Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    TBD Off The Hazel Road Toivola, MI 49965

    View on Map
    For Sale
    $48,000

    Vacant Land - Twin Lakes, MI

    Lot size:
    40.00 Acres
    Added:
    Sep 30, 2024
    Days on Market:
    549
    Last Refresh:
    Apr 1 at 6:06 am

    Property Features for TBD Off The Hazel Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    40.00 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Timothy Keohane

    Listing agent Timothy Keohane

    Listing office Great Lakes & Land Real Estate 856 West Washington, Marquette, MI

    Listing date Sep 30, 2024

    MLS# 11555864 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Remote Wooded Recreational Land Parcel

    This 40+/- acre wooded recreational parcel is located in Portage Township, in the central part of Houghton County, in the Upper Peninsula of Michigan, east of Donken, in Elm River Township. The northern border of the property is adjacent to thousands of acres of Copper Country State Forest, providing walk-in access for hunting, fishing, and trapping during their respective seasons. The State of Michigan manages these lands for timber production and recreational use by the public, offering hundreds of miles of trails for hiking, wildlife viewing, cross country skiing and snowmobiling, camping, fishing, and hunting. Common trees in the area include Northern white cedar, Balsam fir, Big tooth aspen, Black spruce, Eastern hemlock, Eastern white pine, Jack pine, Norway pine, Paper birch, Red maple, Red pine, Spruce, Quaking aspen, and Yellow birch. The property is located northeast of the Village of Twin Lakes on M-26, near Twin Lakes State Park, a 175-acre campground on the southwest shore of Lake Roland, popular for fishing, boating, and swimming in the summer. The park allows off-road vehicle operation between the campground and nearby ORV trails and offers ski trails and snowshoeing trails in the winter. The property offers absolute privacy and is suitable for establishing a private getaway in the Upper Peninsula.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Toivola
    County
    Houghton
    State
    Michigan
    Longitude
    -88.8514
    Latitude
    46.9421

    Nearby Similar for Sale

    • $575,000

      Renovated Historic Church in Toivola

      Renovated 1948 church, ideal for corporate retreat or investment.
      36244 HWY M26, Toivola, MI 49965
      View Details
    • $59,900

      Winona Lake Frontage Vacant Land

      Heavily wooded 1.56-acre parcel with 228' Winona Lake frontage.
      TBDB Off Winona, Toivola, MI 49965
      View Details
    • $48,000

      Remote Wooded Recreational Land Parcel

      40+/- acre wooded parcel near Twin Lakes State Park.
      TBD OFF THE HAZEL, Twin Lakes, MI 49965
      View Details

    FAQs

    What type of property is this?
    Recreation land - 40+/- acre wooded parcel near Twin Lakes State Park.
    Where is this recreation land located?
    The property is located at TBD Off The Hazel Road Toivola, MI.
    What is the asking price?
    The asking price for this property is $48,000.
    What are key features of this property?
    This property features: 40+\/- acre wooded recreational parcel offering absolute privacy.; Adjacent to thousands of acres of Copper Country State Forest, providing walk‑in access for hunting, fishing, and trapping.; Located in the Upper Peninsula of Michigan, known for its natural beauty.
    (906) 228-9312
    We can help!
    Listing Contact
    Timothy Keohane
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!