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    500 Stryker St South Lyon, MI 48178

    Sponsored
    For Sale
    $1,500,000

    Prime South Lyon development land, R3 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 6.96-acre parcel, located at 500 Stryker Street in South Lyon, Michigan (Oakland County, zip code 48178), presents a unique investment opportunity. Currently zoned R3 Single Family Residential, this property offers significant potential for various development projects. The asking price is $1,500,000, translating to approximately $215,517 per acre. The property's APN is 21-29-176-012. Its strategic location places it just a short distance from the vibrant downtown area of South Lyon, providing convenient access to local amenities and services. Importantly, this land has a history of approved development, with prior plans encompassing a seven-building apartment complex. While the previous plans are not guaranteed, they demonstrate the feasibility of large-scale residential development on this site. This makes it an attractive proposition for builders and investors seeking to capitalize on the growing demand for housing in the South Lyon area. The expansive lot size provides ample space for a variety of residential projects, offering flexibility and potential for significant returns. Serious inquiries are encouraged to explore the possibilities of this remarkable property.

    Property Features for 500 Stryker St

    General Information

    Property type
    Land
    Lot Size
    303,178 SF

    HighLights

    • 6.96‑acre R‑3 zoned residential land in South Lyon, MI (Oakland County, 48178).
    • Located blocks from Downtown South Lyon.
    • Previously approved for a seven‑building apartment complex.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    South Lyon
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6461585
    Latitude
    42.4566995

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    FAQs

    What type of property is this?
    Land - Prime South Lyon development land, R3 zoning.
    Where is this land located?
    The property is located at 500 Stryker St South Lyon, MI.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 6.96-acre R-3 zoned residential land in South Lyon, MI (Oakland County, 48178).; Located blocks from Downtown South Lyon.; Previously approved for a seven-building apartment complex.
    (248) 476-3700
    Request Owner's contact information
    500 Stryker St South Lyon, MI 48178
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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
    500 Stryker St South Lyon, MI 48178
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