Ann Arbor R&D
401 W Morgan Rd Ann Arbor, MI 48108
401 W Morgan Rd, Ann Arbor, MI, 48108
Contact for pricing
For Sale
Contact for pricing
State-of-the-art R&D building with clean room and warehouse.
Property Size28,176 SF
Lot Size8.90 Acres
Price / SF$200.82
Days on Market1349
Property Features for 401 W Morgan Rd
General Information
- Standard status
- Active
- Size
- 28,176 SF
- Lot size
- 8.90 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1994
Listing Agency
Colliers - Ann Arbor, Michigan
(734) 994-3100
Listed by
Jim Chaconas · License #MI 6502358011
Source
Crexi
Added: Nov 10, 2022 Updated: Jul 10 at 3:43 pm Checked: Jul 20 at 3:56 am
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, Michigan
Investment Insights
Based on property information with market context.
This state-of-the-art research and development building offers a rare ownership opportunity. The property includes 500 square feet of Class 10,000 Clean Room laboratory space, professional office areas, and warehouse space. It features three truck wells and is situated on an 8.9-acre lot, offering potential 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 on a corner lot 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 is currently partially leased with 5 tenants occupying approximately 11,145 square feet. The owner would consider leasing approximately 4,000 square feet of space if desired. The total property size is 28,176 square feet.
Key Highlights
- 500 sq ft Class 10,000 Clean Room laboratory space.
- 8.9‑acre lot with expansion potential and additional parking.
- Wet and dry laboratory options with specialized amenities.
Local 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
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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: 500 sq ft Class 10,000 Clean Room laboratory space.; 8.9‑acre lot with expansion potential and additional parking.; Wet and dry laboratory options with specialized amenities.
