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    Wooded Recreation Land Parcel Title is generated by Realmo AI

    W Herzog Road, Iron Mountain, MI 49801

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    Claim this Listing
    New
    For Sale
    $100,000

    LAND - Iron Mountain, MI

    Lot size:
    10.00 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 6:06 am

    Property Features for W Herzog Road

    General Information

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

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    228

    We can help!

    Listing Contact
    CAROLE WAITROVICH

    Listing agent CAROLE WAITROVICH License #UPAR-97073-94

    Listing office SHOREWEST REALTORS E6308 Valhalla Drive, Watersmeet, MI

    Listing date Jun 3, 2026

    MLS# 50210045 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

    • 10‑acre wooded parcel with a mix of mostly hardwoods and some pines
    • Property extends on both sides of the road, providing added versatility and access
    • Adjacent to public CFR land for nearby recreational acreage
    • Seller prefers to sell full 10 acres but is willing to divide at $10,000 per acre

    Overview

    Offering 10 acres of wooded land with a mix of mostly hardwoods and some pines, this parcel provides a natural setting for outdoor activities. The property is suited to hunting and recreation, and it can also serve as a future home site, depending on the buyer’s plans.

    The land extends on both sides of the road, which can provide additional flexibility for access and site planning. The property is adjacent to public CFR land, offering nearby acreage for hunters and outdoor enthusiasts. The listing also notes proximity to the Groveland Mine area and surrounding walking trails, with access to nearby fishing and swimming opportunities.

    For buyers looking for private recreation space, the combination of wooded cover and adjacency to public CFR land can support year-round use such as hunting, hiking, and exploring. For residential buyers, the wooded character and secluded setting may appeal for those planning to build, with the two-side road layout offering options to position a home or driveway within the parcel. The seller prefers to sell the full 10 acres, but division is mentioned as an alternative.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Iron Mountain
    County
    Dickinson
    State
    Michigan
    Longitude
    -88.0360578
    Latitude
    46.0007328

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    FAQs

    What type of property is this?
    Hunting land - Secluded 10-acre wooded parcel suited for hunting, recreation, or a future home site.
    Where is this hunting land located?
    The property is located at W Herzog Road Iron Mountain, MI.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: 10‑acre wooded parcel with a mix of mostly hardwoods and some pines; Property extends on both sides of the road, providing added versatility and access; Adjacent to public CFR land for nearby recreational acreage
    (906) 396-7819
    We can help!
    Listing Contact
    CAROLE WAITROVICH
    Real Estate License ID: UPAR-97073-94
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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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