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$ 23,658
Est. payment /mo
Active
885 E GRAND Boulevard Detroit, MI 48207
0.27 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20230045754
Lot Size 0.270 Acres
Acres 0.27
Lot Dimensions 96.00 x 123.00
Source Realcomp
Property Description
Property zoned as R5. The DLBA is seeking proposals that for small- to medium-scale infill development with the goal of increasing housing supply and restoring the urban fabric, as well as density and walkability. Interested buyers should consult DLBA proposal guidelines for new build opportunities. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). Note that the 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 abatement 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 abatement on the purchase and development financing. See attached documents for DLBA requirements and offer submission info. BATVAI Please see attached documents for DLBA requirements and offer submission information. 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 abatement on the purchase and development financing. See attached documents for DLBA requirements and offer submission info. BATVAI Please see attached documents for DLBA requirements and offer submission information.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial
Direction TAKE MACK AVE HEADED WEST PASS VAN DYKE. MAKE RIGHT ONTO E GRAND BLVD, PROPERTY WILL BE ON LEFT SIDE OF THE STREET. SYLVESTER SIDE STREET
Exterior
View Y/N No
Schools
School District Detroit
Others
Tax ID W15I007993S
Acceptable Financing Cash
Listing Terms Cash
Listed by RCH Brokerage Legacy Inc