McKinley Technology Centre

Office for Sale
Catylist Listing ID: 29934552
Property Subtypes: Executive Suites, High-Tech, Office Building
Building Size (RSF): 24,160 SF
Gross Land Area: 1.87 Acres
Sale Price: $2,800,000
Unit Price: $115.89 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Building Name: McKinley Technology Centre
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/26/2016

Overview / Comments

Rare opportunity to own a multi-tenant office building just blocks from downtown Ann Arbor. This property offers a unique setting with a high-tech infrastructure and amenities to area companies, including corporate suites, plentiful on-site parking, in-place high-speed data connections including fiber optics, T-1 and T-3 service, a tenant conference room and common kitchen. Ample on-site parking, corner location with ingress and egress from both Miller and First St. Must sign confidentiality agreement prior to any financials being release. Call listing agents for further details.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $77,273 (Annual)
Assessed Value - Total($) $2,481,200 (Annual)
Potential Rental Income $406,591 (Annual)
Net Operating Income $167,908 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: City of Ann Arbor
Tax ID/APN: 09-09-29-221-032
Zoning: D2 / C2B
Property Located Between: NW Corner of First Ave & Miller
Property Visibility: Excellent
Highway Access: Easy access to M-14, US-23 and I-94.
Airports: Ann Arbor Airport, Willow Run & Detroit Metro
Site Description: Multi-tenant building with ample parking.
Area Description: 2 blocks from Main Street and Kerrytown in downtown Ann Arbor. Close to shopping and restaurants.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 12,500 SF
Year Built: 1925
Year Renovated: 2007
Roof Type: Gable
Construction/Siding: Brick
Parking Ratio: 4.4 (per 1000 SF)
Parking Type: Surface
Parking Description: Assigned and open space with ingress and egress from N. First Street and Miller.
Total Parking Spaces: 114
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, Satellite
Zoning Description: C2B business service district. This district is designed to provide for certain types of commercial activities which have functional and economic relationships to a central business or fringe commercial district. Such activities will include wholesale suppliers retail and supply warehouses, motor vehicle major repair and service agencies, carports and other parking establishments, equipment and machinery dealers, building materials dealers, food processing plants, farm and garden supply stores, places of entertainment or recreation, public utility facilities and retail establishments related in a peripheral manner to those of the central business district. In this district the customer may come to the particular establishment either by automobile or as an extension of this CBD pedestrian shopping activity. Since there is little essential interdependence of activities, each establishment can have its own automobile parking area. Good traffic accessibility is essential to this district, particularly for trucks and other freight carriers. The uses permitted, because of their required contact with auto and truck traffic, would be incompatible in the central business district. (2) Permitted principal uses. (a) Any principal use permitted in the C2A central business district. (b) Retail sales that may have service, repair, leasing or rental, or manufacturing facilities in connection therewith, including: new and used automobile dealers; boat and sporting good dealers; mobile home dealers; agricultural implement, garden supply and motorcycle dealers. (c) Retail sales, as typically incidental to contractors, in which a workshop is required for successful operation and in which the retail outlet or show room may in fact be an accessory use, such as, but not limited to: plumber, electrician, lighting fixtures, air conditioning and heating (including incidental sheet metal work), radio and television, interior decorator, reupholstery and refinishing, sign painting and awnings. (d) Drive-ins, such as: automobile service stations, banks, carwash, cleaners, restaurant; provided that drive-in restaurants and automobile service stations shall be permitted pursuant to the standards set forth in section 5:104. (e) Enclosed building for storage and repair of automobiles, trucks and construction equipment; food locker plant (including the cutting and packaging of meat or game, sale at retail, delivery of individual home orders, renting of individual lockers for home-customer storage of food, but excluding slaughtering or eviscerating thereof). (f) Wholesaling, warehousing, refrigerated and general storage. (g) Veterinary hospitals and kennels. (h) Outdoor recreation, such as: miniature golf, golf driving ranges, commercial swimming pools, outdoor theaters and canoe liveries. (3) Permitted accessory uses. (a) Those allowed in the R3 district.
Lot Frontage (Feet): 544
Lot Depth: 228.96
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOTS 8 THRU 14 & PRT OF LOTS 1 THRU 7, B3N, R1E, JAMES B. GOTTS ADDITION, DESC AS COM N 1/4 COR OF SEC 29, T2S, R6E, TH N 87 DEG 53 MIN 30 SEC E 29.32 FT, TH S 2 DEG 6 MIN 30 SEC E 33 FT, TH S 4 DEG 27 MIN 50 SEC W 436.08 FT, TH N 85 DEG 51 MIN 10 SE

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 30,445 107,355 155,859
Median Age: 28.1 33.21 34.16
Households: 11,602 43,310 64,818

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