Property profile

2 Marenisco Mi 46647 Watersmeet, MI 49969

OFF-MARKET
Mixed-use properties
240 ac lot
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Property summary

AI-generated overview

This exceptional 240-acre property, situated in Gogebic County, Michigan, near Watersmeet, offers unparalleled recreational opportunities. Bordering the Ottawa National Forest, this land boasts easy access via US Highway 2 and an internal network of trails, allowing exploration of the entire acreage by foot, truck, or UTV. The rolling terrain creates a rich wildlife corridor, ideal for hunting, with heavy deer traffic noted. Towering timber stands and snowshoeing opportunities enhance the wilderness experience. Proximity to Lake Gogebic provides additional summer and winter recreation. Currently enrolled in the Commercial Forest Act, resulting in low taxes, the property offers flexibility; the new owner can maintain the current tax benefits or remove a portion for development. The acreage is also divisible into two 120-acre parcels, providing purchase options. This is a phenomenal recreational investment in Michigan's Upper Peninsula, listed at $390,000. The property's address is HWY 2, Marenisco, MI 46647, and its zip code is 49969.

Property profile

Verified
Property type Mixed-use properties
Lot 240 ac (10,454,400 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

2 Marenisco Mi 46647 Watersmeet, MI 49969
Watersmeet metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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