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985 E Cross St
Ypsilanti, MI 48198
Opportunity Zone Land · Land For Sale
·
3.31 AC
INVESTMENT HIGHLIGHTS
- Opportunity Zone
EXECUTIVE SUMMARY
There is an adjacent 6.59 acre parcel available for-sale at 915 E. Michigan Ave. that may be assembled into a 9.9 acre parcel subject to compliance with Ypsi Twp Zoning Ordinance and Michigan Plat Act. It is recommended that the buyer consult with an attorney before closing.
PROPERTY FACTS
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 3.31 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | ||
| Zoning | RM-2 | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 3.31 AC |
| Opportunity Zone |
Yes |
| Zoning | RM-2 |
1 LOT AVAILABLE
Lot 11-10-205-
| Price | $458,697 CAD | Lot Size | 3.31 AC |
| Price Per AC | $138,579.06 CAD |
| Price | $458,697 CAD |
| Price Per AC | $138,579.06 CAD |
| Lot Size | 3.31 AC |
This 3.31 acres of land is located between East Cross Street and East Michigan Avenue 2.5 Miles away from I-94 and US 12, making this land easily accessible to other neighboring cities.
DESCRIPTION
Vacant Land in a Qualified Opportunity Zone (QOZ). Opportunity Zones are designed to spur economic development by providing tax benefits to investors. Opportunity Zones allow investors to temporarily defer or permanently exclude capital gains that are reinvested with a specific time frame. This is a great opportunity for a Multi-Family or Assisted Living development. The Student population in the area is high, as Eastern Michigan University is Two Miles East and the University of Michigan is only 10 Miles West. Also, by 2020 the 65 years or older population will reach 18,271 that is 15.6% of the population that will need to plan for housing or care with the area. This is a terrific location for development to fit the needs of these two growing population
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $150,950 CAD |
PROPERTY TAXES
