Ann Arbor Flex
For Sale
Contact for pricing
5200 Venture Dr, Ann Arbor, MI
Flex building with modern office and high-clear warehouse space.
Property Size25,494 SF
Lot Size9.49 Acres
Price / SF$118.66
Days on Market659
Property Features for 5200 Venture Dr
General Information
Standard status
Active
Size
25,494 SF
Lot size
9.49 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Colliers - Ann Arbor
(734) 994-3100
Listed By:
James H. Chaconas
(734) 994-3100
Source:
Moodyscre
Added: Oct 31, 2024
Changed: Aug 8
Last Checked: Aug 20 at 11:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Ann Arbor
Investment Insights
Based on property information with market context.
This flex building offers approximately 25,494 square feet of space on a 9.48-acre lot. The property includes approximately 14,316 square feet of modern office space and approximately 11,178 square feet of high-clear warehouse space. The warehouse features 24-foot ceilings, one dock, one bay door, a mezzanine, and a locker area. The first floor of the office space includes a formal entry, open work areas, a cafeteria/kitchen, and meeting rooms. The second floor offers private offices, a conference room, and a large open office overlooking the warehouse. The building is equipped with 1200 AMP / 480V power, an elevator, and fire-suppressed office space. Ample parking is available. The property is located in Ann Arbor, MI.
Key Highlights
- Large ±25,494 SF flex building on 9.48 acres suitable for expansion.
- Includes ±14,316 SF of modern office space and ±11,178 SF of high‑clear warehouse space.
- Warehouse features 24' ceilings, one dock, and one bay door.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$242,999
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,859,980
$4.9M
Cap Rate 7%
$3,471,414
$3.5M
Cap Rate 9%
$2,699,989
$2.7M
Market Conditions
NOI Build-Up for 25,494 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$397.7K $15.60/SF
− Vacancy
−$23.9K −$0.94/SF
EGI
$373.8K $14.66/SF
− OpEx
−$130.8K −$5.13/SF
NOI
$243.0K $9.53/SF
Area
Ann Arbor, MI
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,859,980
Cap Rate 7%
$3,471,414
Cap Rate 9%
$2,699,989
Alternative Uses
Best Use
Office B
$4.09M
$3.58M – $4.77M
NOI $286,417 @ 7.0% cap · market cap 9.47%
Second Best
Flex RnD
$3.47M
$3.04M – $4.05M
NOI $242,999 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$5.63M
$4.93M – $6.57M
NOI $394,133 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex building with modern office and high-clear warehouse space.
Where is this flex space located?
The property is located at 5200 Venture Dr Ann Arbor, MI.
What is the asking price?
The asking price for this property is $3,025,000.
What are key features of this property?
This property features: Large ±25,494 SF flex building on 9.48 acres suitable for expansion.; Includes ±14,316 SF of modern office space and ±11,178 SF of high‑clear warehouse space.; Warehouse features 24' ceilings, one dock, and one bay door.
