3939 3 Ave Detroit, MI 48201
- Mixed-use properties
- 0.09 lot acres
Current Use by Public Records
- Mixed-use properties
Property Details for 3939 3 Ave
- Lot size
- 0.09 lot acres
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
This exceptional 0.09-acre mixed-use lot, located at 3939 3rd Ave in Detroit, Michigan (Wayne County, zip code 48201), presents a unique investment opportunity. Currently listed at $325,000 (APN 04-003544), this property boasts approved variances for the construction of a five-story building. Detailed plans, already approved and permitted, are included in the sale, outlining a proposed 16-unit residential building with ground-floor retail space. This strategic location places the property in the heart of Midtown Detroit, a vibrant and rapidly developing area. The property further benefits from the availability of New Enterprise Zone (NEZ) tax abatements for a period of 15 years, significantly reducing the tax burden and enhancing the return on investment. This is a turnkey opportunity for developers seeking to capitalize on the growing demand for residential and commercial space in a highly desirable Detroit neighborhood. The property's central location and the inclusion of pre-approved plans minimize development hurdles and accelerate the path to profitability. Don't miss this chance to acquire a prime piece of Detroit real estate with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0674
- Latitude
- 42.3472
