South Lyon Warehouse Complex For
415 N Lafayette St, South Lyon, MI 48178
For Sale
Contact for pricing
Two-building complex totaling 37,450 SF on 4.2 acres.
Property Size37,450 SF
Lot Size4.20 Acres
Price / SF$102.80
Days on Market773
Property Features for 415 N Lafayette St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Building Details
Year Built
Listing Agency:
Signature Associates
Listed By:
Steve Gordon · License #MI 6502134760
(249) 613-9700
Source:
Crexi
Added: Sep 26, 2024
Changed: Aug 8
Last Checked: Aug 25 at 4:57AM
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 Signature Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property features a two-building complex totaling 37,450 square feet situated on 4.2 acres. The front building encompasses 19,450 square feet and includes office spaces, a showroom, and a warehouse area. It is equipped with two overhead doors and four truckwells. The rear building, constructed in 2019, offers 18,000 square feet of clear span space, measuring 60 feet by 300 feet, with a 20-foot clearance height. This building also includes three overhead doors and two truckwells. The property is fenced. Seller financing is possible.
Key Highlights
- Two buildings totaling 37,450 sq. ft. on 4.2 acres.
- Newer (2019) 18,000 sq. ft. clear span building with 20' clearance.
- Front building includes offices, showroom, and warehouse.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,312
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,506,240
$4.5M
Cap Rate 7%
$3,218,743
$3.2M
Cap Rate 9%
$2,503,467
$2.5M
Market Conditions
NOI Build-Up for 37,450 SF
Gross rent
$275.3K $7.35/SF
− Vacancy
−$10.2K −$0.27/SF
EGI
$265.1K $7.08/SF
− OpEx
−$39.8K −$1.06/SF
NOI
$225.3K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,506,240
Cap Rate 7%
$3,218,743
Cap Rate 9%
$2,503,467
Alternative Uses
Best Use
Retail
$5.76M
$5.04M – $6.72M
NOI $402,977 @ 7.0% cap · market cap 10.47%
Second Best
Warehouse
$3.22M
$2.82M – $3.76M
NOI $225,312 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$8.08M
$7.07M – $9.42M
NOI $565,435 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48178, MI
36,858
Population
14,402
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
48.0 sq mi
ZIP Area
768
Density / Sq Mi
$130,781
Median Household Income
$70,253
Median Earnings
$1,231
Median Rent
$392,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Oakland County, MI
Properties on Market for Warehouses in Oakland County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- SpareBox Storage — 271 Lottie St, South Lyon, MI 48178
- Self Storage Secure — 626 N Lafayette St, South Lyon, MI 48178
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building complex totaling 37,450 SF on 4.2 acres.
Where is this warehouse located?
The property is located at 415 N Lafayette St South Lyon, MI.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Two buildings totaling 37,450 sq. ft. on 4.2 acres.; Newer (2019) 18,000 sq. ft. clear span building with 20' clearance.; Front building includes offices, showroom, and warehouse.
