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Bagley Mansion 2921 E FOR SALE BAGLEY MANSION 2921 E. JEFFERSON AVENUE DETROIT, MICHIGAN For more information, contact: CHRIS MONSOUR (248) 948 0107 | [email protected] PROPERTY HIGHLIGHTS Activated commercial building 20 office spaces Parking lot 8,500 sq. ft. Prime location Strategic neighborhood Historic elements preserved Unique offering 5-Star walkability MANSION FEATURES YEAR BUILT: 1889 LOT SIZE: .202 Acres NO. OF STORIES: 3 + Basement RENTABLE SPACE: 8,500 Sq. Ft. PROPERTY TYPE: Commercial NO. OF OFFICES: 20 PARKING SPACES 15 ANNUAL PER SQ. FT.: $23.17 SALE PRICE: $2,850,000 OWN THIS BEAUTIFUL CLASS A HISTORIC PROPERTY The Bagley Mansion is proudly offered for sale as a one-of-a- kind historical building with endless potential. Built in 1889, The Bagley Mansion boasts 8,500 square feet of mixed-use commercial space with beautifully preserved original architectural elements and is one of Detroit’s finest examples of the French Renaissance Revival style. This stately mansion has been completely renovated, including new windows, central air, and mechanicals. Wonderful original details can be found in every room, including three fireplaces on the main floor and beautiful stain glass windows in the stairwell. Located in Rivertown, this turn-key opportunity is perfect for a special events venue, restaurant/bar, bed & breakfast, law or medical office or educational facility. This site sits on E. Jefferson Avenue, a main artery in Downtown Detroit, and is only minutes to GM, Woodward and major highways. Conveniently situated with great walkability to restaurants, breweries, coffee shops, and more. The Bagley Mansion is also directly adjacent to the new $4.9M Joseph Campau Greenway Development, which allows for foot traffic all the way to the Riverfront & Riverwalk with plans for further expansion. A large parking lot offers ease of access and the potential to add valet service, providing an exclusive customer experience. FINDING AN EQUIVALENT DOWNTOWN REAL ESTATE OPPORTUNITY IN ANOTHER TOP 15 METRO AREA IN NORTH AMERICA WOULD COST AT LEAST DOUBLE THE PRICE, IF AVAILABLE AT ALL MANSION MAIN FLOOR MANSION OFFICE SUITES MANSION COMMON AREAS MANSION HISTORIC DETAIL FIRST FLOOR SECOND FLOOR THIRD FLOOR LOWER LEVEL PROPERTY INCOME SNAPSHOT LEVEL SQ. FT. OFFICES RESTROOMS KITCHEN First Floor 2,315 5 1 1 Second Floor 2,324 6 2 N/A Third Floor 1,600 5 N/A N/A Garden Level 2,255 4 1 N/A ACTIVE LEASES MONTHLY RENT Second Floor – Suites 201 $750 Third Floor – Suites 301 & 305 $1,310 Third Floor – Suites 302, 303 & 304 $2,500 FOR LEASE MONTHLY RENT Second Floor – Suite 202 $650 Second Floor – Suite 203 $900 Lower Level $2,700 OWNER OCCUPANT Main Floor Second Floor – Suites 203, 204, 205, 206 Great potential for Owner Occupant to have supplemental income or Investment Buyer can rent all 20 suites at ROI of 6.5++ RIVERTOWN NEIGHBORHOOD LOCATION, LOCATION, LOCATION… Rivertown is situated just east of the Renaissance Center along the Detroit Riverfront. Home to GM’s headquarters, this area has undergone rapid district-wide development. Today, the once heavily industrial area has become a great riverfront community where many redevelopment projects have been completed. Previously, Rivertown served as the base for the city’s material and shipping needs for nearly 150 years and was integral to the city’s rich cultural fabric. Recently, Detroit has worked to keep that culture alive, in part by repurposing industrial space into lofts and townhomes. In 2007, the Detroit Riverfront Conservancy completed construction of the award-winning Detroit Riverwalk, and the Downtown Detroit Partnership converted the railway on St. Aubin street into the Dequindre Cut, a bustling greenspace connecting Rivertown to the Riverwalk and other Detroit districts. Today, the Riverfront hosts many attractions including the Aretha Franklin Amphitheatre, William Milliken Park, Gabriel Richard Park, and Cullen Plaza. Source: Detroit Riverfront Conservancy GREATER DOWNTOWN DETROIT (7.2 SQ MI) IN CLOSE PROXIMITY On E. Jefferson Avenue – 100,000 VPD 2 minutes from GM headquarters 2 minutes from Woodward Avenue Bus lines Bike lanes Steps to riverfront Tunnel to Canada