1627 W Lafayette Boulevard
Detroit, MI 48216

$4,500,000

Description

We are is pleased to offer 1627 West Lafayette Boulevard, a prime located development opportunity in Corktown, Detroit. 1627 West Lafayette consists of a 19,000 SF architecturally significant all brick building, built in 1926 with approved plans to build a 7 story building. Approval for special use permit of residential and commercial use. Existing 12 year tax freeze starting in 2018 with the OPRA tax credit (includes addition of 5 stories). The portfolio also includes 1551 West Lafayette, a 16,000 SF lot with an existing 2,000 SF building and 1626 West Fort Street, a 6,175 lot. Building Highlights: Opportunity Zone , Plans for 7 Story Development, 12 Year OPRA Tax Credit

Details

MLS#219018377
StyleIndustrial
Sub-TypeResale
StatusActive
Year1926
Days On Site14

Features

SQ Feet22,000
Story(s)1
ZoningCommercial,Multiple,Office,Resid

Market Activity 48216

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Area Information

StateMI
CountyWayne
CityDetroit
Zip Code48216
AreaDet South Of Grand River
Listing VS Median (in 48216)
Price:
$4,500,000
low | high
Med:
$249,900
100% of Average
SqFt:
22,000
low | high
Med:
2,422
100% of Average
$ / SqFt:
$205
low | high
Med:
$103
99.556840077071% of Average
On Site:
14
low | high
Med:
5
100% of Average
Listing Updated: 03/19/2019
MLS Number: 219018377
Listing Provided By:
Vincent Mazzola  of  OConnor Realty
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