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116 E Lake Street South Lyon, MI $ 374,900
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$ 374,900 Get more info
116 E Lake Street
$ 374,900
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116 E Lake Street

South Lyon, MI, 48178
$ 374,900
Bedrooms-- Baths-- Sq 3,506

Monthly Estimate*

$ 2,339

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Commercial Property for sale in South Lyon, MI

for $374,900. This 3,506 square foot building was built in 1870 on a lot size of 0.05.

Historic building in South Lyon. With 2000 sq ft on main level and another 1,500 sq ft upstairs which is a blank canvas. Located in the heart of downtown South Lyon. You're not just buying a building but a piece of history. The rubber on roof total was a tear off 6 yrs ago, newer 90+ furnace, on demand hot water, and newer electrical box. Bathroom on main level. You could renovate upstairs for revenue to rent out. Property only business is not for sale.

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Commercial Contingent

Price

$ 374,900

Property Type

Commercial

Taxes

$ 7,542

Style

RealEstateOnly

Lot Size

0.05

Year Built

1870

Town/City

South Lyon

County/Region

Oakland

MLS | Web ID

20251004072
Features
General
Sewer PublicSewer
Possession AtClose
Construction Materials Brick
Year Built 1870
Property Subtype RealEstateOnly
Current Use Retail
Accessibility AccessibleEntrance
County Oakland
Net Operating Income 0.0
Operating Expense 0.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Contingency AcceptingBackupOffers
Subdivision Name ASSRS 1 - CITY OF SOUTH LYON
Garage Y/N N
Status Accepting Backup Offers
Directions east of lafayette
City SouthLyonCity_Oakland
Senior Community Y/N N
High School District SouthLyon
Zoning Description Commercial
MLS Area Area02212SouthLyon
Lot Size Units Acres
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 7542.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status ActiveUnderContract
Occupancy Type Tenant
Tax Assessed Value 123990
Expected Active Date 2025-06-02
Legal Description T1N R7E SEC 29 ASSESSOR'S PLAT NO 1 LOT 21
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Exterior
Water Source Public
Foundation Details Basement Block Stone
Spa N
Building Area Total 3506.0
Lot Dimensions 21x93x21x93
Lot Size Acres 0.05
Waterfront Y/N N
Road Frontage Type ClassA
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Above Grade Finished Area 3506.0
Above Grade Finished Area Unit Type SquareFeet
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Internal Only
Street Number 1 116
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* Excluded Features
List By
Abraham Ayoub

Listing Agent

Mayfair Real Estate Group

Broker

(248) 486-9227

Phone

Affordability Calculator

$2,967
Per Month
79%
21%
0%
Monthly Principal & Interest
$2,339
Monthly Property Taxes
$629
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4909515 Elementary School
4909835 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
7/16/2025$374,900 -6.25% Price Down
6/2/2025$399,900 Listed Price

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116 E Lake Street, South Lyon, MI, 48178 is a Commercial Property for sale at $374,900 with 3,506 sqft and a lot size of 0.05. 116 E Lake Street was built in 1870. The property's zip code is 48178 which is in South Lyon, MI

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