1420 Wright Ave
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1420 Wright Ave
14,820 SF Retail Building Alma, MI 48801 $4,677,651 CAD ($316 CAD/SF) 10.45% Cap Rate
Investment Highlights
- Busiest intersections in Gratiot County
- Open floor plan ideal for major retailer
- Easy access parking lot
- Elevated 14' ceilings
- Drive-thru window accessibility
- ADA compliant
Executive Summary
Seize this exceptional opportunity to establish your business in a versatile commercial property, previously home to a national chain drug store. This expansive almost 15,000 square foot building offers a blank slate for your vision, featuring a prime location on one of the busiest corners in Gratiot County.
Key Features:
-Established current lease:
This property currently has a transferrable NNN lease for the remaining 8 years of a 25 year term, ending in 2032.
- Drive-Through Pharmacy:
Equipped with a convenient drive-through area, perfect for medical, retail, or service-oriented businesses.
- Fire Suppression System:
Fully installed fire suppression system ensures safety and compliance with local regulations.
- ADA Compliant:
The property includes ADA compliant bathrooms, doors, and main level entrances, ensuring accessibility for all customers.
- Receiving Area:
Roll-up outside doors provide easy access for receiving deliveries, enhancing operational efficiency.
- Security System:
The property is protected by a Bosch Commercial alarm/burglary protection system.
Location Highlights:
- Central Location:
Ideally situated in the heart of Alma, this property is less than a block away from the Masonic Home and the MyMichigan Medical Center Alma Hospital, ensuring high visibility and traffic.
- High Traffic Area:
Positioned on one of the county’s busiest corners, your business will benefit from excellent exposure to both foot and vehicle traffic.
- Proximity to Amenities:
Close to various local amenities, including shopping centers, dining options, and other professional services, making it a convenient destination for your customers.
Potential Uses:
- Retail Store
- Medical Facility
- Office Space
- Supermarket
- Fitness Center
This property’s adaptable layout and strategic location make it ideal for a wide range of commercial uses. Don’t miss out on the chance to create your perfect business space in a thriving area of Alma.
Key Features:
-Established current lease:
This property currently has a transferrable NNN lease for the remaining 8 years of a 25 year term, ending in 2032.
- Drive-Through Pharmacy:
Equipped with a convenient drive-through area, perfect for medical, retail, or service-oriented businesses.
- Fire Suppression System:
Fully installed fire suppression system ensures safety and compliance with local regulations.
- ADA Compliant:
The property includes ADA compliant bathrooms, doors, and main level entrances, ensuring accessibility for all customers.
- Receiving Area:
Roll-up outside doors provide easy access for receiving deliveries, enhancing operational efficiency.
- Security System:
The property is protected by a Bosch Commercial alarm/burglary protection system.
Location Highlights:
- Central Location:
Ideally situated in the heart of Alma, this property is less than a block away from the Masonic Home and the MyMichigan Medical Center Alma Hospital, ensuring high visibility and traffic.
- High Traffic Area:
Positioned on one of the county’s busiest corners, your business will benefit from excellent exposure to both foot and vehicle traffic.
- Proximity to Amenities:
Close to various local amenities, including shopping centers, dining options, and other professional services, making it a convenient destination for your customers.
Potential Uses:
- Retail Store
- Medical Facility
- Office Space
- Supermarket
- Fitness Center
This property’s adaptable layout and strategic location make it ideal for a wide range of commercial uses. Don’t miss out on the chance to create your perfect business space in a thriving area of Alma.
Property Facts
Sale Type
Investment NNN
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
14,820 SF
Building Class
B
Year Built
2007
Price
$4,677,651 CAD
Price Per SF
$316 CAD
Cap Rate
10.45%
NOI
$489,027 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.18
Lot Size
1.89 AC
Opportunity Zone
Yes
Zoning
201 COMMERCIAL - This property is zoned for commercial use only.
Frontage
Amenities
- 24 Hour Access
- Corner Lot
- Security System
- Signage
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 51-341-007-10 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $989,938 CAD |
PROPERTY TAXES
Parcel Number
51-341-007-10
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$989,938 CAD
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1420 Wright Ave
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