Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    413 Warwick Dr Alma, MI 48801
    Back to Search
    Property profile & analytics

    413 Warwick Dr Alma, MI 48801

    View on Map
    • Specialty properties
    • 2,455 SF
    • 4.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 413 Warwick Dr

    Lot size
    4.00 lot acres
    Property size
    2,455 SF
    Property type
    Specialty properties
    Property subtype
    Office Spaces

    Description

    This exceptional single-tenant medical office building, located at 413 E Warwick Dr, Alma, MI 48801, offers 2,455 square feet of versatile space. Situated on a 4-acre lot, this one-story building is ideally zoned for medical/office use. Its prime location offers unparalleled convenience, situated next to MyMidmichigan Hospital, schools, restaurants, and shopping centers, ensuring high visibility and accessibility for patients and clients. The property's strategic placement within a thriving professional community makes it an attractive option for a variety of medical or professional practices. The building's interior can be customized to meet specific professional needs, allowing for a tailored workspace designed to optimize functionality and efficiency. This presents a unique opportunity for businesses seeking a well-located, adaptable space to establish or expand their operations. The single-tenant occupancy ensures exclusive use and control over the entire building. The property's excellent location and flexible design make it an ideal choice for medical, dental, legal, or other professional offices seeking a prominent presence in the Alma community. Interested parties are encouraged to inquire for further details and to explore the possibilities this exceptional property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Alma
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.6584
    Latitude
    43.3919

    Comparable in this City

    • Value Estimation by Request

      318 Woodworth Ave

      Land
      318 Woodworth Ave, Alma, MI 48801
      View Details
    • Value Estimation by Request

      2850 Cheesman Rd

      Office Units
      2850 Cheesman Rd, Alma, MI 48801
      View Details
    • Value Estimation by Request
      1.00 Acre

      Tbd Warwick

      Mixed-use properties • 1.00 Acre
      Tbd Warwick, Alma, MI 48801
      View Details
    • Value Estimation by Request
      1.68 Acres

      Nn State Rd

      COMMERCIAL (GENERAL) • 1.68 Acres
      Nn State Rd, Alma, MI 48801
      View Details
    • Value Estimation by Request
      1.00 Acre

      Nn State Rd

      VACANT COMMERCIAL LAND • 1.00 Acre
      Nn State Rd, Alma, MI 48801
      View Details
    • Value Estimation by Request
      2.90 Acres

      1430 Charles Ave

      COMMERCIAL (GENERAL) • 2.90 Acres
      1430 Charles Ave, Alma, MI 48801-9238
      View Details

    Similar Nearby for Sale

    • New
      $375,000
      23,443 SF

      Mixed-Use Property with Income Potential

      3.45-acre mixed-use property with residential and commercial income.
      5705 N State Rd, Alma, MI 48801
      View Details
    • New
      $125,000
      26,210 SF

      26,000 SF Building on 6 Acres

      26,000 SF building on 6 acres in Alma, MI.
      700 W End St, Alma, MI 48801
      View Details
    • $679,000

      Medical Office Building For Sale

      Well-maintained medical office building in a strong medical corridor.
      245 E Warwick Dr, Alma, MI 48801
      View Details
    • $3,300,000
      14,820 SF

      Adaptable Commercial Property in Alma

      Versatile 14,820 sqft commercial space in a high-traffic location.
      1420 Wright Ave, Alma, MI 48801
      View Details
    • $195,000
      13,266 SF

      Downtown Alma Office Building

      13,000+ sq ft building with tenants and vacant suites.
      217 N State St, Alma, MI 48801
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity with high visibility and customer traffic.
      2805 W Cheesman Rd, 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
    • $1,100 /Mo
      3,000 SF

      Downtown Alma Commercial Space Available

      Versatile commercial building in downtown Alma, suitable for various uses.
      324 E Superior St, Alma, MI 48801
      View Details
    • $13,800 /Mo
      2,000 SF

      Downtown Alma Commercial Space Available

      Flexible 2,000 SF commercial space in downtown Alma.
      127 E Superior St, 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
    Request Owner's contact information
    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.
    413 Warwick Dr
    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
    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

    Thank You for Inquiry
    413 Warwick Dr, Alma, MI, 48801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!