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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Industrial properties
415 Lk St, South Lyon, MI 48178-1569
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US43-1285014
Property summary
AI-generated overview
This exceptional Class A flex building, located at 415 E Lake Street in South Lyon, Michigan, presents a compelling investment opportunity. Boasting 27,000 square feet of net rentable space across two single-story buildings, this property offers significant potential for a variety of uses. Constructed in 2006, the building features a 20-foot ceiling height, three dock-high doors, and ample parking. Situated on a 2.39-acre lot in Oakland County, the property benefits from its prime location, just blocks from downtown South Lyon, at a high-traffic intersection with excellent visibility. The permitted zoning is industrial, making it suitable for a range of businesses. Currently occupied by a hardware store (available for separate sale), this property is ideal for retail, food service, fitness, or flex space uses. The asking price is $3,500,000. The property's address is 415 E Lake St, South Lyon, MI 48178, and its APN is 80-21-20-326-015. This is a single-tenancy property with excellent exposure and access for clients.
Property profile
Verified
Property type
Industrial properties
Use group
LUMBERYARD, BUILDING MATERIALS
Year built
1950
Total area
24,091 SF
Lot
2.39 ac (104,108 SF)
Zoning code
II
APN
80-21-20-326-015
UPID
US43-1285014
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
Current use
Occupant on record · Public records
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Peter's True Value Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.00M
Owner & transaction history
Jacobs Real Estate Group LLC
Jacobs Real Estate Group LLC
since 2025
Last sale
$3.0M
6 recorded transactions
Zoning & alternative use
II · South Lyon, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,535,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$3,305,000
Change: 0% · Conversion: Difficult
RESTAURANT
$3,290,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$2,405,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,245,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,940,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10% · vs last sale $3.00M (Jun 11 2025)
Last sale anchor
$3.00M
Jun 11 2025
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
$125 / 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
$21,328
Tax year 2023
Assessed value
$464,070
Assessed 2024
Previous assessed
$448,960
+3.4% YoY
Effective rate
4.60%
On assessed value
Total market value
$928,140
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
Industrial properties
Use group
LUMBERYARD, BUILDING MATERIALS
Status
Off-Market
Year built
1950
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
24,091 SF
Lot
2.39 ac (104,108 SF)
Zoning code
II
APN
80-21-20-326-015
UPID
US43-1285014
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
COMMERCIAL (GENERAL)
Est. value
$3.5M
RETAIL STORES
Est. value
$3.3M
RESTAURANT
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1950
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
2.39 ac
Current owner
From public records · entity-resolved
Jacobs Real Estate Group LLC
Entity
Mailing address
3455 W HIGHLAND RD, MILFORD, MI 48380-1113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2025
$3,000,000
Jacobs Real Estate Group LLC
Peters Hardware South Lyon INC
Warranty Deed
$2,400,000 · Bank Of Ann Arbor
Jun 4, 2010
—
Ptv Enterprises INC
Grove Property LLC
Warranty Deed
$450,000 · Huron Valley State Bank
Aug 3, 2004
—
Grove Property LLC
Mgw Ents LLC
Warranty Deed
$1,550,000 · Huntington National Bank
Mar 13, 2000
—
Grove Property LLC
Mgw Enterprises LLC
Trustees Deed
related
—
—
—
Grove Property LLC
—
Deed Of Trust
related
$1,350,000 · Citizens Federal Bank Fsb
—
—
Peters Hardware South Lyon In
—
Deed Of Trust
related
$1,400,000 · Huron Vly State Bk
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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