Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land For Sale Title is generated by Realmo AI

    24133 Napier Road, South Lyon, MI 48178

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land available for sale.

    Type:Land
    Added:
    Aug 6, 2021
    Days on Market:
    1752
    Last Refresh:
    May 19 at 10:30 pm

    Property Features for 24133 Napier Road

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Eric Szerlag
    Eric Szerlag

    Listing agent Eric Szerlag License #MI 6501343471

    Listing office Thomas Duke Company

    Listing date Aug 6, 2021

    Source Crexi

    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 Thomas Duke Company

    HighLights

    • No property information was provided to extract selling points.

    Overview

    The property, identified as land, is available for sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Hair Salon Gym & Fitness Center Pharmacy Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    South Lyon
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5542959
    Latitude
    42.4627232

    Nearby Similar for Sale

    • $453,500

      Large South Lyon Acreage

      43.5 acre build site or hunting land in Green Oak.
      21193 N Dixboro Road, South Lyon, MI 48178
      View Details
    • $350,000
      1,559 SF

      South Lyon Live/Work Opportunity

      Commercial building and home on 1.16 acres near downtown.
      7300 Pontiac Trail, South Lyon, MI 48178
      View Details
    • $499,900

      46 Acres Vacant Land

      46 acres of vacant land with potential build sites.
      000 Marshall, South Lyon, MI 48178
      View Details
    • $269,900

      South Lyon Land Opportunity

      Three-acre partially wooded lot in a growing, popular area.
      22987 Clarkshire Drive, South Lyon, MI 48178
      View Details
    • $165,000

      South Lyon 5.5 Acre Build-Site

      5.5 acre lot with mature trees, suitable for building.
      20955 N Dixboro Road, South Lyon, MI 48178
      View Details
    • $24,000

      Vacant Land in Green Oak

      Vacant land parcel in Green Oak Township, Livingston County.
      Hillview, South Lyon, MI 48178
      View Details
    • $799,900

      Residential Land in Lyon Township

      Over 6 acres of residentially zoned land for redevelopment.
      52485 10 Mile Road, Lyon Twp, MI 48178
      View Details
    • $288,500

      Large Acreage Land Parcel

      38-acre lot perfect for building, hunting, or nature enthusiasts.
      21433 N Dixboro Road, South Lyon, MI 48178
      View Details
    • $499,000

      South Lyon Duplex Investment Opportunity

      Newer construction duplex in South Lyon, ideal for investors.
      22174 Brookfield Dr, South Lyon, MI 48178
      View Details
    • $98,900

      Residential Lot Near South Lyon

      Buildable 0.97-acre residential lot near downtown South Lyon.
      22622 Pine Drive, Lyon Twp, MI 48178
      View Details
    • $595,000

      South Lyon Multi-Family Zoned Land

      3.30 acre multi-family zoned build-site in South Lyon, MI.
      27491 Pontiac Trail, South Lyon, MI 48178
      View Details
    • $1,199,900

      Prime Corner Land Opportunity

      15.9 acres at a busy intersection with commercial/residential zoning.
      7 MILE Road, Salem Twp, MI 48178
      View Details

    FAQs

    What type of property is this?
    Land - Land available for sale.
    Where is this land located?
    The property is located at 24133 Napier Road 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: No property information was provided to extract selling points.
    (248) 476-3700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Szerlag
    Eric Szerlag
    Real Estate License ID: MI 6501343471
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24133 Napier Road, Lyon Township, MI 48178
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!