Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Two Acre Wooded Parcel Title is generated by Realmo AI

    Parcel B Webb Road, Grand Marais, MI 49839

    View on Map
    Claim this Listing
    For Sale
    $60,000

    LAND - Grand Marais, MI

    Lot size:
    2.00 Acres
    Added:
    Jul 10, 2024
    Days on Market:
    681
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for Parcel B Webb Road

    General Information

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

    We can help!

    Listing Contact
    CHERYL STRANGE-LAETSCH

    Listing agent CHERYL STRANGE-LAETSCH License #6501450710

    Listing office ROSIE'S GRAND MARAIS REALTY N13998 Ellen Street PO Box 307, Grand Marais, MI

    Listing date Jul 10, 2024

    MLS# 50148004 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

    • 2 acre wooded parcel
    • Year round maintained road access
    • Suitable for home, cabin, pole barn, or deer camp
    • Surveyed and marked corners for easy location
    • Wooded with wildlife
    • Neighboring 2 acre parcel also available

    Overview

    This is a 2-acre wooded parcel situated on a year-round maintained road. Surveyed and marked corners facilitate easy location of the parcel boundaries. The property is suitable for building a home, cabin, pole barn, or deer camp. The neighboring 2-acre parcel is also available.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Grand Marais
    County
    Alger
    State
    Michigan
    Longitude
    -85.9562719
    Latitude
    46.6641462

    Nearby Similar for Sale

    • $249,000
      1,166 SF

      Grand Marais Commercial Opportunity

      Historical commercial building in Grand Marais, Michigan, with high traffic.
      21739 E Brazel Street, Grand Marais, MI 49839
      View Details
    • $495,000

      Grand Marais Waterfront Vacant Land

      Pristine beachfront property on Grand Marais West Bay.
      North Ellen Street, Grand Marais, MI 49839
      View Details
    • $99,500

      Vacant Lots in Grand Marais

      Three vacant lots available within Grand Marais city limits.
      E22041 Everett, Grand Marais, MI 49839
      View Details
    • $190,000

      Wooded Land with River Frontage

      15+ acre wooded parcel with 900' trout stream frontage.
      E County Road H58, Grand Marais, MI 49839
      View Details
    • $1,250,000
      3,088 SF

      Grand Marais Commercial Business Opportunity

      Market and gas station serving residents and tourists in Grand Marais.
      14284 N Lake Avenue, Grand Marais, MI 49839
      View Details
    • $49,500

      Grand Marais Single Family Lot

      Two 1+ acre parcels near downtown Grand Marais, Michigan.
      N13851 Ellen St, Grand Marais, MI 49839
      View Details
    • $385,000

      Vacant Land on M-77

      16-acre vacant land with road frontage near Grand Marais, MI.
      St Hwy M-77, Grand Marais, MI 49839
      View Details
    • $60,000

      Two Acre Wooded Parcel

      Two acre wooded parcel perfect for building a home.
      Parcel A Webb Road, Grand Marais, MI 49839
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two-acre wooded parcel suitable for building a home or cabin.
    Where is this residential land & home lot located?
    The property is located at Parcel B Webb Road Grand Marais, MI.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: 2 acre wooded parcel; Year round maintained road access; Suitable for home, cabin, pole barn, or deer camp
    (906) 477-3297
    We can help!
    Listing Contact
    CHERYL STRANGE-LAETSCH
    Real Estate License ID: 6501450710
    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
    Parcel B Webb Road, Grand Marais, MI 49839
    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!