Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land in Gwinn, Michigan Title is generated by Realmo AI

    192 W Johnson Lake Road, Gwinn, MI 49841

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    LAND - Gwinn, MI

    Lot size:
    1.00 Acre
    Added:
    May 23, 2025
    Days on Market:
    364
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for 192 W Johnson Lake Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    172

    We can help!

    Listing Contact
    BRIAN OLSON

    Listing agent BRIAN OLSON License #UPAR

    Listing office NORTHERN MICHIGAN LAND BROKERS 325 Erickson, Marquette, MI

    Listing date May 23, 2025

    MLS# 50175970 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.

    HighLights

    • Utilities readily available at the street.
    • Level, wooded parcel suitable for building.
    • Close proximity to Escanaba River and Johnson Lake Public Access Site.
    • Access to thousands of acres of State and CFA land for recreation and hunting.
    • Direct access to trails for mountain biking, snowmobiling, and side‑by‑sides.
    • Conveniently located near downtown, park, and schools.

    Overview

    This one-acre level parcel, located on a County-maintained blacktop road, presents a great building site with utilities available at the street. The property is nicely wooded with Maples, White Birch, Pines, Spruce, and some Oak trees. Blueberry bushes are abundant on the ground. Recreational opportunities abound with the Escanaba River and the Johnson Lake Public Access Site within walking distance, along with thousands of acres of State and CFA land for hunting and recreation. Trails for mountain bikes, snowmobiles, or side-by-sides are accessible directly from the property. The location is also close to Downtown, the Park, and the Schools in a welcoming neighborhood, making this property a perfect start for a new home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Pharmacy Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gwinn
    County
    Marquette
    State
    Michigan
    Longitude
    -87.431619
    Latitude
    46.268956

    Nearby Similar for Sale

    • $750,000
      7,263 SF

      Turnkey Hospitality Opportunity Near Airport

      Updated inn near airport with outdoor amenities and trail access.
      190 E M - 35 Highway, Gwinn, MI 49841
      View Details
    • $750,000
      7,263 SF

      Turnkey Hospitality Opportunity in Gwinn

      Updated motel near airport and trails, ready for new owner.
      190 E M - 35 Highway, Gwinn, MI 49841
      View Details
    • $2,690,000
      55,200 SF

      Established Storage Facilities Investment Package

      Three storage facilities with 192 units and outdoor storage.
      115 M-553 Highway, Gwinn, MI 49841
      View Details
    • $19,000

      Land Parcel in Sands Township

      0.72-acre parcel perfect for building or investment.
      340 TAYLOR ROAD, GWINN, MI 49841
      View Details
    • $625,000
      15,010 SF

      Spacious Commercial Building on M35

      Large retail and storage space on a bustling street.
      105 W M35 Highway, Gwinn, MI 49841
      View Details
    • $44,900

      8.3 Acres Wooded Land Parcel

      Wooded 8.3-acre parcel near Sawyer International Airport.
      PARCEL A M 553 HIGHWAY, GWINN, MI 49841
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - One-acre wooded lot near Escanaba River and Johnson Lake.
    Where is this residential land & home lot located?
    The property is located at 192 W Johnson Lake Road Gwinn, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Utilities readily available at the street.; Level, wooded parcel suitable for building.; Close proximity to Escanaba River and Johnson Lake Public Access Site.
    (906) 869-6446
    We can help!
    Listing Contact
    BRIAN OLSON
    Real Estate License ID: UPAR
    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

    Thank You for Inquiry
    192 W Johnson Lake Road, Gwinn, MI 49841
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!