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 Peterson Iron Mountain, MI 49801

    Sponsored
    For Sale
    $68,000

    Vacant Land - Iron Mountain, MI

    Lot size:
    1.21 Acres
    Days on Market:
    11
    Last Refresh:
    Feb 16 at 8:06 pm

    Property Features for Tbd Peterson

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential,Recreational
    APN
    002-230-010-00
    Lot size
    1.21 Acres

    Utilities

    Water front features
    River Frontage, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    TROY MARGONI
    TROY MARGONI

    Stephens Real Estate (906) 774-8570

    Listing agent TROY MARGONI (906) 774-8570

    Listing date Feb 6, 2026

    MLS# 50198971 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

    Scenic Riverfront Land Parcel

    This 1.2 acre parcel offers approximately 95 feet of frontage along the Menominee River. Mature cedar trees surround the property, providing peaceful, natural views. The land is easily accessible and ready for development, making it an ideal location to build a home or riverfront cabin. A drilled well and electricity are already installed. The property offers waterfront serenity, privacy, and recreational opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Iron Mountain
    County
    Dickinson
    State
    Michigan
    Longitude
    -88.096077272797
    Latitude
    45.919510701276

    Nearby Similar for Sale

    • New
      $425,000
      8,852 SF

      Versatile Commercial Property on Two Acres

      9,000+ sq ft commercial property with living quarters.
      5000 N Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • $224,000
      2,380 SF

      Turnkey Investment Property in Iron Mountain

      Three-unit income property with long-term tenants and strong rental rates.
      521 E F St, Iron Mountain, MI 49801
      View Details
    • $2,300,000
      60,000 SF

      Iron Mountain Commercial/Industrial Building

      60,000 sq ft commercial building on 2.8 acres.
      106 E Smith St, Iron Mountain, MI 49801
      View Details
    • $416,900
      5,893 SF

      Downtown Iron Mountain Investment Opportunity

      Income-generating property in downtown Iron Mountain with long-term leaseholds.
      231 E A St, Iron Mountain, MI 49801
      View Details
    • New
      Contact for pricing
      4,388 SF

      Metal Commercial Building For Sale

      Sheet metal commercial building for sale, no real estate included.
      105 Lake Antoine Rd N, Iron Mountain, MI 49801
      View Details
    • $169,900
      2,347 SF

      Spacious Multi-Family Investment Opportunity

      Three-unit property near downtown, schools, and City Park.
      200 W Fleshiem St, Iron Mountain, MI 49801
      View Details
    • $225,000
      2,120 SF

      Charming Duplex with Rental History

      Investment duplex with recent updates, excellent rental history, and desirable features.
      1305 W B St, Iron Mountain, MI 49801
      View Details
    • $549,900
      21,600 SF

      Versatile Industrial Property in Iron Mountain

      21,000 sq. ft. industrial space suitable for diverse businesses.
      623 Circle Dr, Iron Mountain, MI 49801
      View Details
    • $1,850,000
      3,519 SF

      Turnkey Auto Service Facility Business

      Modern, fully equipped auto service facility with additional income opportunities.
      1137 S Stephenson Ave, Iron Mountain, MI 49801
      View Details
    • New
      $329,900
      5,200 SF

      Versatile Commercial Complex in Iron Mountain

      Two-building commercial complex on 2.6 acres ready for operations.
      W7941 E Breitung Ave, Iron Mountain, MI 49801
      View Details
    • $129,900
      2,016 SF

      Spacious Duplex on Corner Lot

      Investment opportunity: spacious duplex with rental history in Iron Mountain.
      424 6Th St, Iron Mountain, MI 49801
      View Details
    • New
      $324,900
      3,325 SF

      Versatile Commercial Building on Corner Lot

      Retail and storage space with expansion potential in Iron Mountain.
      101 W Highitt, Iron Mountain, MI 49801
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.2 acre parcel with Menominee River frontage.
    Where is this residential land & home lot located?
    The property is located at Tbd Peterson Iron Mountain, MI.
    What is the asking price?
    The asking price for this property is $68,000.
    What are key features of this property?
    This property features: - 1.2 acre parcel with approx. 95 feet of Menominee River frontage.; - Drilled well and electricity already installed.; - Easily accessible and ready for development.
    (906) 367-1332
    Request Owner's contact information
    Tbd Peterson Iron Mountain, MI 49801
    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 Peterson
    Iron Mountain, MI 49801
    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 Peterson Iron Mountain, MI 49801
    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
    TROY MARGONI
    TROY MARGONI
    Real Estate License ID: UPAR
    (906) 367-1332 (906) 774-8570
    Learn more
    Google sign-in failed. Please try again or use another login method.