Property profile

385 Ml St South Lyon, MI 48178

OFF-MARKET
Industrial land
Property ID
US43-2543175
2 ac lot
Entity Owned 10-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 18,000-square-foot industrial warehouse, located at 385 N Mill St in South Lyon, Michigan, presents a compelling investment opportunity. Priced at $1,500,000 ($83.33/sq ft), this single-story, Class C building sits on a 1.33-acre lot and boasts a desirable I-1 Industrial zoning. Built in 1960, the property features an impressive 18-foot ceiling height at the ridge and 12-foot clearance at the haunch, providing ample storage and operational space. Access is facilitated by a 10' x 12' drive-in door. The warehouse is equipped with 480v buss ducts and a compressed air loop, enhancing its functionality. Power is supplied by pole-mounted transformers, feeding a main switchgear rated for 1600 amp service at 480/277 volts. Parking is available for 15 vehicles. The property's convenient location offers close proximity to downtown South Lyon. Additional land may be available for expansion. The property's APN is 21-20-326-011, and the zip code is 48178. This free-standing warehouse is ideal for a variety of industrial uses.

Property profile

Verified
Property type Industrial land
Use group INDUSTRIAL - VACANT LAND
Lot 2 ac (87,120 SF)
Zoning code IV
APN 80-21-20-326-002
UPID US43-2543175

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
  • Factory Industrial Manufacturer
  • Construction Company General Contractor
  • Industrial Manufacturer

Location

385 Ml St South Lyon, MI 48178-1262
South Lyon metro Census 139400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2016
4 recorded transactions
2016
$103,500
2015
Price N/A
2014
Price N/A
2014
Price N/A

Zoning & alternative use

IV · South Lyon, MI

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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