Catylist ID:
#30596446
| Catylist Listing ID: | 30596446 |
| Property Subtypes: | Multi-Family, Office, Retail |
| Gross Land Area: | 17,969 SF |
| Sale Price: | $359,380 |
| Unit Price: | $20 PSF |
| In Opportunity Zone? | Yes |
| Adjacent Parcels Available: | Yes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 9/22/2023 |
Overview / Comments
|
- Essentially located in the heart of Wayne State University's Campus - Surrounded by existing multi family housing that services students and young professionals from Wayne State University, Detroit Medical Center and Henry Ford Health System - Pedestrian friendly neighborhood - Located within walking distance to active commercial corridor along Woodward Ave., with immediate access to commuter Q-Line - Located in close proximity to active New Center Area, Henry Ford Hospital main Campus, Wayne State University, and Downtown Detroit * Please note that the Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. **All offers for purchase should be submitted directly to listing broker via email. |
Additional Details
| Nearest MSA: | Detroit-Warren-Dearborn |
| County: | Wayne |
| Submarket/Township: | Detroit - New Center |
| Taxing Authority: | City of Detroit |
| Tax ID/APN: | 01001590., 01001591. |
| Zoning: | B4 |
| Property Located Between: | John R and Brush St. |
| Property Visibility: | Excellent |
| Legal Description: | S HENDRIE W 15 FT 16 15 E 19 FT 14 CORLISS & ANDRUS L7 P53 PLATS, W C R 1/87 64 X 171.46 S HENDRIE W 11 FT 14 13 CORLISS & ANDRUS L7 P53 PLATS, W C R 1/87 41 IRREG |
| Largest Nearby Street: | Woodward Ave. |
| Highway Access: | I-94, I-75 |
| Area Description: | Thriving with active residential and commercial density |
| Lot Frontage: | 105ft |
| Lot Depth: | 171ft |
| Zoning Description: | General Business District |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 16,984 | 159,128 | 395,646 |
| Median Age: | 34.5 | 36.32 | 35.08 |
| Households: | 8,366 | 66,555 | 150,162 |
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