Avis Farms Office for Sale

Office for Sale
Catylist Listing ID: 29992829
Property Subtypes: Business Park, Governmental, High-Tech, Flex Space, Office Building, Research & Development
Building Size (RSF): 24,840 SF
Gross Land Area: 3.34 Acres
Sale Price: $3,400,000
Unit Price: $136.88 PSF
Ceiling: 18 ft.
Property Use Type: Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/10/2019

Overview / Comments

Attention Potential Owners: this is a great opportunity to own your own opportunity to own a first class 24,000+ SF Ann Arbor office building located in beautiful Avis Farms. This first class Ann Arbor office building is fully leased. Tenants enjoy high end finishes, high ceilings, ample parking, surrounded by woods. Very scenic property.

Avis Farms is a high-tech campus, with a park-like setting, streams, ponds and walking trails. The area's surrounding business parks is home to many industries including telecommunications, engineering services, and computer software and hardware services. Ann Arbor is known as the Research Center of the Midwest due to its reputation as a university town, with many high tech firms starting, growing in, or relocating to Ann Arbor.

Current Tenants

Tenant Business Name Amcor Rigid Plastics USA, Inc.
Is Renting? Yes
SF of Space Occupied 15,371 SF
Current Rent $16 PSF (Annual)
Tenant Business Name Amcor Rigid Plastics USA, Inc.
Is Renting? Yes
SF of Space Occupied 15,371 SF
Current Rent $16 PSF (Annual)

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: Pittsfield Township
Tax ID/APN: L-12-20-101-009
Zoning: BD
Market Type: Medium
Property Located Between: Ellsworth and Textile
Side of Street: West
Road Type: Paved
Property Visibility: Good
Highway Access: Just 2 1/2 miles south of I-94 / State Street Exit (#177), with easy access to US-23 and M-14.
Airports: Just south of Ann Arbor Airport
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1998
Roof Type: Flat
Construction/Siding: Metal Siding
Parking Ratio: 3.8 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 94
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: BD - BUSINESS DISTRICT: Intent. The BD Business District is intended to provide a zoning district that encourages creative, well planned, employment-intensive mixed research, office, and commercial development in a campus-like setting. The District encourages consistent and uniform site layouts, architecture designed to attract business and light industry that is clean and unobtrusive to surrounding properties, development opportunities for high skill jobs close to residential areas, thus reducing travel time and relieving any strain on the transportation infrastructure, expansion of employment opportunities by emphasizing employment-intensive uses; and providing a setting that is aesthetically pleasing. The District is intended to allow for limited retail uses with the primary purpose of serving the office space, research and development uses contained within each campus. Use Regulations. Section 4.21 sets forth permitted, accessory, and conditional land uses within the BD Business District. Permitted Uses: Dance, Martial Arts, Music, and Art Studios, Durable Medical Supplies, Medical Clinics, Medical Laboratories, General Offices, Professional and Medical Offices, Light Manufacturing, Technology Centers/Office Research, Basic Research, Design, and Pilot or Experimental Product Development, Data Processing and Computing Centers, Manufacturing and Assembly, Printing and Publishing, Warehouse Establishments. Conditional Uses: Commercial Recreational Facility, Public Arenas, Stadiums, and Skating Rinks, Day Care Centers and Preschools, Hospitals, Places of Worship, Post-Secondary Schools (technical colleges, business schools), On-Site WECS (Freestanding), Solar Energy Systems (Ground-Mounted), Conference, Meeting, and Banquet Facilities, Drive-Up / Drive-Through Facilities, Farmers Market, Financial Institutions, Funeral Home, Health Fitness Centers / Athletic Clubs, Private Clubs, Fraternal Organizations, and Lodge Halls, Restaurants, Fast Food, Restaurants, Standard, Retail, Wholesale, Self-Storage Facilities, Radio and Television Broadcasting and Receiving Antenna, Trade Contractors, Home Service and Repair, Wireless Communication Facilities, Vehicle Rental.
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: M.D. L3399 P330 ****FROM 1220100004 03/18/97 ****FROM 1220100011 03/18/97 ****FROM 1220100013 03/18/97 ****FROM 1220100015 03/18/97 UNIT 9 AVIS FARMS CONDO

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,275 45,442 142,785
Median Age: 36.76 38.22 34.96
Households: 662 19,692 57,895

Contact

Photograph of Listing Agent

James H. Chaconas

Colliers International
CPIX Member
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