Office / High Tech Building in Ann Arbor for Sale

Office for Sale
Catylist Listing ID: 30377473
Property Subtypes: High-Tech, Office Building
Building Status: Proposed
Building Size (RSF): 25,000 SF
Gross Building Area: See Agent
Gross Land Area: 2.17 Acres
Sale Price: $3,100,000
Unit Price: $124 PSF
Ceiling: 16 ft.
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/23/2019

Overview / Comments

Fully occupied 25,000 SF office / high tech building. High value in wet lab interior infrastructure. Significant investments made to HVAC systems and building / site structure. Triple net lease with credit tenant.

Lease information and sale comparables available with confidentiality agreement.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: Pittsfield Twp
Tax ID/APN: L-12-16-355-043
Zoning: BD
Property Located Between: Located off South State Street in Pittsfield Township. South of Ann Arbor Airport, I-94 / State interchange and the Briarwood area.
Highway Access: I-94, US-23, US-12, M-14
Airports: DTW, Ann Arbor
Area Description: Pittsfield Township is a progressive community that provides an outstanding combination of housing, education, business and a vibrant quality of life. It interconnects its residential, retail, commercial, entertainment, cultural and recreational availability via personal and public modes of transportation. Pittsfield Township has immediate and easy access to major local and state highways. It provides advantages such as; having an Ann Arbor mailing address with much lower taxes, a diverse and exceptional small business community ranging from family-owned storefronts to international franchisees, and is home to numerous larger headquartered firms, including R&D and high-tech companies throughout the township. Pittsfield boasts a robust talent pool with over 50% of its population as being college educated with more than one out of every four residents possessing a graduate/professional degree. Residents, students and business persons alike have immediate access to education being situated between the University of Michigan, Eastern Michigan University and at the back door of Washtenaw Community College. Pittsfield Township is just minutes from downtown Ann Arbor, Ypsilanti’s exciting Depot Town, collegiate sporting events, world renowned health care, hospitality/accommodations for the avid traveler, and recreational opportunities such as golf, mountain biking, canoeing, hiking or just plain enjoying the beauty and relaxation of the natural scenery.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1989
Year Renovated: 2012
Parking Type: Surface
Total Parking Spaces: 87
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: 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.
Lot Frontage: 477
Lot Depth: 208
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PI (041) L 2228 P 258 W/D 4/88 COM AT THE NE COR OF LOT 30 RUNWAY PLAZA WORKSENTER, TH S 82-41-23 W 459.50 FT TO POB, TH N 07-18-37 W 114.00 FT, TH 39.27 FT CURV TO LFT, RADIUS 25.00 FT, CHORD N 37-41-23-E 35.35, FT, TH N 01-43-00 W 30.00 FT, TH 12.54 FT CURVE TO LEFT RADIUS 10.00 FT, CHORD N N 37-37-47 W 11.73 FT, TH N 01-43-00 W 195.85 FT, TH 17.71 FT CURVE TO LEFT RADIUS 7.5 FT, CHORD N 60-30-31 E 13.87 FT, TH N 07-09-13 W 70.90 FT, TH S 82-50-48 W 106.03 FT, TH N 01-43-00 W 5.93 FT, TH S 88-17-00 W 11.58 FT, TH 11.07 FT CURVE RIGHT, RADIUS 5.00 FT, CHORD N 33-43-07 W 8.94 FT, TH S 88-25-31 W 93.68 FT, TH S 01-43-00 E 477.00 FT, TH N 82-41-23 E 206.53 FT TO POB. PART OF LOTS 32, 33 & 34 OF RUNWAY PLAZA WORKSENTER.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,349 54,885 156,362
Median Age: 35.24 37.17 35.2
Households: 1,627 23,969 64,010

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