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    116 E Lake St South Lyon, MI 48178

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    For Sale
    $374,900

    Historic South Lyon building with retail and renovation potential.

    Lot size:
    0.05 Acres

    Property Features for 116 E Lake St

    General Information

    Lot size
    0.05 Acres

    Building Details

    Year built
    1870

    Source: Mayfair Real Estate Group Agent Abraham Ayoub

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

    Overview

    Historic Building in Downtown

    This historic building, situated in the heart of downtown South Lyon, offers approximately 2,000 square feet on the main level and an additional 1,500 square feet of blank canvas space upstairs. The building features a newer 90+ furnace, on-demand hot water, and a newer electrical box. A bathroom is located on the main level. The rubber roof was replaced approximately six years ago. The upstairs area presents renovation potential for rental income. This property offers an opportunity to own a piece of local history.
    Insight Report Location Intelligence

    Current Use by Public Records

    MILOCKERROOM Clothing Store

    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.

    Similar Places Nearby

    South Lyon Flowers and Gifts

    Location Insight

    • Map
    • Local Demand
    City
    South Lyon
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6508994
    Latitude
    42.4604268

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    FAQs

    What type of property is this?
    Storefront property - Historic South Lyon building with retail and renovation potential.
    Where is this storefront property located?
    The property is located at 116 E Lake St South Lyon, MI.
    What is the asking price?
    The asking price for this property is $374,900.
    What are key features of this property?
    This property features: - Historic building in the heart of downtown South Lyon; - Large space: 2,000 sq ft on the main level plus 1,500 sq ft upstairs; - Upstairs offers a blank canvas for renovation and potential rental income
    (248) 486-9227
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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
    116 E Lake St South Lyon, MI 48178
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