According to the Sims Wiki, the Science Lab "is where Sims can get a job in the Science Career, attend Logic, Gardening, Inventing, Science and Scuba Diving classes. Sims can also tour the science lab. If a Sims is collecting insects they can sell them as specimens to the lab. Donating insects is slightly more rewarding than selling them via the inventory, so it is worth the trip. Sims can WooHoo in these rabbit holes, but they might get caught by security and be asked to leave. This is also one of the properties Sims can partner with and own in The Sims 3. It's the most expensive but also the most profitable. If Ambitions is installed, the firefighter profession has a special disaster, which is a Space-Time Rift. If a Sim gets the Oh My Ghost! opportunity, they can take a loved one's urn to the lab for testing and restore them as a playable ghost."
See also: Hospital and Science Lab.
World: Barnacle Bay, Hidden Springs
Name: Landgraab Industries Science Facility (aka Savvy Science Facility, Center for Naturally Scientific Studies)
Size: 64 x 30, 50 x 40
Cost: N/A
World: Bridgeport
Name: Landgraab Marine Science Facility
Size: 64 x 39
Cost: $140,000
World: Dragon Valley
Name: Myth, Legend, Lore, and Fact Facility
Size: 30 x 30
Cost: $140,000
World: Isla Paradiso
Name: Nautilus Laboratories
Size: 50 x 60
Cost: $140,000
World: Lucky Palms
Name: Area-52 Test Labs
Size: 40 x 40
Cost: $140,000
World: Lunar Lakes
Name: The Perigee
Size: 64 x 64
Cost: N/A
World: Midnight Hollow
Name: Fascinating Facts Observatory
Size: 30 x 20
Cost: $140,000
World: Riverview
Name: Soil and Water Research Facility
Size: 24 x 40
Cost: $140,000
World: Roaring Heights
Name: Dr. Terrible’s Science Building
Cost: $16,265
World: Sunlit Tides
Name: Serpentine Labs
Size: 40 x 40
Cost: $140,000
World: Sunset Valley
Name: Landgraab Industries Science Facility
Size: 64 x 64
Cost: $140,000
Note: Actually classified as a Fishing Hole.
World: Twinbrook
Name: Industrial Point Science Facility
Size: 40 x 24
Cost: $140,000
Which is your favorite Science Lab?