Property profile

362 M-28 Wakefield, MI 49968

OFF-MARKET
Land
42 ac lot
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Property summary

AI-generated overview

This exceptional 42-acre commercial land parcel in Wakefield, Michigan, presents a unique investment opportunity. Located on Hwy M-28, the property boasts convenient access and offers significant potential for various commercial ventures, despite its current residential zoning. The land features a spacious yard, a large shed, and a cabin with a large screen porch, open-concept living/kitchen area, and a wood-burning stove. Utilities include propane gas for the refrigerator and range, with solar power supplementing the lighting. An outhouse with a compost lavatory is also present. A creek runs through the property, and trails traverse the varied terrain, including higher ground areas. The property's prime location directly borders the Ottawa National Forest and is within a short drive of Lake Gogebic, major ski hills, and the Porcupine Mountains. The property includes three or more parking spaces. The legal description is APN 05-17-500-400, held in fee simple by a trust. The price per acre is $302. This property offers a blend of natural beauty and strategic location, making it ideal for a variety of commercial developments or recreational uses. The existing cabin and outbuildings provide immediate usability, while the expansive acreage offers ample room for expansion and development. This is a rare opportunity to acquire a substantial land holding in a desirable location.

Property profile

Verified
Property type Land
Lot 42 ac (1,829,520 SF)

Cap rate & NOI

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

Location

362 M-28 Wakefield, MI 49968
Wakefield 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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