Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    Tbd Black Riv Ironwood, MI 49938

    Sponsored
    For Sale
    $49,900

    Vacant Land - Ironwood, MI

    Lot size:
    28.46 Acres
    Days on Market:
    205
    Last Refresh:
    Jan 28 at 6:06 am

    Property Features for Tbd Black Riv

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Other
    APN
    03-00-106-400
    Exterior features
    Trail(s)
    Lot size
    28.46 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    PETER SEIFERT

    FIRST WEBER, INC (906) 667-6366

    Listing agent PETER SEIFERT (906) 667-6366 License #6501422652

    Listing date Jul 8, 2025

    MLS# 50123979 Listing URL

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    28+ Acres Vacant Land

    This parcel consists of over 28 acres and is accessible via a primitive road off Black River Road. The land features rolling terrain and is predominantly covered by a hardwood forest, with some large Hemlocks and other coniferous trees present. The acreage offers privacy and could be suitable for building an off-grid camp. The property is located near Powderhorn, Black River Harbor, and Copper Peak.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Ironwood
    County
    Gogebic
    State
    Michigan
    Longitude
    -90.107796200561
    Latitude
    46.592252144928

    Nearby Similar for Sale

    • $215,000
      5,952 SF

      Downtown Ironwood Mixed-Use Investment Property

      Unique investment opportunity in historic downtown Ironwood, Michigan.
      105 S Suffolk St, Ironwood, MI 49938
      View Details
    • $129,900
      2,232 SF

      Solid Income-Generating Triplex Opportunity

      Three-unit apartment building with steady income potential in Ironwood, Michigan.
      217 S Mansfield St, Ironwood, MI 49938
      View Details
    • $219,900
      2,862 SF

      Historic Ironwood Property with Updates

      Updated historic property with endless potential in a prime location.
      400 Silver St, Ironwood, MI 49938
      View Details
    • $204,900
      1,952 SF

      Turn-Key Restaurant Opportunity in Ironwood

      Operational restaurant with bar and patio near Powderhorn Ski Hill.
      N11582 Black River Rd, Ironwood, MI 49938
      View Details
    • $30,000
      20,000 SF

      Jessieville Commercial Building Opportunity

      Two-story brick building in Jessieville, ready for renovation.
      1 Iron King Rd, Ironwood, MI 49938
      View Details
    • New
      $189,000
      1,600 SF

      Established Bakery Business Opportunity

      Turnkey artisan bakery with equipment, recipes, and real estate.
      230 E Aurora St, Ironwood, MI 49938
      View Details
    • $160,000
      2,781 SF

      Commercial Building on US 2

      2700 sq ft commercial building with limitless potential.
      135 E Cloverland Dr, Ironwood, MI 49938
      View Details
    • $160,000
      0.20 Acres

      Commercial Building on US 2

      2700 sq ft commercial building on US 2.
      135 Cloverland Dr E, Ironwood, MI 49938
      View Details
    • $117,900
      2,100 SF

      Downtown Ironwood Mixed-Use Investment

      Mixed-use property with commercial space and apartments in downtown Ironwood.
      122 W Aurora St, Ironwood, MI 49938
      View Details
    • New
      $199,900
      6,670 SF

      Commercial Building with Multiple Tenants

      Commercial building in Ironwood, MI with multiple tenants and apartments.
      237 E Cloverland Dr, Ironwood, MI 49938
      View Details
    • $52,000
      2,756 SF

      Mixed-Use Building with Apartment

      2,756 sq ft commercial building with apartment and garage.
      100 Bonnie St, Ironwood, MI 49938
      View Details
    • New
      $949,900
      22,912 SF

      Ironwood Apartment Complex Near Schools

      20-unit apartment complex near schools and downtown Ironwood.
      655 E Ayer St, Ironwood, MI 49938
      View Details

    FAQs

    What type of property is this?
    Land - 28+ acres near Powderhorn, Black River Harbor, and Copper Peak!
    Where is this land located?
    The property is located at Tbd Black Riv Ironwood, MI.
    What is the asking price?
    The asking price for this property is $49,900.
    What are key features of this property?
    This property features: - 28+ acres of land offering ample space and possibilities.; - Close proximity to Powderhorn, Black River Harbor, and Copper Peak, perfect for outdoor enthusiasts.; - Enjoy excellent privacy on this expansive parcel.
    (906) 285-9955
    Request Owner's contact information
    Tbd Black Riv Ironwood, MI 49938
    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.
    Tbd Black Riv
    Ironwood, MI 49938
    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
    Tbd Black Riv Ironwood, MI 49938
    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
    PETER SEIFERT
    Real Estate License ID: 6501422652
    (906) 285-9955
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.