13131 East Warren Avenue Detroit, MI 48213

Listing agency RCH Brokerage Legacy Inc l***@rchlegacy.com Show Phone

Listed by Leonard A Pickett · License #6501306589 Show Phone

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Added: Jan 26, 2022 Updated: Jul 22 at 2:42AM Checked: Jul 22 at 2:42AM

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Investment Insights

Based on property information with market context.

This is a vacant commercial land parcel offered for sale through the Detroit Land Bank Authority, with development proposals being considered for parking, a new build commercial project, or greenspace. Interested parties should review the attached DLBA requirements provided with the offering.

The DLBA indicates it is entitled to a tax capture for the five tax years following transfer of ownership. That tax capture may be incompatible with certain tax abatements that could otherwise be available to the selected purchaser, and the DLBA will review requests to waive its tax capture rights, which may require a payment in lieu of taxes. The payment amount would be determined based on the development proforma and the effect of any tax abatement on purchase and development financing. BATVAI.

Key Highlights

• Vacant commercial property with development proposals being considered
• DLBA will consider proposals for parking, new build commercial, or greenspace
• Detroit Land Bank Authority is entitled to tax capture for 5 tax years after ownership transfer

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FAQs

What type of property is this?

Commercial land - Vacant commercial land is being offered with development proposals considered for parking, new build, or greenspace.

Where is this commercial land located?

The property is located at 13131 East Warren Avenue 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: Vacant commercial property with development proposals being considered; DLBA will consider proposals for parking, new build commercial, or greenspace; Detroit Land Bank Authority is entitled to tax capture for 5 tax years after ownership transfer