Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    106 Lafayette St South Lyon, MI 48178

    • Retail space
    • 6,782 SF
    • 0.24 lot acres
    For Sale
    View listing
    $1,400,000
    Value Estimation
    Location Intelligence
    Property ID
    US43-4440855
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • 24 Hours Garage Door Solutions / Home Help / Garage Door Supplier

    Property Details for 106 Lafayette St

    Year built
    1966
    Lot size
    0.24 lot acres
    Property size
    6,782 SF
    Zone code
    BI
    Property type
    Retail space
    APN
    80-21-30-228-014
    APU
    802130228014

    Description

    This exceptional 6,800 square foot retail storefront, located at 106 S Lafayette St in the heart of downtown South Lyon, Michigan (48178), presents a compelling investment opportunity. Priced at $1,400,000, the property boasts a strong current net operating income of approximately $88,000, projected to increase annually due to built-in rent escalations within the existing leases. The building is a two-tenant property with leases commencing October 2024, offering lease terms of five and eight years respectively, providing long-term stability for the investor. Recent comprehensive renovations have enhanced the property's value and functionality. These upgrades include a new roof, a modernized split electrical system, a new HVAC system, and the completion of all necessary city code improvements. The property benefits from its convenient location, with a city-owned parking lot directly adjacent, ensuring ample free parking for tenants and customers. This turnkey investment offers a blend of immediate income generation and long-term growth potential in a thriving downtown area. The property is classified as a NNN lease type.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Lyon
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6518
    Latitude
    42.4603
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,666
    $0.00
    $0.00
    $174,430
    -
    $0.00
    $0.00
    $348,860

    Comparable in this City

    • Value Estimation by Request
      1,792 SF

      107 Lafayette St

      RETAIL STORES (PERSONAL SERVICES) • 1,792 SF
      107 Lafayette St, South Lyon, MI 48178-1210
      View Details
    • Value Estimation by Request
      7,916 SF

      118 Lk St

      RETAIL STORES (PERSONAL SERVICES) • 7,916 SF
      118 Lk St, South Lyon, MI 48178-1409
      View Details
    • Value Estimation
      $495,000
      2,094 SF

      110 Lafayette St

      RETAIL STORES (PERSONAL SERVICES) • 2,094 SF
      110 Lafayette St, South Lyon, MI 48178-1211
      View Details
    • Value Estimation by Request
      408 SF

      111 Lk St

      RETAIL STORES (PERSONAL SERVICES) • 408 SF
      111 Lk St, South Lyon, MI 48178-1408
      View Details
    • Value Estimation by Request
      3,430 SF

      105 Lafayette St

      RETAIL STORES (PERSONAL SERVICES) • 3,430 SF
      105 Lafayette St, South Lyon, MI 48178-1921
      View Details
    • Value Estimation by Request
      2,526 SF

      115 Lk St

      RETAIL STORES (PERSONAL SERVICES) • 2,526 SF
      115 Lk St, South Lyon, MI 48178-1408
      View Details

    Similar Nearby for Sale

    • $1,400,000
      6,800 SF

      Downtown South Lyon Retail Building

      6,800 SF Storefront, $1.4M Asking
      106 Lafayette St, South Lyon, MI 48178
      View Details
    • $1,400,000
      6,800 SF

      Downtown South Lyon Retail Building

      6,800 SF retail building in downtown South Lyon for sale.
      106 S Lafayette St, South Lyon, MI 48178
      View Details
    • $374,900

      Historic Building in Downtown

      Historic South Lyon building with retail and renovation potential.
      116 E Lake St, South Lyon, MI 48178
      View Details
    • $895,000
      2,062 SF

      Freestanding Building with Drive-Thru

      2,062 SF renovated building with drive-thru in South Lyon.
      22990 Pontiac Trl, South Lyon, MI 48178
      View Details
    • $1,429,000
      3,784 SF

      Established Business and Historic Building

      Home decor and gift shop with real estate for sale.
      101 N Lafayette St, South Lyon, MI 48178
      View Details
    • $5,100,000
      14,820 SF

      South Lyon Walgreens For Sale

      14,820 SF Walgreens in South Lyon, Michigan.
      22318 Pontiac Trl, South Lyon, MI 48178
      View Details

    Similar Nearby for Lease

    • $795 /Mo

      Downtown South Lyon Commercial Space

      Commercial space for lease in the heart of downtown.
      161 Whipple St, South Lyon, MI 48178
      View Details
    • New
      $8,000 /Mo
      13,000 SF

      South Lyon Commercial Building For Lease

      13,000 SF commercial building in prime location on Pontiac Trail.
      28342 Pontiac Trail Rd, South Lyon, MI 48178
      View Details
    • $20 SF/Yr
      3,000 SF

      Retail Space in Grocery-Anchored Center

      Retail space available in a high-income, growing residential area.
      22385 Pontiac Trl, South Lyon, MI 48178
      View Details
    • Contact for pricing
      6,575 SF

      Retail Space with Kitchen Infrastructure

      Retail space with kitchen infrastructure in walkable downtown location.
      264-304 N Lafayette St, South Lyon, MI 48178
      View Details
    • $24 SF/Yr
      11,180 SF

      South Lyon Retail Space - 11,180 SF

      Prime South Lyon retail/office space, 11,180 sq ft, ample parking.
      25610 Pontiac Trail Rd, South Lyon, MI 48178
      View Details
    • $17 SF/Yr
      1,270 SF

      South Lyon Retail Center Space

      Retail space available in a growing South Lyon community.
      21200 Pontiac Trl, South Lyon, MI 48178
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    106 Lafayette St
    South Lyon, MI 48178
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.