Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    101 E Superior St Alma, MI 48801

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $14 SF/Yr

    Retail space in a modernized historic building with high visibility.

    Property Features for 101 E Superior St

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Adam Vibber
    Adam Vibber
    Source: Exprealty

    Listing Agency: CENTURY 21 LEE-MAC REALTY Listing Agent: Adam Vibber

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Retail Space in Alma

    This retail space, located in the historic Opera House building in downtown Alma, offers approximately 3,200 square feet of leasing area. The space is currently a white box, ready for customization by a new tenant. The building has been modernized while retaining its historic charm. Large windows and doors provide ample natural light and enhance curb appeal. Situated on E Superior St, the property benefits from high traffic counts. The location is in a thriving business district with outdoor seating, art murals, entertainment, and events. The building also houses over 50 college residents on its upper floors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Olive & Co. Boutique Clothing & Fashion Store Wright-Leppien Opera House Hotel & Motel Alma Opera House Apartment Building

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Alma
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.662452
    Latitude
    43.378673

    Nearby Similar for Lease

    • $1,300 /Mo
      3,000 SF

      Downtown Alma Mixed-Use Building

      Versatile commercial space in downtown Alma suitable for various businesses.
      324 E Superior St, Alma, MI 48801
      View Details
    • $15 SF/Yr
      2,243 SF

      Retail Space in North Town

      2,250 sq ft retail space in high-traffic North Town Plaza.
      1588 Wright Ave, Alma, MI 48801
      View Details
    • $15 SF/Yr
      5,500 SF

      Retail Space in North Town Plaza

      5500 sq ft retail space in high-traffic Alma plaza.
      1636 Wright Ave, Alma, MI 48801
      View Details
    • $1.00 SF/Yr
      30,000 SF

      Industrial Build-to-Suit Opportunity, Alma

      Industrial space for lease in Alma's industrial corridor.
      6525 N Jerome Rd, Alma, MI 48801
      View Details
    • $14 SF/Yr
      3,185 SF

      Historic Space in Downtown Alma

      3,200 SF retail/office space in modernized historic Opera House.
      101 E Superior Dr, Alma, MI 48801
      View Details
    • $15 SF/Yr
      2,243 SF

      North Town Plaza Lease Space

      Lease space in high-traffic plaza near major retailers.
      1588 Wright Ave, Alma, MI 48801
      View Details
    • $1,300 /Mo

      Downtown Alma Commercial Space Available

      Versatile commercial building in downtown Alma suitable for various businesses.
      324 E Superior St, Alma, MI 48801
      View Details
    • $2,419 /Mo
      1,935 SF

      Prime Retail Space Available

      1935 sq ft retail space in premier location.
      7338 N Alger Rd, Alma, MI 48801
      View Details
    • $15 SF/Yr
      5,500 SF

      Retail Space in North Town

      5500 sq ft retail space in high-traffic plaza.
      1636 Wright Ave, Alma, MI 48801
      View Details
    • $12 SF/Yr
      2,967 SF

      Downtown Alma Office Building

      Updated office building with two suites and ample parking.
      303 W Superior St, Alma, MI 48801
      View Details
    • $2,419 /Mo
      1,935 SF

      Prime Retail Space in Alma

      1935 sq ft retail space in a sought-after location.
      7338 N Alger Rd, Alma, MI 48801
      View Details
    • $5 SF/Yr
      7,022 SF

      Alma Creative Office Suite for Lease

      Spacious Creative Office, High Ceilings, Great Visibility
      2850 Cheesman Rd, Alma, MI 48801
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in a modernized historic building with high visibility.
    Where is this retail space located?
    The property is located at 101 E Superior St Alma, MI.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Large 3,200 sq ft 'white box' space ready for customization.; - Located in the thriving downtown Alma business district with high traffic.; - Historic Opera House building with modernized infrastructure and original charm.
    (989) 560-3069
    Request Owner's contact information
    101 E Superior St Alma, MI 48801
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    101 E Superior St
    Alma, MI 48801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    101 E Superior St Alma, MI 48801
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Adam Vibber
    Adam Vibber
    Real Estate License ID: 6506046950
    (989) 560-3069 (989) 463-6085
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!