Corktown Development
For Sale
Contact for pricing
Pending
1547 Elm St, Detroit, MI 48216
Vacant land parcel in North Corktown, suitable for development.
Property SizeContact for details
Days on Market99
Property Features for 1547 Elm St
General Information
Standard status
Pending
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$2.00
Listing Agency:
Next Level Realty & Investments
(734) 506-0076
Listed By:
Catina Willis · License #6502416849
(734) 506-0076
Source:
Elliman
Added: May 20
Changed: Aug 8
Last Checked: Jul 25 at 5:59AM
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 Next Level Realty & Investments
Investment Insights
Based on property information with market context.
This vacant parcel presents a development opportunity in North Corktown, situated a few minutes from Motor City Casino. The Detroit Land Bank Authority (DLBA) owns the property through its Marketed Property Program. The site is suitable for new construction and infill development, contingent upon zoning regulations and City approvals. Prospective buyers are required to submit a comprehensive proposal package for DLBA approval, encompassing a project proposal, proof of funds, a site plan or concept drawing, and evidence of prior development experience. The sale is subject to the execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five tax years following the transfer of ownership. This provision may not be compatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing. The property includes 1547 and 1559 Elm. The location has a bike score of 94, indicating it is a biker's paradise, a walk score of 94, indicating it is a walker's paradise, and a transit score of 63, indicating good transit options.
Key Highlights
- Prime North Corktown location, minutes from Motor City Casino.
- Development opportunity for new construction and infill.
- High walk score (94): Walker's Paradise.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Vacant land parcel in North Corktown, suitable for development.
Where is this commercial land located?
The property is located at 1547 Elm St Detroit, MI.
What are key features of this property?
This property features: Prime North Corktown location, minutes from Motor City Casino.; Development opportunity for new construction and infill.; High walk score (94): Walker's Paradise.
