Owner-User Retail
101 N Lafayette St. South Lyon, MI 48178
101 N Lafayette St., South Lyon, MI, 48178
$750,000
For Sale
$750,000
Owner-user retail building for sale with an available 18-year home/gift shop business option.
Property Size3,784 SF
Price / SF$198.20
Days on Market50
Property Features for 101 N Lafayette St.
General Information
- Standard status
- Active
- Size
- 3,784 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1900
Listing agency
(248) 476-3494
Listed by
Eric Szerlag
Source
Thomasduke
Added: Jun 2 Updated: Jul 20 at 5:00PM Checked: Jul 21 at 3:52AM
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 Eric Szerlag
Investment Insights
Based on property information with market context.
This for-sale owner-user building offers 3,784 square feet and is currently set up for a home/gift shop. The property is also offered with the related business, which has been operating for 18 years, and the owner is seeking a sale that includes both the business and the building.
The building is located in downtown South Lyon at the intersection of Lafayette (Pontiac Trail) and Lake Street (10 Mile). The remarks indicate the business draws customers from outside city areas.
The property also presents an opportunity to convert the second floor into apartments, subject to applicable requirements.
The building is located in downtown South Lyon at the intersection of Lafayette (Pontiac Trail) and Lake Street (10 Mile). The remarks indicate the business draws customers from outside city areas.
The property also presents an opportunity to convert the second floor into apartments, subject to applicable requirements.
Key Highlights
- 3,784 SF owner‑user building for sale in downtown South Lyon, Michigan
- Located at the main intersection of Lafayette (Pontiac Trail) and Lake Street (10 Mile) in downtown South Lyon
- Business option: 18‑year home/gift shop business available for $450,000 with flexible terms
Local Financial Insights For Retail
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 | $63.6k | $16.80 |
| − Vacancy | −$5.4k | −$1.43 |
| EGI | $58.2k | $15.37 |
| − OpEx | −$17.5k | −$4.61 |
| NOI | $40.7k | $10.76 |
3,784 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$581.7K
$509.0K – $678.6K
NOI $40,717 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$816.2K
$714.2K – $952.2K
NOI $57,132 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Corner Social
Cafe & Coffee Shop
Grande Trunke Home
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- South Lyon Flowers and Gifts — 644 N Lafayette St, South Lyon, MI 48178
FAQs
What type of property is this?
Storefront property - Owner-user retail building for sale with an available 18-year home/gift shop business option.
Where is this storefront property located?
The property is located at 101 N Lafayette St. South Lyon, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,784 SF owner‑user building for sale in downtown South Lyon, Michigan; Located at the main intersection of Lafayette (Pontiac Trail) and Lake Street (10 Mile) in downtown South Lyon; Business option: 18‑year home/gift shop business available for $450,000 with flexible terms
