Commercial Real Estate Market in South Lyon, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
64 active listings and 350 off-market properties in South Lyon, MI. Commercial property asks $25/SF to buy and $16.24/SF/Yr to lease.
Market Trends
South Lyon, MI spans 48.0 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in South Lyon, MI asks $120/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in South Lyon, MI asks $175/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in South Lyon, MI runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in South Lyon, MI asks $159/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
South Lyon, MI has 36,858 residents in 14,402 households. Density runs 769 people per square mile. Median household income here is $130,781 and median gross rent $1,231 a month.
36,858
Population
14,402
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
48 sq mi
ZIP Area
769
Density / Sq Mi
$130,781
Median Household Income
$70,253
Median Earnings
$1,231
Median Rent
$392,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| New Hudson | — | $25.80 |
| Northville | $74 (county avg) | $36.75 |
| Salem | — | — |
| Northfield Township | — | — |
Commercial property in South Lyon, MI asks $25/SF. That compares with $74/SF in Northville.
Frequently Asked Questions
What is the average price per square foot for commercial property in South Lyon?
Commercial property in South Lyon, MI asks an average of $25 per square foot. The 4 most recent recorded sales traded at a median of $207/SF. Retail carries the highest asking price at $175/SF.
How much does it cost to lease commercial space in South Lyon?
Asking lease rates in South Lyon, MI average $16.24 per square foot per year.
How does South Lyon compare to nearby markets on price?
South Lyon, MI asks $25/SF against $74/SF in Northville.
Where does Realmo's South Lyon market data come from?
Realmo compiles South Lyon, MI figures from 6 recent recorded sales, 48 active sale listings, 16 active lease listings, 350 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 48 active for-sale and 16 active for-lease listings in South Lyon, MI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
