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Property profile & analytics
OFF-MARKET
Estimated value
$4,955,000
Manufacturing properties
245 Ml St, South Lyon, MI 48178-1813
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0278355
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1988
Total area
64,555 SF
Lot
9.6 ac (418,176 SF)
Zoning code
II
APN
80-21-29-176-026
UPID
US43-0278355
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.92M
Comparable Approach
Comparable
$4.91M
Blend (final)
Blend
$4.96M
Owner & transaction history
245 S Mill St LLC · 3 yrs held
245 S Mill St LLC
since 2022
Last sale
$5.0M
2 recorded transactions
Zoning & alternative use
II · South Lyon, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.9M
+51.4%
Office building
$7.6M
+44.9%
Neighborhood: shopping center
$6.0M
+14.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Lyon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Lyon submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,305,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,330,000
6.5%
$4,920,000
7%
$4,570,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,225,000
Current use
AUTO REPAIR, GARAGE
$7,915,000
Change: +51% · Conversion: Easy
OFFICE BUILDING
$7,570,000
Change: +45% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,010,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$4.96M
Range $4.46M – $5.45M · ±10% · vs last sale $5.00M (Jul 27 2022)
Last sale anchor
$5.00M
Jul 27 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$100,648
Tax year 2023
Assessed value
$1,785,690
Assessed 2024
Previous assessed
$1,677,110
+6.5% YoY
Effective rate
5.64%
On assessed value
Total market value
$3,571,380
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1988
Heating
SPACE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
64,555 SF
Lot
9.6 ac (418,176 SF)
Zoning code
II
APN
80-21-29-176-026
UPID
US43-0278355
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · South Lyon, MI
Zoning II · permitted uses
II · South Lyon, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Lyon. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$7.9M
OFFICE BUILDING
Est. value
$7.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
9.6 ac
Current owner
From public records · entity-resolved
245 S Mill St LLC
Entity
Mailing address
48285 FRANK ST, WIXOM, MI 48393-4712
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2022
$5,000,000
245 S Mill St LLC
H & Z Investments LLC
Warranty Deed
$4,000,000 · Old National Bank
Feb 22, 1999
—
Durr Environmental INC
Engelhard Pollution Control
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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