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Research Park Business Center

Off-Market

3885 Research Park Drive, Ann Arbor, MI 48108

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  • Property Type Office - R&D - Office
  • Property Size 31,508 Sqft
  • Lot Size 2.58 Acre
  • Parking Spaces Avail. 94
  • Parking Ratio 3.00/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1988

Location

  • City Ann Arbor, MI
  • Neighborhood Clinton-George
  • Zip Code 48108
  • Market Detroit

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Date 23 Jan, 2013
  • Purchase Price $2,281,000
  • Arm's Length
  • Buyer Name

Market Trends

Average Actual Rents in Ann Arbor

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Ann Arbor Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $26.44
  • 2020 Office Vacancy Rate 9.25 %
  • 2020 Office Completions (Sqft)

Ann Arbor Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2020 Avg. Price per Sqft $155.98
  • Y-o-Y Avg. PpSF Change -23.34 %
  • 2020 Office Sales Volume $42.5M
  • 2020 Number of Transactions 4
View more Ann Arbor market trends

Tax

  • Property Tax in 2021 $108,743
  • Market Value $3,127,400
  • Assessed Value $3,127,400

Find more tax info, including assessment history and abatements, on CommercialEdge

Frequently Asked Questions

What is the total square footage of Research Park Business Center?

Research Park Business Center totals 31,508 square feet.

When was this property built?

Research Park Business Center was built in 1988.

When was Research Park Business Center last sold?

Research Park Business Center was last sold on 23 Jan, 2013.

What was the last purchase price for Research Park Business Center?

Research Park Business Center was last sold for $2,281,000.

What is the property tax for Research Park Business Center?

The property tax for Research Park Business Center in 2021 was $108,743.

What is the market value for Research Park Business Center?

The market value for Research Park Business Center in 2021 was $3,127,400.

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