Property profile

5930 Hastings St Detroit, MI 48211

OFF-MARKET
Industrial land
Property ID
US43-1204682
0.72 ac lot
Individually Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 0.72-acre development opportunity is located at 5930 Hastings St, Detroit, MI 48211, in the thriving Medbury Park and Milwaukee Junction neighborhoods. Zoned M3, this vacant site offers 31,380 square feet and boasts 202 feet of frontage on Harper Street, ensuring high visibility and accessibility. Its prime location near the I-75/I-94 interchange provides easy access to major transportation routes. The property is less than three miles from downtown Detroit and minutes from Tech Town, the Cultural Center, Midtown, Wayne State University, and several museums. Across the street from the new Elaine Lofts development, this site benefits from the surrounding revitalization and new construction. This location presents tremendous potential for commercial development, particularly for businesses seeking to capitalize on the area's growth. Importantly, the property has conditional approval for cannabis use, presenting a unique opportunity within this burgeoning market. The asking price is $169,999. This is a rare chance to invest in a rapidly expanding area of Detroit.

Property profile

Verified
Property type Industrial land
Use group INDUSTRIAL - VACANT LAND
Lot 0.72 ac (31,363 SF)
Zoning code M3
APN 05004175-82
UPID US43-1204682

Cap rate & NOI

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

Location

5930 Hastings St Detroit, MI 48211
Detroit metro Census 511200 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$340k

Owner & transaction history

since 2022
Last sale
$339,000
2 recorded transactions
2022
$500
2022
$339,000

Zoning & alternative use

M3 · Detroit, MI
Zoning description

-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3)…

General category INDUSTRIAL

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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