Prime Development Opportunity in Medbury Park-Midtown

Vacant Land for Sale
Catylist Listing ID: 30701079
Property Subtypes: Hospitality, Multi-Family, Residential (Single Family)
Gross Land Area: 4,966 SF
Sale Price: $74,490
Unit Price: $15 PSF
In Opportunity Zone? Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/22/2023

Overview / Comments

- Unique residential development opportunity
- Zoned R5 allowing for a variety of residential opportunities
- Pedestrian friendly neighborhood
- Located in close proximity to active New Center Area, Henry Ford Hospital Main Campus, and Wayne State University
- Located within walking distance to active commercial corridor on Woodward Ave.
* 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.
**DLBA will require that the new development contain a minimum of two
housing units
***All offers for purchase should be submitted directly to listing broker via

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit - New Center
Taxing Authority: City of Detroit
Tax ID/APN: 01001687.
Zoning: R5
Property Located Between: Beaubien St. and Brush St.
Legal Description: S HARPER 3 E 10 FT 2 WALTER CRANES L20 P23 PLATS, W C R 1/88 35 X 142
Largest Nearby Street: Harper Ave.
Feet of Frontage: 35
Highway Access: I-94
Lot Frontage: 35ft
Lot Depth: 142ft
Zoning Description: Multi-family Residential

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,331 160,999 412,467
Median Age: 36.13 36.39 34.86
Households: 7,557 67,115 155,886


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