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FOR SALEBAGLEY MANSION2921 E. JEFFERSON AVENUE
DETROIT, MICHIGAN
For more information, contact:CHRIS MONSOUR(248) 948 0107 | cmonsour@signatureassociates.com
PROPERTY HIGHLIGHTS
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
Activated commercial building
20 office spaces
Parking lot
8,500 sq. ft.
Prime location
Strategic neighborhood
Historic elements preserved
Unique offering
5-Star walkability
OWN THIS BEAUTIFUL CLASS A HISTORIC PROPERTY
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
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-usecommercial space with beautifully preserved originalarchitectural elements and is one of Detroit’s finest examplesof the French Renaissance Revival style. This stately mansionhas been completely renovated, including new windows,central air, and mechanicals. Wonderful original details canbe found in every room, including three fireplaces on themain floor and beautiful stain glass windows in the stairwell.
Located in Rivertown, this turn-key opportunity is perfect fora special events venue, restaurant/bar, bed & breakfast, lawor medical office or educational facility. This site sits on E.Jefferson Avenue, a main artery in Downtown Detroit, and isonly minutes to GM, Woodward and major highways.Conveniently situated with great walkability to restaurants,breweries, coffee shops, and more. The Bagley Mansion isalso directly adjacent to the new $4.9M Joseph CampauGreenway Development, which allows for foot traffic all theway to the Riverfront & Riverwalk with plans for furtherexpansion. A large parking lot offers ease of access and thepotential to add valet service, providing an exclusivecustomer experience.
MANSION MAIN FLOOR
MANSION OFFICE SUITES
MANSION COMMON AREAS
MANSION HISTORIC DETAIL
FIRST FLOOR SECOND FLOOR
THIRD FLOOR LOWER LEVEL
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++
PROPERTY INCOME SNAPSHOT
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.
RIVERTOWN NEIGHBORHOOD
Source: Detroit Riverfront ConservancyGREATER DOWNTOWN DETROIT (7.2 SQ MI)
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.
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
Adjacent to new park development
Rapid surrounding development
Walkability to coffee, restaurants
Source: City of Detroit
Source: City of Detroit
IN CLOSE PROXIMITY
JOSEPH CAMPAU GREENWAY
“We have experienced a long period of head winds here in Detroit, but the airhas been dramatically shifting to a tail wind.” – Billionaire Dan Gilbert
Downtown Detroit has changed dramatically in the last 5 years. Its unprecedentedresurgence 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 aplace where the best is yet to come.
THE BEST TIME TO BECOME A PART OF DETROIT IS NOW
Source: Reddit
THEN
Source: Detroit Metro Times
NOW
Source: Downtown Detroit Parks
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. averagefor 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, internationalfestivals 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 theworld’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 DECADE OF CHANGE &GROWING CONFIDENCE
A RISING TIDE LIFTS ALL SHIPSDETROIT’S TIDE IS STILL RISING
DON’T MISS OUT
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.
JOHN N. BAGLEY HOUSE HISTORY
SIGNATURE ASSOCIATESOne Towne Square, Suite 1200Southfield, Michigan 48076(248) 948 9000
www.signatureassociates.com
For more information, contact:
CHRIS MONSOUR(248) 948 0107cmonsour@signatureassociates.com
BAGLEY MANSION2921 E. JEFFERSON AVENUE
DETROIT, MICHIGAN
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