503 LAKEWOOD Street Detroit, MI 48215
- Added:
- Jun 24, 2024
- Days on Market:
- 666
- Last Refresh:
- Apr 11 at 9:05 pm
Property Features for 503 LAKEWOOD Street
General Information
- Standard status
- Active
- Property subtype
- Lots/Land
Listing agent Leonard A Pickett III License #6501306589 (248) 440-2268
Listing office RCH Brokerage Legacy Inc (248) 440-2268
Listing date Jun 24, 2024
Source Exitrealty
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
Overview
Land in Jefferson Chalmers NEZ
This property presents an opportunity for infill building within the Jefferson Chalmers Neighborhood Enterprise Zone (NEZ). Prospective buyers are required to submit an application that includes construction plans or precedent agriculture images illustrating the proposed development, along with a financing plan supported by proof of funds or a pre-approval letter for a new construction loan. The property's location offers convenient access to the Q-Line and the New Center Area. Note that the Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following the property's ownership transfer. This tax capture might not be compatible with other tax abatements available to the purchaser. The DLBA will consider requests to waive its tax capture rights, potentially requiring a payment in lieu of taxes for approval. The payment amount will be determined after reviewing the development proforma and the impact of any tax abatement on the purchase and development financing. Refer to the attached documents for detailed DLBA requirements and offer submission information.
Location Intelligence
Current Use by Public Records
Land
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -82.942351
- Latitude
- 42.3665099
Nearby Similar for Sale
FAQs
What type of property is this?
Land - Infill building opportunity in Detroit's Jefferson Chalmers NEZ site.
Where is this land located?
The property is located at 503 LAKEWOOD 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: Infill building opportunity in Jefferson Chalmers NEZ site.; Walking distance to the Q‑Line and New Center Area.; Suitable for construction or agriculture development.
