One of the last pieces of undeveloped riverfront land in downtown Detroit, this three-point-one acre property is a once in a lifetime development opportunity. 701 W Jefferson is an ideal site for a hotel, high-end condos or mixed-use development and comes with rights to build a marina. Highly desirable location in a qualified Opportunity Zone adjacent to The Residences at Water Square, Huntington Place convention center, and the Detroit Riverwalk. Area developments include: The New Residences at Water Square (496 Units), Huntington Place Convention Center, The Foundation Hotel, Riverfront Towers (845 Units), Hart Plaza, and the Detroit Riverwalk
Sold for $5,500,000
$5,500,000
701 W Jefferson Ave, Detroit, MI 48226
--beds
--baths
3.1Acres
Land
Built in ----
3.1 Acres Lot
$-- Zestimate®
$--/sqft
$2,850 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,850/mo
Zestimate® history
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$38,396/mo
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Zillow last checked:
Listing updated:
Listed by:
Vincent Mazzola 313-963-9891,
O'Connor Realty Detroit, LLC
Bought with:
Vincent Mazzola, 6501387170
O'Connor Realty Detroit, LLC
Source: Realcomp II,MLS#: 20240040221
Facts & features
Interior
Features
- Has basement: No
- Has fireplace: No
Property
Lot
- Size: 3.1 Acres
- Dimensions: 450 x 300
Details
- Parcel number: 0400002040
- Zoning description: Commercial, MultiFamily, Office
- Special conditions: Short Sale No,Standard
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Detroit
Financial & listing details
- Tax assessed value: $1,769,458
- Annual tax amount: $154,551
- Date on market: 6/8/2024
- Cumulative days on market: 24 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 9/16/2024 | Sold | $5,500,000-21.4% |
Source:  Realcomp II #20240040221 Report a problem | ||
| 7/3/2024 | Pending sale | $7,000,000 |
Source: Realcomp II #20240040221 Report a problem | ||
| 6/8/2024 | Listed for sale | $7,000,000 |
Source: Realcomp II #20240040221 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: Downtown
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Nearby schools
GreatSchools rating
- 7/10Chrysler Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 4/10Bunche Elementary-Middle SchoolGrades: PK-8Distance: 1.1 mi
- 6/10Martin Luther King Jr Senior High SchoolGrades: 9-12Distance: 1.3 mi
- Michigan
- Wayne County
- Detroit
- 48226
- Downtown
- 701 W Jefferson Ave
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Nearby zip codes
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