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    5203 16Th St Detroit, MI 48208

    Sponsored
    For Sale
    $30,000

    0.28-acre R2 zoned lot, build 1-2 family homes.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 0.28-acre vacant land parcel presents a remarkable opportunity for residential development in Detroit, Michigan. Located at 5203 16th Street, this corner lot is zoned R2, permitting the construction of one or two-family dwellings. Its prime location offers unparalleled convenience, situated just 600 feet from Grand River Avenue and a mere 0.3 miles from the I-94 freeway, ensuring effortless commutes and access to major thoroughfares. The property benefits from its proximity to the CHN and Cinnaire Housing community development initiatives, suggesting a vibrant and growing neighborhood. The asking price is $30,000, and all offers are being considered. This is an ideal investment for builders or developers seeking to capitalize on the burgeoning Detroit real estate market. The lot's size and zoning regulations provide flexibility for various residential projects, catering to diverse housing needs. The strategic location near key transportation arteries and community development projects further enhances its appeal and potential for strong returns. Wayne County, MI zip code 48208.

    Property Features for 5203 16Th St

    General Information

    Property type
    Land
    Lot Size
    12,197 SF

    HighLights

    • 0.28‑acre vacant lot zoned R2, allowing for one- or two‑family dwellings.
    • Prime location, 600 feet from Grand River Avenue.
    • Less than 0.3 miles from I‑94 freeway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.090499023295
    Latitude
    42.350932049577

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    FAQs

    What type of property is this?
    Land - 0.28-acre R2 zoned lot, build 1-2 family homes.
    Where is this land located?
    The property is located at 5203 16Th St Detroit, MI.
    What is the asking price?
    The asking price for this property is $30,000.
    What are key features of this property?
    This property features: 0.28-acre vacant lot zoned R2, allowing for one- or two-family dwellings.; Prime location, 600 feet from Grand River Avenue.; Less than 0.3 miles from I-94 freeway.
    (313) 603-4266
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    5203 16Th St Detroit, MI 48208
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5203 16Th St Detroit, MI 48208
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