12945 Puritan AveDetroit, MI 48227

For Sale
$5,000

4,277 sq ft Commercial Lot, B2 Zoning

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 4,277 square foot commercial land parcel, located at 12945 Puritan Ave, Detroit, MI 48227, presents a unique infill development opportunity. Zoned B2, this property is ideally suited for small- to medium-scale projects aimed at increasing housing density and enhancing neighborhood walkability. Prospective buyers are encouraged to review the Detroit Land Bank Authority (DLBA) proposal guidelines for new build opportunities, ensuring compliance with their requirements for proof of funds (meeting or exceeding development costs). It's crucial to note that the DLBA retains tax capture rights for five years post-sale, potentially impacting the feasibility of certain tax abatements. While the DLBA may consider waiving these rights, a payment in lieu of taxes might be required, determined by a review of the development proforma and any tax abatement's effect on financing. Further details regarding DLBA requirements and offer submission are available in accompanying documentation. The property is being sold "as is," where is. Interested parties should familiarize themselves with the City of Detroit's Planning and Development Department's Neighborhood Framework Plans for comprehensive neighborhood context.

Highlights

  • 4,277 square foot commercial land parcel at 12945 Puritan Ave, Detroit, MI 48227.
  • B2 zoning, ideal for small- to medium-scale infill development projects.
  • Subject to Detroit Land Bank Authority (DLBA) guidelines, including proof of funds and potential tax capture rights.
  • Sold "as is, where is."
  • Buyers should review DLBA and City of Detroit Planning & Development Department resources.

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.4092457
Longitude
-83.172593
12945 Puritan Ave, Detroit, Michigan

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12945 Puritan Ave
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