5142 Wabash, and 2040 and 2038 Putnam, for a total of seven lots. The lots are not sold separately, and the combined offering totals 20,984 square feet.
The Detroit Land Bank Authority seeks proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, including density and walkability goals. Buyers are directed to review the DLBA’s proposal guidelines for new build opportunities and to consult relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional neighborhood context.
Please note the DLBA is entitled to a tax capture for the five tax years following transfer of ownership. The tax capture may be incompatible with other tax abatement opportunities. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, based on the development proforma and the effect of any tax abatement on purchase and development financing.
The Detroit Land Bank Authority seeks proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, including density and walkability goals. Buyers are directed to review the DLBA’s proposal guidelines for new build opportunities and to consult relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional neighborhood context.
Please note the DLBA is entitled to a tax capture for the five tax years following transfer of ownership. The tax capture may be incompatible with other tax abatement opportunities. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, based on the development proforma and the effect of any tax abatement on purchase and development financing.
Key Highlights
- Vacant land sold as a bundled package of 7 lots: 5108, 5118, 5130, 5142 Wabash and 2040, 2038 Putnam.
- Total land area across the 7 lots: 20,984 sqft.
- Lots are not sold separately and are offered with shared ownership requirements.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 48208, MI
8,090
Population
5,226
Households
1.5
Avg Household Size
37
Median Age
27%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
2,528
Density / Sq Mi
$29,742
Median Household Income
$39,526
Median Earnings
$842
Median Rent
$186,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant land offered as a bundled package of seven lots with shared ownership requirements.
Where is this residential land & home lot located?
The property is located at 5122 Wabash Street Detroit, MI.
What is the asking price?
The asking price for this property is $35,000.
What are key features of this property?
This property features: Vacant land sold as a bundled package of 7 lots: 5108, 5118, 5130, 5142 Wabash and 2040, 2038 Putnam.; Total land area across the 7 lots: 20,984 sqft.; Lots are not sold separately and are offered with shared ownership requirements.
