13430 FENKELL Street Detroit, MI 48227

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

Listed by Leonard A Pickett III · License #6501306589 Show Phone

Added: Oct 23, 2024 Updated: May 13 at 3:30AM Checked: Jul 21 at 7:06PM

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MLS# 20240080286

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Investment Insights

Based on property information with market context.

This property, located in Detroit, MI, is zoned B2. The Detroit Land Bank Authority (DLBA) is looking for proposals for small- to medium-scale infill development. The goal is to increase housing supply and restore the urban fabric, as well as density and walkability. Buyers should consult DLBA proposal guidelines for new build opportunities and review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional neighborhood context. All offers must be supported by Proof of Funds, where funds should meet or exceed development costs. The DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with other tax abatements. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. The lot size is 0.2 acres.

Key Highlights

• B2 zoning suitable for small- to medium‑scale infill development.
• Opportunity to increase housing supply and restore urban fabric.
• Goal of increasing density and walkability.

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FAQs

What type of property is this?

Commercial land - Land available in Detroit, suitable for residential development.

Where is this commercial land located?

The property is located at 13430 FENKELL 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: B2 zoning suitable for small- to medium‑scale infill development.; Opportunity to increase housing supply and restore urban fabric.; Goal of increasing density and walkability.