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Property profile & analytics
FOR SALE
Warehouses
415 N Lafayette St South Lyon, MI 48178
Individually Owned
Free & Clear
Property ID
US43-0707708
For Sale
1 / 6
Contact for pricing
415 N Lafayette St, South Lyon, MI 48178
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Property summary
AI-generated overview
This exceptional industrial property in South Lyon, Michigan, presents a unique investment opportunity. The complex comprises two buildings totaling 37,450 square feet on a 4.2-acre fenced lot. The front building, constructed in 1954 and renovated in 2017, offers 19,450 square feet, encompassing office space, a showroom, and warehouse area with two overhead doors and four truckwells. The rear building, a newer addition completed in 2019, boasts 18,000 square feet of clear-span warehouse space (60' x 300'), featuring 20-foot ceilings, three overhead doors, and two truckwells. The property is zoned for light industrial use and includes a total of six loading docks and eleven dock-high doors. The asking price is $3,850,000, with seller financing a possibility. This property is located at 415 N. Lafayette St, South Lyon, MI 48178, and features a ceiling height ranging from 16 to 20 feet. The property's APN is 21-19-476-008. This is a single-tenant property. The building is one story.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1954
Total area
35,185 SF
Lot
4.24 ac (184,694 SF)
Zoning code
II
APN
80-21-19-476-008
UPID
US43-0707708
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
-
Genesis Psychological Services Physician Medical Clinic
-
Erica Hubbell Foster Care Service Social Service Agency
-
Day James L PhD Physician Medical Clinic
-
Michigan Life & Health Insurance Insurance Agency
-
Mortgage 1 South Lyon Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$1.87M
Owner & transaction history
CHARLES B PULLUM
CHARLES B PULLUM
Zoning & alternative use
II · South Lyon, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning Ordinance FINAL with hyperlinks
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
WAREHOUSE, STORAGE
$2,685,000
Current use
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±10%
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
$53 / 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
$32,063
Tax year 2023
Assessed value
$723,140
Assessed 2024
Previous assessed
$682,260
+6.0% YoY
Effective rate
4.43%
On assessed value
Total market value
$1,446,280
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1954
Heating
GAS
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
35,185 SF
Lot
4.24 ac (184,694 SF)
Zoning code
II
APN
80-21-19-476-008
UPID
US43-0707708
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · South Lyon, MIZoning 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
Source
Zoning Ordinance FINAL with hyperlinks
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.7M
WAREHOUSE, STORAGE Current
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
1954
Heating
GAS
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
4.24 ac
Current owner
From public records · entity-resolved
CHARLES B PULLUM
Individual
Free & Clear · 0 yrs held
Mailing address
415 N LAFAYETTE ST, SOUTH LYON, MI 48178-2035
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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