5040 Fernwood Street Detroit, MI 48204
This is a land-based site. This vacant lot is sold with 5054, 5060, 5066, and 5074 Fernwood. Totaling= 47, 720 sqft. Not sold separately. Zoned R3. The DLBA is seeking proposals to support the activation and stewardship of vacant land sites, including urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult our proposal guidelines for land-based sites and DLBA Guide to Plot Plan, Site Design, and Maintenance. 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. BATVAI. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). 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 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.
- Property TypeLand
- NeighborhoodJohn Tiremans Sub (Plats)
- CountyWayne
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site43 Days
- MLS StatusActive
- MLS ID Number20240040769
- Home Size Source N/A
- Year BuiltN/A
- Lot Size0 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Sewer Public Sewer
- Water Public
- Property Sub Type Unimproved Land
- Zoning Residential
Exterior Features
- Waterfront Property No
Community Features
- MLS Area Wayne