Belle Isle State Park Source: City of Detroit Adjacent to new park development JOSEPH CAMPAU GREENWAY Rapid surrounding development Walkability to coffee, restaurants Directly adjacent to the Bagley Mansion is the new Joseph Campau Greenway, a $4.9M project. The project has already broken ground and when completed, it will provide access from the Riverwalk to E. Vernor along Joseph Campau Avenue and onto the existing Dequindre Cut. A pathway between Larned and E. Jefferson will be added as well, which also boarders the Bagley Mansion. This public greenspace will allow for freedom of movement for runners, walkers, and bikers, and increasing foot traffic next to the Bagley Mansion. Detroit is becoming a leader in infrastructure containing bike paths and trails and the Greenway will provide several miles of foot traffic highlighting some of the best parts of Detroit. Source: City of Detroit THE BEST TIME TO BECOME A PART OF DETROIT IS NOW THEN “We have experienced a long period of head winds here in Detroit, but the air has been dramatically shifting to a tail wind.” – Billionaire Dan Gilbert Downtown Detroit has changed dramatically in the last 5 years. Its unprecedented resurgence that has garnered national and international headlines. Progressive infrastructure improvements . Residential developments . Public transportation initiatives . Building restoration Detroit, America’s first great city, promises continued responsible growth. It is a place where the best is yet to come. Source: Reddit NOW Source: Detroit Metro Times Source: Downtown Detroit Parks A DECADE OF CHANGE & GROWING CONFIDENCE . 2nd largest increase in market outlook after Atlanta (2010-2016 by PWC) . 84%+ positive real estate outlook up from 17% in 2010 . Detroit is America’s only winner of the UNESCO “City of Design” designation . 33% of the greater Downtown Detroit population is now millennials, this is 10% higher than the U.S. average for urban cities. Millennials have over a trillion dollars in direct buying power (21% of the market) . In 2017, New York Times named Detroit a TOP TEN destination to visit . Downtown Detroit now welcomes millions of visitors each year for major sports, casinos, international festivals and conferences with a total tourist revenue of $14.2 billion . 9.3 million annual visitors . Eastern Market attracts 550 local vendors and up to 40,000 visitors on Saturdays . Downtown Detroit boasts 11 museums . Detroit is home to some of the country’s most important cultural heritage, like Motown and is home to the world’s largest free jazz festival . Detroit is the only American city with all four of its major league teams centrally located in its downtown core A RISING TIDE LIFTS ALL SHIPS DETROIT’S TIDE IS STILL RISING DON’T MISS OUT JOHN N. BAGLEY HOUSE HISTORY Built in 1889, the Bagley Mansion was built as the private residence for John N. Bagley, son of Michigan Governor John J. Bagley, who had made his fortune in the Tobacco industry. It was designed in the French Renaissance Revival style by the Detroit firm Rogers and MacFarlane and remains one of the oldest surviving Detroit structures captured in this style. The French Renaissance Revival style house bears some similarity in the application of materials to Henry Hobson Richardson’s Romanesque influence. It has a massive gable roof and a tower with conical roof and the two stain glass windows are also original to the house. The entrance is set into a round arch and the roof dormer features a bay window. Around the entrance, the façade contains multiple surface and window treatments, including sculptural elements by famous American sculptor Julius Melchers. Melcher’s work can be found throughout Detroit, with three prominent statues on display at Wayne State University. He also taught famed Detroit architect Albert Kahn how to draw. In 1985, the Bagley Mansion was placed on the National Register of Historic buildings. For more information, contact: CHRIS MONSOUR BAGLEY MANSION (248) 948 0107 [email protected] 2921 E. JEFFERSON AVENUE DETROIT, MICHIGAN SIGNATURE ASSOCIATES One Towne Square, Suite 1200 Southfield, Michigan 48076 (248) 948 9000 www.signatureassociates.com.
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