Property summary
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
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
-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)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
M3 · Detroit, MI-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)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
-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)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for M3 in Detroit, MI.
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