Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Tbd M-94 Skandia, MI 49885
    Back to Search
    Property profile & analytics

    Tbd M-94 Skandia, MI 49885

    View on Map
    • Land
    • 80.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Tbd M-94

    Lot size
    80.00 lot acres
    Property type
    Land

    Description

    This 80-acre property in Skandia, Michigan, presents a unique opportunity for outdoor enthusiasts and those seeking a secluded retreat. Located off M-94, the land boasts exceptional wildlife habitat, ideal for deer, bear, grouse, and wild turkeys. The diverse tree species include maple, oak, birch, cedar, and spruce. A significant portion of the property provides excellent hunting grounds, while over five acres in the southeast corner offer a perfect building site for a year-round home or cabin. This area benefits from year-round access and available utilities, providing the convenience of modern amenities while maintaining a secluded woodland setting. The property is conveniently located approximately 30 minutes from both Marquette and Munising, offering easy access to town amenities while still enjoying the tranquility of the Upper Peninsula. Showings require an appointment, particularly during September due to active bear hunting on the property. The property's APN is 008-168-015-00 & 010-00, and it's zoned Rural Residential 5. The asking price is $79,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Skandia
    County
    Marquette
    State
    Michigan
    Longitude
    -87.2128
    Latitude
    46.3477

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      220 Kreiger Dr

      VACANT COMMERCIAL LAND • 0.24 Acres
      220 Kreiger Dr, Skandia, MI 49885-9456
      View Details
    • Value Estimation by Request
      80.00 Acres

      94th Ww

      COMMERCIAL (GENERAL) • 80.00 Acres
      94th Ww, Skandia, MI 49885
      View Details
    • Value Estimation by Request

      290 Ingalls Rd Ste

      COMMERCIAL (GENERAL)
      290 Ingalls Rd Ste, Skandia, MI 49885-9599
      View Details
    • Value Estimation by Request
      0.84 Acres

      Kannisto Rd

      COMMERCIAL (GENERAL) • 0.84 Acres
      Kannisto Rd, Skandia, MI 49885
      View Details
    • Value Estimation by Request
      2,016 SF

      155 Town Hall Rd

      COMMERCIAL (GENERAL) • 2,016 SF
      155 Town Hall Rd, Skandia, MI 49885-9600
      View Details
    • Value Estimation by Request

      10778 Us Hwy 41st S

      COMMERCIAL (GENERAL)
      10778 Us Hwy 41st S, Skandia, MI 49885-9450
      View Details

    Similar Nearby for Sale

    • $65,000
      19.50 Acres

      Skandia Land on US-41

      19.5 acres of wooded land in Skandia, Michigan.
      10098 Us 41, Skandia, MI 49885
      View Details
    • $59,900
      20.00 Acres

      20 Acres Wooded Land on US-41

      20 acres of wooded land in Marquette County, Michigan.
      10804 Us Highway 41 S, Skandia, MI 49885
      View Details
    • $79,900
      40.00 Acres

      40 Acres Vacant Land

      40 acres of vacant land in Marquette County, Michigan.
      40 Acres Maple Grv, Skandia, MI 49885
      View Details
    • $110,000
      40.00 Acres

      40 Acres of Wooded Land

      Secluded 40-acre parcel near Marquette and Munising.
      40 Acres Dukes, Skandia, MI 49885
      View Details
    • $120,000
      56.00 Acres

      56 Acres Vacant Land

      56 acres of vacant land in Marquette County, Michigan.
      56 Acres Halverson, Skandia, MI 49885
      View Details
    • $100,000
      40.00 Acres

      40 Acres of Vacant Land

      40 acres near Marquette, MI, ready for building or recreation.
      40 Acres Dalton, Skandia, MI 49885
      View Details
    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.
    Tbd M-94
    Skandia, MI 49885
    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
    Tbd M-94, Skandia, MI, 49885
    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!