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    421 N State St Alma, MI 48801

    For Sale
    $899,000

    None - Alma, MI

    Property size:
    10,320 SF
    Lot size:
    0.23 Acres
    Days on Market:
    288
    Last Refresh:
    Dec 12 at 10:06 am

    Property Features for 421 N State St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi-Family,Commercial
    Rooms
    Basement
    Basement Y/N
    1
    Size
    10,320 SF
    Lot size
    0.23 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Roof type
    Asphalt
    Architectural style
    Other

    CENTURY 21 LEE-MAC REALTY (989) 463-6085

    Listing agent Bob Fall (989) 463-6085

    Listing date Feb 28, 2025

    MLS# 1926845 Listing URL

    Copyright © 2025 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Apartment Building Investment

    This is an 8-unit apartment building that has been fully remodeled. It consists of six 2-bedroom units and two 1-bedroom units. The property generates over $67,000 in annual revenue. The building was completely remodeled in 2015 and has not experienced any vacancies since reopening. Each unit includes updated kitchens, bathrooms, and living spaces. The property also features off-street parking and on-site laundry. It is located close to local amenities, schools, and shopping centers. The property is situated in a desirable, well-connected location with a steady stream of rental demand and a waiting list of tenants. The property is zoned for Multi-Family and Commercial use and sits on a 0.23-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alma
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.662156
    Latitude
    43.379888

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    FAQs

    What type of property is this?
    Apartment building - Fully leased 8-unit apartment building with strong income potential.
    Where is this apartment building located?
    The property is located at 421 N State St Alma, MI.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: - Fully Leased 8-Unit Building Generating Over $67,000 Annual Revenue; - Turnkey Investment with Proven Track Record and No Vacancy Since 2015 Remodel; - Prime, Desirable Location with High Rental Demand and Waiting List
    (989) 463-6085
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    Alma, MI 48801
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    421 N State St Alma, MI 48801
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