do this
<Grid container>
<Grid container direction="column" item xs align="left">
<Grid item >
<Typography>
sample text
</Typography>
</Grid>
</Grid>
<Grid container direction="column" item xs align="right">
<Grid item >
< LocationIcon/>
</Grid>
</Grid>
</Grid>
Use justify-self and the value should flex-end on the icon. example:
LocationIcon{justify-self: flex-end;}
After the parent element display property has been set to either grid or flex.