For Sale
$1,400,000

106 Lafayette St South Lyon, MI 48178

6,800 SF Storefront, $1.4M Asking

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional 6,800 square foot retail storefront, located at 106 S Lafayette St in the heart of downtown South Lyon, Michigan (48178), presents a compelling investment opportunity. Priced at $1,400,000, the property boasts a strong current net operating income of approximately $88,000, projected to increase annually due to built-in rent escalations within the existing leases. The building is a two-tenant property with leases commencing October 2024, offering lease terms of five and eight years respectively, providing long-term stability for the investor. Recent comprehensive renovations have enhanced the property's value and functionality. These upgrades include a new roof, a modernized split electrical system, a new HVAC system, and the completion of all necessary city code improvements. The property benefits from its convenient location, with a city-owned parking lot directly adjacent, ensuring ample free parking for tenants and customers. This turnkey investment offers a blend of immediate income generation and long-term growth potential in a thriving downtown area. The property is classified as a NNN lease type.

Highlights

  • 6,800 SF retail building for sale in downtown South Lyon, MI.
  • $1,400,000 purchase price.
  • Two-tenant building with 5 and 8-year leases starting October 2024.
  • $88,000 annual net operating income (NOI) with built-in rent increases.
  • Completely renovated with new roof, HVAC, electrical system, and all city code compliance.
  • Adjacent city-owned parking lot with free parking.

Property Details for 106 Lafayette St

Property type
Retail properties, Retail space
Square Feet
6,800 SF

Location Insight

City
South Lyon
County
Oakland
State
Michigan
Latitude
42.4603014
Longitude
-83.6517549

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FAQs

What type of property is this?
Retail property - 6,800 SF Storefront, $1.4M Asking
Where is the retail property located?
The property is located at 106 Lafayette St South Lyon, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6,800 SF retail building for sale in downtown South Lyon, MI.; $1,400,000 purchase price.; Two-tenant building with 5 and 8-year leases starting October 2024.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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Contacts

Michael Koenigbauer
Visit Broker Website

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Useful Information

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Lafayette St
South Lyon, MI 48178

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Lafayette St
South Lyon, MI 48178

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

106 Lafayette St
  • Michael Koenigbauer
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