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    93 Acres on Anna River Title is generated by Realmo AI

    County Road 577 lot Anna River Rdp, Munising, MI 49862

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    Claim this Listing
    For Sale
    $146,475

    LAND - Munising, MI

    Lot size:
    93.00 Acres
    Added:
    Aug 14, 2024
    Days on Market:
    646
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for County Road 577 lot Anna River Rdp

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    93.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    126

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    JACOB FLOHR

    Listing agent JACOB FLOHR License #6502431228

    Listing office CLC REALTY, LLC 1500 W Washington Suite A, Au Train, MI

    Listing date Aug 14, 2024

    MLS# 50152014 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

    • 93 acres with 4,500 feet of frontage on the Anna River.
    • Opportunity to build a single‑family structure with associated outbuildings within a 24‑acre pre‑designated "Privacy Zone".
    • Part of "The Big U.P. Deal" historic conservation project.
    • Enrolled in Michigan's Commercial Forest program.
    • Buried electric available on‑site.
    • Balance of property (69 acres) open to the public for passive recreational pursuits.

    Overview

    This 93-acre property is located just off M-94 outside of Munising and features approximately 4,500 feet of frontage on the Anna River. The land is entirely within Michigan's Commercial Forest program, and buried electric is available on-site. A conservation easement, held by the State of Michigan as part of The Nature Conservancy's Northern Great Lakes Forest Project, is in place. This property is designated for a limited development opportunity within the historic conservation project known as "The Big U.P. Deal". The conservation easement encourages the sustainable use of forest resources, the protection of conservation values, and provides opportunities for public recreation. Development is allowed for one single-family structure with associated outbuildings. A 24-acre pre-designated "Privacy Zone" can be posted as private property. The residual 69 acres will remain open to the public for foot traffic for passive recreational pursuits.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Munising
    County
    Alger
    State
    Michigan
    Longitude
    -86.4779
    Latitude
    46.4479

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    FAQs

    What type of property is this?
    Recreation land - 93 acres with 4,500 FF on the Anna River.
    Where is this recreation land located?
    The property is located at County Road 577 lot Anna River Rdp Munising, MI.
    What is the asking price?
    The asking price for this property is $146,475.
    What are key features of this property?
    This property features: 93 acres with **4,500 feet of frontage on the Anna River**.; Opportunity to build a single‑family structure with associated outbuildings within a **24‑acre pre‑designated "Privacy Zone"**.; Part of "The Big U.P. Deal" historic conservation project.
    (715) 966-5811
    We can help!
    Listing Contact
    JACOB FLOHR
    Real Estate License ID: 6502431228
    Learn More
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    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.

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