1716 Merrick St, Detroit, MI 48208

Description

DEVELOPMENT OPPORTUNITY IN DETROIT! Sale includes 1716 Merrick & 5200 Hecla with a combined 4,213 square feet, zoned R2 and must be sold together for $15k. Bring your vision to this vacant residential lot located in Detroit's Woodbridge area. Conveniently positioned near Grand River Avenue with easy access to Midtown, Corktown, Downtown Detroit and major freeways, this parcel offers an opportunity for an investor, builder or developer looking to add to Detroit's continued neighborhood growth. Enjoy convenient access to Wayne State University, Midtown's cultural and entertainment district, shopping, restaurants, neighborhood parks and Downtown Detroit attractions. Nearby destinations include the Detroit Institute of Arts, Michigan Science Center, Little Caesars Arena, MotorCity Casino and the growing Corktown/Michigan Avenue corridor. Great opportunity to invest, build and become part of Detroit's continued revitalization and benefit from the NEZ-Homestead neighborhood property tax abatement!! Purchase and development are subject to DLBA guidelines, proposal requirements and applicable development timelines. Buyer/developer is responsible for verifying zoning, permitted uses, setbacks, lot dimensions, utility availability, building requirements and all proposed plans with the City of Detroit and DLBA. Please note that the Detroit Land Bank Authority 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 that are otherwise available to the selected purchaser. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing.