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    1405 Wright Ave Alma, MI 48801

    Sponsored
    For Sale
    $500,000

    Established dispensary, high traffic area.

    Property size:
    2,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 2,800 square foot storefront, located at 1405 Wright Ave in Alma, Michigan, presents a unique investment opportunity. Currently operating as a municipally approved medical marijuana dispensary, this property is poised for significant growth following the city's recent approval of recreational marijuana sales. Situated on a 0.63-acre lot in the heart of Alma's business district, this former Pizza Hut location benefits from high visibility on Wright Ave, proximity to Alma College and MyMichigan Hospital, and convenient access to US-127, drawing customers from surrounding areas including St. Louis and Ithaca. The property is one of only three licensed dispensaries in Gratiot County, serving a population of approximately 9,000. The asking price is $500,000 ($178.57 per square foot), and offers are welcome. This is a rare chance to acquire a thriving business in a rapidly expanding market. The property's location and existing infrastructure provide a solid foundation for continued success in the recreational marijuana industry. The city is currently finalizing the ordinance for recreational sales, ensuring a smooth transition to a dual-license operation.

    Property Features for 1405 Wright Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,800 SF
    Lot Size
    27,443 SF

    HighLights

    • $500,000 asking price for a 2,800 square foot storefront in Alma, MI.
    • Owner/user retail investment opportunity.
    • Located on Wright Ave. in Alma's business district, near Alma College and MyMichigan Hospital.
    • Currently a municipally approved medical marijuana dispensary; recreational license anticipated soon.
    • One of three dispensaries in Gratiot County (population 9,000), with convenient access to US‑127.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Alma
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.6671596
    Latitude
    43.3919429

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    FAQs

    What type of property is this?
    Individual retail property - Established dispensary, high traffic area.
    Where is this individual retail property located?
    The property is located at 1405 Wright Ave Alma, MI.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: $500,000 asking price for a 2,800 square foot storefront in Alma, MI.; Owner/user retail investment opportunity.; Located on Wright Ave. in Alma's business district, near Alma College and MyMichigan Hospital.
    Request Owner's contact information
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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
    1405 Wright Ave Alma, MI 48801
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