1601 Leverette StDetroit, MI 48216

Property Details for 1601 Leverette St

Lot size

0.23 AC

Zone code

R2

Property type

Commercial land

APN

08000413.

APU

8000413

Description

This vacant land parcel, located at 1601 Leverette St, Detroit, MI 48216, presents a remarkable redevelopment opportunity in the thriving Corktown neighborhood. The property boasts a prominent corner location with over 130 feet of frontage on Tenth Street and 65 feet on Leverette Street. Situated within a billion dollars' worth of new developments, this site offers unparalleled access to the revitalized area. Its proximity to the Michigan Central Station, undergoing a $350 million renovation by Ford Motor Company, is a key advantage. Ford's Corktown campus expansion is projected to bring over 5,000 new jobs and a demand for 1,100 new residential units, creating significant potential for future rental and sale prices. Just three blocks away, the upcoming Godfrey Hotel will add 200+ boutique rooms, further enhancing the neighborhood's appeal. Corktown's vibrant atmosphere, with its diverse mix of restaurants, shops, coffee shops, and bars, makes this an exceptional location for a multifamily development project. This is a chance to capitalize on the explosive growth and high demand in one of Detroit's most desirable and walkable neighborhoods. The asking price for this commercial and residential land is $549,900.

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,189,950

  Retail / Commercial

  $2,055,080

  Mixed-Use / Specialty

  $1,974,080

  Hospitality / Lodging

  $1,352,390

  Office

  $1,885,610

  Institutional / Educational

  $2,025,910

  Residential Income

  $2,370,320

  Multifamily

  $3,251,300

  Automotive / Energy

  $1,736,500

  Parking / Income-Based Land

  $672,039

  Restaurant / Food Service

  $869,483

  Healthcare / Senior Housing

  $2,099,940

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3294

Longitude

-83.0675

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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