Property profile

23333 Griswold Rd South Lyon, MI 48178

OFF-MARKET
Warehouses
Property ID
US43-1796883
44,578 SF 9.8 ac lot Built 1981
Entity Owned 17-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional South Lyon, Michigan industrial property, located at 23333 Griswold Rd, zip code 48178, offers 4,950 square feet of versatile space ideal for manufacturing, warehousing, or distribution. The building, constructed in 1967 and renovated in 2000, sits on a 9.8-acre lot and boasts a total building size of 48,151 square feet. The property features a substantial 41,603 square feet of industrial area with a 40-foot clear height, complemented by 6,548 square feet of office space. Loading is facilitated by eight grade-level doors. The facility includes a one-ton crane for efficient material handling and ample parking with 100 surface spaces. The office space is available in sizes ranging from 1,800 to 3,750 square feet, and warehouse space is 1,200 square feet. Both office and warehouse space are priced at $13.00 per square foot, plus utilities. Fire suppression is in place, meeting ordinary hazard standards. While the property is served by no rail, its strategic location in South Lyon provides excellent access to major transportation routes. This single-tenant property presents a unique opportunity for businesses seeking a well-maintained and functional industrial space. The two-story building offers a blend of modern updates and established infrastructure, making it an attractive option for a variety of industrial operations.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1981
Total area 44,578 SF
Lot 9.8 ac (426,888 SF)
Zoning code II
APN K -21-29-426-002
UPID US43-1796883

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gym & Fitness Center Sports Field & Court
  • Gym & Fitness Center
  • Sports School
  • Hotel & Motel Resort
  • Production Facility Furniture & Home Goods

Location

23333 Griswold Rd South Lyon, MI 48178-8739
South Lyon metro Census 138100 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.38M
Blend (final) Blend
$1.36M

Owner & transaction history

since 2008
2 recorded transactions
2008
$1.3M
1998
Price N/A

Zoning & alternative use

II · South Lyon, MI
Top alternative use upside
Auto repair, garage $5.5M +60.5%
Office building $5.2M +53.6%
Neighborhood: shopping center $4.2M +21.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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