3344 16th St, Detroit, MI 48208

Property Description

RARE FIVE-PARCEL RESIDENTIAL DEVELOPMENT OPPORTUNITY IN NORTH CORKTOWN! Excellent opportunity to acquire five vacant parcels, zoned for residential use, being offered together as a package sale! The package includes 3344, 3352, 3358, 3360 and 3368 16th Street, offering approximately 16,552 total square feet of land. Individual parcel sizes are approximately 4,356 square feet at 3344 16th Street and 3,049 square feet each at 3352, 3358, 3360 and 3368 16th Street -$20,000. Located in Detroit's desirable North Corktown neighborhood, within the subdivision known as SUB OF PC 44 (ALSO PG 3) (DEEDS), this residentially zoned assemblage presents an exciting opportunity for residential infill development. Conveniently situated near Corktown, Downtown Detroit, neighborhood restaurants, shopping, parks, entertainment and major commuter routes, including I-96 and the Fisher Freeway. A great opportunity for builders, investors and developers looking to expand their footprint in an established Detroit neighborhood. Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.