Land for Development - Milwaukee Junction is on Fire!

547 Harper Ave Detroit, MI 48202

547 Harper Ave, Detroit, MI, 48202
547 Harper Ave, Detroit, MI, 48202 547 Harper Ave, Detroit, MI, 48202 547 Harper Ave, Detroit, MI, 48202 547 Harper Ave, Detroit, MI, 48202
FOR SALE
Property Type:
Multifamily Land
Amount:
$1,250,000
Last Verified:
Jun 27, 2024

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Highlights

  • 0.94-acre lot for multi-family or industrial development
  • Adjacent land from Detroit Land Bank available for purchase
  • The site can be expanded to include most of the city block
  • New development surrounds property including an EV Battery Plant, 400-Unit Mixed-development, 161-Unit Loft, and new HQ for Detroit PBS
  • High-visibility from I-94 and I-75
  • Walkable neighborhood with many restaurants and bars
  • City & State incentives for development

Description

Unlock the potential of this prime 0.94-acre property in the heart of Milwaukee Junction, Detroit's hottest-growing neighborhood! Zoned for commercial use and strategically situated within the dynamic Detroit area, this expansive property offers an exceptional investment opportunity for multifamily investors. With the option to expand the site by acquiring adjacent land from the Detroit Land Bank and its favorable proximity to major highways I-75 and I-94, this location offers unparalleled flexibility and convenience. Boasting a vibrant, walkable neighborhood featuring an array of restaurants and bars, as well as easy access to the QLINE streetcar system, this property is primed for lucrative development. Benefit from city and state incentives while seizing the potential of this strategically positioned investment opportunity.

Discover the thriving investment potential in the dynamic Milwaukee Junction neighborhood in the Detroit market. Boasting a vibrant arts and culture scene, top-tier educational institutions, close proximity to major medical centers, and at the crosshair of I-75 and I-94, the area offers a compelling narrative for multifamily investors. This historic neighborhood has seen a resurgence of interest and investment, leading to various adaptive reuse projects aimed at transforming old industrial buildings into offices, residential lofts, retail spaces, and artist studios. This preservation of historic architecture not only adds character to the neighborhood but also attracts businesses and residents looking for unique spaces. With its strategic location and diverse attractions, the area presents an exciting opportunity for investors seeking to capitalize on the resurgence of this iconic American city.

Lot Size: 0.94 acres


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Map of 547 Harper Ave, Detroit, MI, 48202

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.