45 Euclid St Detroit, MI 48202-2209

Property Details for 45 Euclid St

Year built

1915

Lot size

0.12 lot acres

Zone code

R3

Property type

Commercial land

APN

01002536.

APU

1002536

Description

This exceptional commercial land offering encompasses a substantial 47,532 square-foot parcel located in Detroit's desirable North End neighborhood. The property, a bank-owned foreclosure, is comprised of multiple addresses along Euclid and Philadelphia Streets, specifically 45, 51, 57, 63, 71, and 77 E Euclid, and 78, 88, and 98 E Philadelphia. Currently zoned for commercial use, this prime real estate presents a unique opportunity for developers seeking to capitalize on the area's revitalization. The site's proximity to the New Detroit People's Food Co-op further enhances its appeal. The flexible zoning allows for a variety of development projects, including townhomes, duplexes, fourplexes, or multifamily buildings. While the Detroit Land Bank actively seeks proposals for these types of developments, potential buyers should be aware that a five-year tax capture is in place following ownership transfer. The Land Bank may consider waiving this tax capture, potentially requiring a payment in lieu of taxes, contingent upon a review of the development plan and any tax abatement impact. This property is being sold AS IS, WHERE IS. Interested parties should review all provided documentation thoroughly before submitting proposals. The asking price for this significant land parcel is $229,000.