Prime New Center Residential Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30523453
Property Subtypes: Multi-Family, Retail
Gross Land Area: 0.75 Acres
Sale Price: $360,000
Unit Price: $480,000 Per Acre
In Opportunity Zone? Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/26/2020

Overview / Comments

In partnership with the Detroit Building Authority, (“DBA”), the City of Detroit’s Housing and Revitalization Department (“HRD”) and Planning and Development Department (“PDD”) seek a developer for approximately 0.75 acres of vacant land at the southwest corner of Virginia Park and 3rd Street at 801 Virginia Park.

- Wednesday, October 30th, 2019: Marketing open
- Pre-Submission Meeting
- Wednesday, December 18, 2019 @ 1:00 pm*
Coleman A. Young Municipal Center
2 Woodward Avenue - Suite 908
* Those unable to attend in person may participate by phone using the
following:
Dial In: 712-775-7031
Code: 552206
- 5:00 P.M. EST on Friday, January 24, 2020: Response deadline

Please view attached Marketing Package for more information.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit - New Center
Taxing Authority: City of Detroit
Tax ID/APN: 04001880-3
Zoning: R3
Property Located Between: John C. Lodge Service drive and Third St.
Legal Description: S VIRGINIA PARK 62 THRU 59 PEERLESS ADD NO 3 L18 P40 PLATS, W C R 4/80 200 X 163
Largest Nearby Street: Virginia Park
Feet of Frontage: 200
Highway Access: M-10, I-75
Lot Frontage: 200
Lot Depth: 163
Zoning Description: Low Density Residential

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,580 180,282 468,008
Median Age: 38.92 35.6 35.03
Households: 8,288 72,897 176,723
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.