5000 Mount Elliott StDetroit, MI 48211

Property Details for 5000 Mount Elliott St

Year built

1931

Lot size

0.11 AC

Property size (Sq ft)

260 SF

Zone code

M4

Property type

Auto shops

APN

15014090.

APU

15014090

Description

This exceptional commercial land offering presents a unique investment opportunity in Detroit, Michigan. Encompassing 0.56 acres, this property is ideally situated at 5000 Mt. Elliott St, within the desirable M-4 zoning district. The asking price is $68,000, translating to a land value of $2.79 per square foot. The acreage includes multiple addresses: 5000, 5024, 5030, and 5046 Mt. Elliott Street, as well as 6331 and 6337 West Warren Avenue, and 6312 Theodore Street. It's important to note that these parcels are not contiguous, and some lots on Mt. Elliott Street are currently owned by the Land Bank. This presents a compelling opportunity for developers or investors seeking to acquire a substantial land holding in a dynamic urban area. The M-4 zoning allows for a variety of commercial uses, providing flexibility for future development plans. Detailed zoning information and potential use restrictions should be independently verified. This property is located in Wayne County, Michigan, with a zip code of 48211. The precise geographic coordinates are latitude 42.3707813 and longitude -83.027378. Serious inquiries are encouraged to explore the potential of this significant land acquisition.

• CAP approach

  CAP return

  Valuation

  6%

  $79,492

  6.5%

  $73,377

  7%

  $68,136

• Comparable approach

  Method

  Valuation

  Relative Method

  $61,287

  Geo Method

  $61,287

• Alternative Use

  Use

  Valuation

  Residential

  $61,896

  Hospitality

  $56,697

  Educational

  $47,171

  Medical

  $48,793

  Retail

  $73,377

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3707

Longitude

-83.0274

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].