201 Mill St South Lyon, MI 48178
- Commercial real estate
Current Use by Public Records
- ADVANCED ENGINEERING INDUSTRIES / Machining Manufacturer
- National Mechanix / Auto Repair Shop
Property Details for 201 Mill St
- Property type
- Commercial real estate
- APN
- 80-21-29-601-001
- APU
- 802129601001
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- South Lyon
- County
- Oakland
- State
- Michigan
- Longitude
- -83.6444
- Latitude
- 42.4593
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
