NOT LISTED FOR SALE

116 E Lake St South Lyon, MI 48178

South Lyon Area

Estimated Value: $335,498

Studio
-- Bath
3,506 Sq Ft
$96/Sq Ft Est. Value

Sale Details

Date Sold: January 20, 2026

Last sale price $325,000 $93 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $2,440 / mo

219 Days on Market

About This Home

As of January 2026

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.

Last Agent to Sell the Property

Abe Ayoub

Mayfair Real Estate Group License #6501228846 Listed on: 06/02/2025

Last Buyer's Agent

Cain McGowan

DOBI Real Estate License #6501443463

DOBI Real Estate

Property Details

Property Type

  • Other

Est. Annual Taxes

Year Built

  • Built in 1870

Lot Details

  • 2,178 Sq Ft Lot
  • Lot Dimensions are 21x93x21x93
  • Zoning described as Commercial

Home Design

  • 3,506 Sq Ft Home
  • Brick Exterior Construction
  • Block Foundation
  • Stone Foundation

Additional Features

  • Accessible Entrance
  • Natural Gas Water Heater
  • Basement

Community Details

  • Assrs 1 City Of South Lyon Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2129101005

Property Details

Property Type

Other

Est. Annual Taxes

$7,542

Year Built

Built in 1870

Lot Details

2,178 Sq Ft Lot

Listing Details

  • Property Type: CommercialSale
  • Year Built: 1870
  • Current Use: Retail
  • State Equalized Value: 123990.00
  • Accessibility Features: AccessibleEntrance
  • Property Sub Type: RealEstateOnly
  • LotSizeAcres: 0.05
  • Co List Office Mls Id: 351573
  • Above Grade Finished Sq Ft: 3506.00
  • Living Area: 3506.00
  • ClassName: CommercialSale
  • ThirdPartyApprovalRequiredYN: No
  • Special Features: None

Interior Features

  • Fireplace: No
  • Basement: Yes

Exterior Features

  • Waterfront: No
  • Foundation Details: Basement, Block, Stone
  • Construction Materials: Brick
  • Road Frontage Type: ClassA

Garage/Parking

  • Garage: No

Utilities

  • Sewer: PublicSewer
  • Water Heater Fuel: NaturalGas
  • Water Source: Public

Schools

  • Junior High Dist: SouthLyon

Lot Info

  • Lot Dimensions: 21x93x21x93
  • Parcel Number: 2129101005
  • Land Lease Expiration Date: 2026-01-31
  • Zoning Description: Commercial

Tax Info

  • Tax Amount Summer: 7278.00
  • Tax Amount Winter: 264.00
  • Tax Annual Amount: 7542.00

Multi Family

  • Above Grade Finished Area Units: SquareFeet

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 2, 2025
Closed on
Jan 12, 2026
Sold by
Bought by
Seller's Agent
Abe Ayoub
Mayfair Real Estate Group
Buyer's Agent
Cain McGowan
DOBI Real Estate
List Price
$399,900
Sold Price
$325,000
Premium/Discount to List
-$74,900
-18.73%
Current Estimated Value
$335,498

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$10,498
Avg. Annual Appreciation
7.00%

Purchase Details

Closed on
Aug 19, 2022
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
0.0554%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$325,000 Title One
$245,000 Title One
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $220,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
01/20/2026 01/20/26 Sold $325,000 -13.3% $93 / Sq Ft
01/07/2026 01/07/26 Pending -- -- --
07/16/2025 07/16/25 Price Changed $374,900 -6.3% $107 / Sq Ft
06/02/2025 06/02/25 For Sale $399,900 -- $114 / Sq Ft
Source: Realcomp

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,412 $126,780 $0 $0
2024 $7,278 $123,990 $0 $0
2023 $6,941 $119,460 $0 $0
2022 $3,811 $106,700 $0 $0
2021 $3,645 $100,110 $0 $0
2020 $3,551 $98,060 $0 $0
2019 $3,585 $94,090 $0 $0
2017 $3,484 $89,860 $0 $0
2015 -- $82,570 $0 $0
2014 -- $80,800 $0 $0
2011 -- $88,970 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2026

    Abe Ayoub

    Mayfair Real Estate Group

    (248) 486-9227

    67 Total Sales

    Abe Ayoub
    Section Image

  • C

    Buyer's Agent in 2026

    Cain McGowan

    DOBI Real Estate

    (313) 333-5780

    98 Total Sales

    Cain McGowan
    Section Image
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Map

Source: Realcomp

MLS Number: 20251004072

Realcomp

APN: 21-29-101-005

Michigan Oakland County South Lyon 48178

116 E Lake St, South Lyon, MI

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Realcomp IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS
Copyright 2026 Realcomp II Ltd. Shareholders
IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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