Property profile

1401 Seward Ave Detroit, MI 48206

OFF-MARKET
Land
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Property summary

AI-generated overview

This 18,496 square foot lot in Detroit, Michigan (APN 06001732), is zoned R3, permitting single-family, townhome, duplex, and multifamily residential development (conditional use for multifamily exceeding 50% studio units). The property benefits from its location within the revitalizing Virginia Park neighborhood, proximate to a significant $3 billion healthcare development encompassing new Henry Ford Hospital facilities, a Michigan State University research center, and over 600 mixed-income housing units. Nearby recent developments include the 27-unit Merrill Place mixed-income housing project. Its strategic position offers easy access to major expressways (M-10, I-75, and I-94), and proximity to key employment centers in New Center, educational institutions (Wayne State University, College of Creative Studies), and numerous amenities. These include retail options (Orange Theory, McDonald's, KFC, Subway, Virginia Park Community Plaza), office buildings, cultural attractions (Motown Museum, Fisher Building), the Detroit Amtrak Station, and public services (Detroit Police Dept - 3rd Precinct, Detroit Library). The property also enjoys convenient access to the Q-Line light rail and several schools. This presents a compelling opportunity for residential development in a rapidly evolving area.

Property profile

Verified
Property type Land

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1401 Seward Ave Detroit, MI 48206
Detroit metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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