Vacant Residential Land
For Sale
Contact for pricing
1508 Gray Street, Detroit, MI 48215
Sold only as part of a five-lot bundle, requiring full rehab or redevelopment planning and financing proof.
Property SizeContact for details
Lot Size0.46 Acres
Days on Market459
Property Features for 1508 Gray Street
General Information
Standard status
Active
Lot size
0.46 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: May 11, 2025
Changed: Aug 8
Last Checked: Jul 16 at 2:48AM
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 listing is for a vacant residential land lot that is sold only as part of a bundle with four additional vacant lots (1528, 1514, 1522 Gray, and 12905 Brooks). The parcels are not offered separately and must be purchased together.
The property requires full rehab or redevelopment. Buyers are required to submit a proposal to purchase that includes detailed rehab plans and a financing plan supported by proof of funds or a pre-approval letter, or by terms for a new construction loan. The submission should also include plans for the vacant lots with sketches and financing.
Please note the Detroit Land Bank Authority is entitled to tax capture for the five tax years following transfer of ownership. Tax capture may be incompatible with certain tax abatements available to the selected purchaser, and DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes based on the development proforma.
The property requires full rehab or redevelopment. Buyers are required to submit a proposal to purchase that includes detailed rehab plans and a financing plan supported by proof of funds or a pre-approval letter, or by terms for a new construction loan. The submission should also include plans for the vacant lots with sketches and financing.
Please note the Detroit Land Bank Authority is entitled to tax capture for the five tax years following transfer of ownership. Tax capture may be incompatible with certain tax abatements available to the selected purchaser, and DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes based on the development proforma.
Key Highlights
- Sold only as part of a five‑lot bundle including vacant lots 1528, 1514, 1522 Gray and 12905 Brooks
- Bundle totals 20,128 sqft and is not sold separately; all lots sold together for $30,000
- Property needs full rehab or redevelopment planning
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Explore this area
Business Placement
Demographics for 48215, MI
10,520
Population
6,044
Households
1.7
Avg Household Size
41
Median Age
19%
College-Educated
85%
High-School Grad
3.9 sq mi
ZIP Area
2,697
Density / Sq Mi
$33,741
Median Household Income
$36,728
Median Earnings
$897
Median Rent
$105,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Sold only as part of a five-lot bundle, requiring full rehab or redevelopment planning and financing proof.
Where is this residential land & home lot located?
The property is located at 1508 Gray 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: Sold only as part of a five‑lot bundle including vacant lots 1528, 1514, 1522 Gray and 12905 Brooks; Bundle totals 20,128 sqft and is not sold separately; all lots sold together for $30,000; Property needs full rehab or redevelopment planning
