Ann Arbor R&D
401 W Morgan Rd Ann Arbor, MI
For Sale
Contact for pricing
State-of-the-art R&D building with clean room and warehouse.
Property Size28,176 SF
Lot Size8.93 Acres
Price / SF$200.82
Days on Market241
Property Features for 401 W Morgan Rd
General Information
- Standard status
- Active
- Size
- 28,176 SF
- Lot size
- 8.93 Acres
- Property subtype
- LIFE_SCIENCE
Listing Agency:
Colliers - Ann Arbor
(734) 994-3100
Listed By:
James H. Chaconas
(734) 994-3100
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Jul 6
Last Checked: Jul 24 at 4:40AM
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 research and development building offers 6,500 square feet of Class 10,000 Clean Room laboratory space, professional office space, and warehouse space. The property includes three truck wells and is situated on an 8.9-acre lot that allows for expansion or additional parking. The laboratory provides both wet and dry options, along with amenities such as pressurized air, vacuum air, sinks, potable water, DI water sources, dedicated fume hoods, central exhaust systems, 110/210 power, phone, and internet. The property is located at a corner location on S State Street, near the Ann Arbor Municipal Airport and established technology, industry, and R & D campuses and businesses. It provides quick access to I-94, downtown Ann Arbor, and surrounding communities. The building has +/- 11,145 SF currently leased to 5 tenants. The owner would consider leasing (+/- 4,000 SF) space, if desired. The property size is 28,176 square feet.
Key Highlights
- State‑of‑the‑art research and development building with 6,500 SF of Class 10,000 Clean Room laboratory space.
- 8.9‑acre lot offering expansion potential or additional parking.
- Ideal corner location near Ann Arbor Municipal Airport, technology businesses, and with quick access to I‑94.
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $439.5k | $15.60 |
| − Vacancy | −$26.4k | −$0.94 |
| EGI | $413.2k | $14.66 |
| − OpEx | −$144.6k | −$5.13 |
| NOI | $268.6k | $9.53 |
28,176 SF · lease $15.60/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$3.84M
$3.36M – $4.48M
NOI $268,562 @ 7.0% cap · market cap 4.75%
Second Best
Warehouse
$2.67M
$2.33M – $3.11M
NOI $186,634 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$6.22M
$5.44M – $7.26M
NOI $435,596 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Michigan Research Institute
Research Institute
Cerenis Therapeutics
Alternative Medicine Practice
ATGC Inc
Construction Company
FAQs
What type of property is this?
Flex space - State-of-the-art R&D building with clean room and warehouse.
Where is this flex space located?
The property is located at 401 W Morgan Rd Ann Arbor, MI.
What is the asking price?
The asking price for this property is $5,658,200.
What are key features of this property?
This property features: State‑of‑the‑art research and development building with **6,500 SF of Class 10,000 Clean Room laboratory space.**; **8.9‑acre lot** offering expansion potential or additional parking.; Ideal corner location near Ann Arbor Municipal Airport, technology businesses, and with quick access to I‑94.
