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    2611 Wabash St Detroit, MI 48216

    Sponsored
    For Sale
    $150,000

    Prime Detroit residential lot, 5961 sq ft.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 5,961 square foot residential lot presents a remarkable development opportunity in Detroit's burgeoning North Corktown neighborhood. Located at 2611 Wabash Street, this rectangular parcel (approximately 42 feet by 141 feet) is ideally situated due west of Oakland Housing's recently completed North Corktown development, offering immediate proximity to new construction and the area's revitalization efforts. The property is zoned R3, providing flexibility for various residential development projects. Its substantial size allows for significant building potential, making it an attractive investment for builders and developers seeking to capitalize on the growing demand for housing in this rapidly transforming area of Detroit. The address is 2611 Wabash Street, Detroit, Michigan, 48216, within Wayne County. The asking price for this prime development land is $150,000. This represents a unique chance to participate in the ongoing revitalization of North Corktown and secure a valuable asset in a highly sought-after location. The lot's dimensions and location offer exceptional potential for a high-return residential development.

    Property Features for 2611 Wabash St

    General Information

    Property type
    Land

    HighLights

    • $150,000 asking price.
    • Residential land in Detroit, MI.
    • 5,961 square foot lot.
    • Located in North Corktown, near new Oakland Housing development.
    • R3 zoning.
    • Rectangular lot (42' x 141').
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -83.0765476
    Latitude
    42.3335827

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    FAQs

    What type of property is this?
    Land - Prime Detroit residential lot, 5961 sq ft.
    Where is this land located?
    The property is located at 2611 Wabash St Detroit, MI.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: $150,000 asking price.; Residential land in Detroit, MI.; 5,961 square foot lot.
    (248) 619-4948
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    2611 Wabash St Detroit, MI 48216
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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
    2611 Wabash St Detroit, MI 48216
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