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    106 S Lafayette St South Lyon, MI 48178

    For Sale
    $1,400,000

    6,800 SF retail building in downtown South Lyon for sale.

    Property size:
    6,800 SF
    Lot size:
    0.23 Acres

    Property Features for 106 S Lafayette St

    General Information

    Size
    6,800 SF
    Lot size
    0.23 Acres

    Source: Colliers Agent Mike Koenigbauer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown South Lyon Retail Building

    A 6,800 SF retail building is available for sale in downtown South Lyon. The building has two tenants with leases commencing in October 2024, one for five years and the other for eight years. The current net operating income is approximately $88,000, with annual rent increases. The building has been completely renovated, including a new roof, split electrical system, new HVAC, and all city code improvements completed. There is a city parking lot adjacent to the property with free parking.
    Insight Report Location Intelligence

    Current Use by Public Records

    24 Hours Garage ... Home Help

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Building Supply Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Lyon
    County
    Oakland
    State
    Michigan
    Longitude
    -83.651791
    Latitude
    42.4603074

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    FAQs

    What type of property is this?
    Retail space - 6,800 SF retail building in downtown South Lyon for sale.
    Where is this retail space located?
    The property is located at 106 S Lafayette St South Lyon, MI.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Completely renovated building featuring a new roof, split electrical system, new HVAC, and city code improvements.; - Two tenant building with leases commencing in October 2024.; - Located in the heart of Downtown South Lyon.
    (248) 540-1000
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    South Lyon, MI 48178
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    106 S Lafayette St South Lyon, MI 48178
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