5040 FERNWOOD Street, Detroit, MI 48204

• 3 beds |
• 2 baths

Property Description

This is a land-based site. This vacant lot is sold with 5054,5060, 5066, and 5074 Fernwood. Totaling= 47,720 sqft. Not sold separately. Zoned R3. The DLBA is seeking proposals to support the activation and stewardship of vacant land sites, including urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult our proposal guidelines for land-based sites and DLBA Guide to Plot Plan, Site Design, and Maintenance. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood. BATVAI. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing.

Listing Status:

Active

Data Last Updated:

July 6, 2026 at 9:42PM

Listing Office:

RCH Brokerage Legacy Inc : 2484402268

Listing Agent:

Leonard A Pickett III : 2484402268

MLS ID:

20240040769

Location

• Road/Access: Paved
• Originating MLS: Realcomp II Ltd
• School District: Detroit
• County: Wayne

Lot

• Zoning: N FERNWOOD E 17.5 FT 131130 & 129 JOHN TIREMANS SUB L32 P10 PLATSWCR 16/168 87.5 X 120 (10500 SQ FT)W16I003548C50

Utilities

• Water: PublicWaterat street
• Sewer: Public sewerSewer at street

Financial

• Source: Realcomp II Ltd