A unique redevelopment opportunity in Corktown has just hit the market. On Bagley Street just off Tumbull Avenue (right next to restaurants Folk and Mink), a former body garage listed for $725,000.
The 2,300-square-foot cinder block property was built in the 1930s and called the Bagley Body Garage, according to the listing. Inside, it’s essentially one big room with huge 50-foot beams spanning the length of the ceiling. A new concrete slab floor was recently laid. It’s also got a slanted rubber roof and 50 feet of Bagley-facing frontage.
The building could be repurposed for a number of creative uses, including a unique studio, commercial, or residential space.
The price may be a deterrent. Many expensive properties have sold in Detroit’s oldest neighborhood over the last few years, driving up property values. Condos at several nearby developments, including at the Bagley 10 and the Towns @ the Corner, are selling for similar price per square foot. Of course, some extra investments will need to be put into this property to make it usable.
1524 Bagley Street is listed for $725,000 with James Tumey of Friedman Real Estate.