Flex Industrial Campus with Loading
For Sale
$2,499,999
415 N Lafayette St, South Lyon, MI 48178
Industrial and showroom space with offices and five loading docks, on 4.24 acres and designed for distribution or manufacturing operations.
Property Size35,105 SF
Price / SF$71.21
Days on Market164
Property Features for 415 N Lafayette St
General Information
Standard status
Active
Size
35,105 SF
Taxes and HOA fees
Annual Taxes
$34,832
Listing Agency:
Avera Realty
(734) 330-6501
Listed By:
Ron Yarbrough · License #6501388642
(734) 330-6501
Source:
Exprealty
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 8 at 3:31PM
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 Avera Realty
Investment Insights
Based on property information with market context.
This for-sale industrial flex campus totals 35,105 sq. ft. of usable space across two buildings on 4.24 acres. The property is set up with five loading docks, a fire hydrant, and a retention pond, supporting day-to-day logistics and operations. The front building includes abundant office space on the first floor, plus a second-floor office and conference room. A showroom area is also in place, currently arranged to display products, with the layout allowing for alternative uses.
The site is located at 415 N Lafayette St in South Lyon, Michigan, and is described as being centrally located in Southeastern Michigan. The front building provides an opportunity for business visibility and signage, while the overall site configuration supports operational activity on multiple fronts.
The back building was built in 2014 and includes 10-inch concrete floors, offering a solid platform for production, assembly, and distribution. With its loading access and built-out office and showroom components, the space can work for manufacturing and logistics users, as well as companies looking for a combined operations and customer-facing presence. Developers and industrial operators may also evaluate the property as a potential industrial park configuration. For details on availability and fit, contact the listing agent.
The site is located at 415 N Lafayette St in South Lyon, Michigan, and is described as being centrally located in Southeastern Michigan. The front building provides an opportunity for business visibility and signage, while the overall site configuration supports operational activity on multiple fronts.
The back building was built in 2014 and includes 10-inch concrete floors, offering a solid platform for production, assembly, and distribution. With its loading access and built-out office and showroom components, the space can work for manufacturing and logistics users, as well as companies looking for a combined operations and customer-facing presence. Developers and industrial operators may also evaluate the property as a potential industrial park configuration. For details on availability and fit, contact the listing agent.
Key Highlights
- 4.24‑acre industrial site with over 35,000 sq ft of usable space
- Includes 5 loading docks, supporting distribution, logistics, and manufacturing uses
- Back building built in 2014 with 10‑inch concrete floors and 18,000 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$211,204
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,224,080
$4.2M
Cap Rate 7%
$3,017,200
$3.0M
Cap Rate 9%
$2,346,711
$2.3M
Market Conditions
NOI Build-Up for 35,105 SF
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.
Gross rent
$258.0K $7.35/SF
− Vacancy
−$9.5K −$0.27/SF
EGI
$248.5K $7.08/SF
− OpEx
−$37.3K −$1.06/SF
NOI
$211.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,224,080
Cap Rate 7%
$3,017,200
Cap Rate 9%
$2,346,711
Alternative Uses
Best Use
Flex RnD
$5.19M
$4.54M – $6.05M
NOI $363,084 @ 7.0% cap · market cap 14.52%
Second Best
Warehouse
$3.02M
$2.64M – $3.52M
NOI $211,204 @ 7.0% cap · market cap 8.45%
Theoretical Best
Specialty Retail
$7.57M
$6.63M – $8.83M
NOI $530,029 @ 7.0% cap · market cap 21.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
194
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial and showroom space with offices and five loading docks, on 4.24 acres and designed for distribution or manufacturing operations.
Where is this flex space 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 $2,499,999.
What are key features of this property?
This property features: 4.24‑acre industrial site with over 35,000 sq ft of usable space; Includes 5 loading docks, supporting distribution, logistics, and manufacturing uses; Back building built in 2014 with 10‑inch concrete floors and 18,000 sq ft
