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    3131 State St Ann Arbor, MI 48108

    Sponsored
    For Lease
    $20 SF/Yr

    Ann Arbor Office Space, Multiple Suites Available

    Lot size:
    67,908 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Waterworks Plaza, located at 3131 S State St, Ann Arbor, MI 48108, offers a unique office opportunity. This two-building complex, situated on six acres, provides a tranquil park-like setting with a stream running between the buildings. The property features a total of 67,908 square feet of office space, spread across two three-story buildings, built in 1976 and renovated in 2007. The property is classified as Class B and offers various suite sizes, with a minimum divisible space of 550 square feet and a maximum contiguous space of 2,562 square feet. Seven total suites are available, with 8,084 square feet currently vacant. The property is suitable for a variety of office uses, including traditional office, executive office, and medical office spaces, reflecting its versatile design. Each suite boasts an impressive 11-foot ceiling height. The property's APN is 09-12-09-200-027 thru 083. This prime Ann Arbor location offers a blend of serene natural beauty and convenient accessibility, making it an ideal location for businesses seeking a productive and aesthetically pleasing work environment. The property's multiple tenancy allows for flexibility in leasing options.

    Property Features for 3131 State St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    67,908 SF
    Class
    B
    Total Rate
    114481.57

    Building Details

    Year Built/Renovated
    1976/2007
    Buildings
    2
    Stories
    3

    Unit(s) available at that property

    Space
    3131 - 302
    Size
    1,242 SF
    Rate per SF
    $22
    Space
    3131 - Suite 309
    Size
    2,562 SF
    Rate per SF
    $20
    Space
    3135 - suite 207
    Size
    550 SF
    Rate per SF
    $21
    Space
    3135 - Suite 107
    Size
    940 SF
    Rate per SF
    $20
    Space
    3135 - Suite 200
    Size
    750 SF
    Rate per SF
    $20
    Space
    3135 - suite 202
    Size
    1,150 SF
    Rate per SF
    $20
    Space
    3135 - suite 200 Bridge
    Size
    890 SF
    Rate per SF
    $20

    HighLights

    • High‑visibility location directly across from Briarwood Mall, with convenient I‑94 freeway access.
    • Prime Ann Arbor location.
    • High‑speed internet access via building‑wide fiber optics.
    • Monument signage opportunity on State Street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Official Driving School Driving School Train Better Personal ... Personal Trainer Dr. Joseph A. Valle, ... Occupational Medical Physician Burke Michael D ... Doctor Paige Neal Social Worker

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.73768573
    Latitude
    42.24197557

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    FAQs

    What type of property is this?
    Medical office - Ann Arbor Office Space, Multiple Suites Available
    Where is this medical office located?
    The property is located at 3131 State St Ann Arbor, MI.
    What is the lease rate?
    The lease rate is $20-$22 SF/Yr.
    What are key features of this property?
    This property features: High-visibility location directly across from Briarwood Mall, with convenient I-94 freeway access.; Prime Ann Arbor location.; High-speed internet access via building-wide fiber optics.
    Request Owner's contact information
    3131 State St Ann Arbor, MI 48108
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    Ann Arbor, MI 48108
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3131 State St Ann Arbor, MI 48108
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