5500 South State Street, Ann Arbor, MI, 48108

5500 South State Street Ann Arbor, MI 48108

5500 South State Street, Ann Arbor, MI, 48108
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FOR SALE FOR LEASE
Property Type:
Warehouse
Amount:
$4,300,000
Last Verified:
Apr 12, 2024

Highlights


Description

SVN | Stewart Commercial Group is pleased to present for sale a +/- 46,356 square foot single-tenant
industrial property located at 5500 S. State, Ann Arbor, MI. The property is currently 100 % occupied with a NN lease in place with tenant Adaptive Energy through 12/31/24. The current tenant has outgrown the space and will not be renewing beyond the current term. This presents a unique opportunity for an investor to enjoy steady and reliable income while a replacement tenant is secured or for a user to do the same as occupancy plans are formulated. Adaptive Energy and its predecessor companies manufacture fuel cells for industry and government use and have occupied the property since 2007. The blended cap rate over the balance of the remaining term is 8.83%


The property is located in the economically diverse community of Ann Arbor, MI which is home to the
world-renowned University of Michigan. The property is located on south State Street and is just two
miles to I-94, the major interstate connector between Detroit and Chicago. The location is in close
proximity to major national retail and the largest concentration of hotel space in the Ann Arbor market.
The property benefits from its location within one of the most highly educated populations in the
Midwest. Downtown Ann Arbor is approximately 5 miles away and the City of Detroit is a mere 40 miles
away.

The building is situated on 4.63 acres and the parking lot and drive area were replaced in October 2018. Three of Four Roof Top Units serving the warehouse portion of the building were replaced in 2022. Two of Three HVAC units serving the office area were replaced in 2021. All lighting in the warehouse was upgraded to LED in 2019. The warehouse/manufacturing area is air-conditioned and sprinkled. The building loading area features 1 grade level overhead door and 15 loading docks, all with levelers in place.

SVN Stewart Commercial Group is pleaased to present for lease ±46,356 SF Single Tenant Industrial buildlng located at 5500 S. State Rd., Ann Arbor, MI. The building is situated on 4.63 acres and the parking lot and drive area were replaced in October 2018. Three of Four Roof Top Units serving the warehouse portion of the building were replaced in 2022. Two of Three HVAC units serving the office area were replaced in 2021. All lighting in the warehouse was upgraded to LED in 2019. The warehouse/manufacturing area is air-conditioned and sprinkled. The building loading area features 1 grade level overhead door and 15 loading docks, all with levelers in place.

The property is located in the economically diverse community of Ann Arbor, MI which is home to the world-renowned University of Michigan. The property is located on south State Street and is just two miles to I-94, the major interstate connector between Detroit and Chicago. The location is in close proximity to major national retail and the largest concentration of hotel space in the Ann Arbor market. The property benefits from its location within one of the most highly educated populations in the Midwest. Downtown Ann Arbor is approximately 5 miles away and the City of Detroit is a mere 40 miles away.

Ann Arbor


Year Built: 1966
Building Size: 46356sq ft
Lot Size: 4.63 acres


Documents

5500 S. State St, Ann Arbor - Lease Brochure
5500 S. State OM V1

Units for Lease

Ann Arbor Industrial For Lease
Space Available: 46356 SF
Lease Type: NNN

Price Per Sqft/Month: $8.75

Map of 5500 South State Street, Ann Arbor, MI, 48108

Presented by:
SVN | Stewart Commercial Group

Request additional information
Dan Stewart, CCIM


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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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"Incentives" are vital today and in the future because:

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