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    201 Mill St South Lyon, MI 48178

    Sponsored
    For Sale
    $2,995,000

    Thriving Auto Business & Real Estate

    Property size:
    14,938 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a well-established auto shop in South Lyon, Michigan, boasting a substantial 14,938 square feet across four buildings situated on a 1.389-acre lot. The property, located at 201 S Mill St, 48178, offers a strong 8.71% cap rate with a Net Operating Income (NOI) of $261,000, reflecting a compelling return on investment. Built in 1940, the property includes a thriving auto repair business, generating significant revenue. Further enhancing the profitability, the sale includes an additional income stream of approximately $3,000 per month from lot rentals, adding to the overall financial performance. The property's prime location near downtown South Lyon provides excellent visibility and accessibility, contributing to the business's success. The sale includes the land, buildings, and the established business, presenting a turnkey opportunity for an investor seeking a profitable and established enterprise. The property's parcel number is 21-29-176-025. This is a rare chance to acquire a profitable, established business with significant real estate value in a desirable location. The asking price for this exceptional package is $2,995,000.

    Property Features for 201 Mill St

    General Information

    Property type
    Automotive properties
    Square Feet
    14,938 SF
    Lot Size
    60,505 SF

    Building Details

    Year Built
    1940
    Buildings
    4

    HighLights

    • Established auto repair business with strong revenue.
    • Additional $3,000/month income from lot rentals.
    • 1.4‑acre lot with four buildings totaling 14,938 square feet.
    • Prime location near downtown South Lyon.
    Property Profile Location Intelligence

    Current Use by Public Records

    ADVANCED ENGINEERING INDUSTRIES Machining Manufacturer National Mechanix Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    South Lyon
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6445062
    Latitude
    42.4594523

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    FAQs

    What type of property is this?
    Automotive property - Thriving Auto Business & Real Estate
    Where is this automotive property located?
    The property is located at 201 Mill St South Lyon, MI.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: Established auto repair business with strong revenue.; Additional $3,000/month income from lot rentals.; 1.4-acre lot with four buildings totaling 14,938 square feet.
    Request Owner's contact information
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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
    201 Mill St South Lyon, MI 48178
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