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    Property profile & analytics

    7466 Honeysuckle Ln Republic, MI 49879

    • Commercial real estate
    • 960 SF
    • 49.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2632680
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Republic Ridge Shooting Preserve / Nature Preserve

    Property Details for 7466 Honeysuckle Ln

    Year built
    2005
    Lot size
    49.00 lot acres
    Property size
    960 SF
    Property type
    Commercial real estate

    Description

    This exceptional 49-acre property in Marquette County, Michigan, presents a unique investment opportunity. Boasting 2,762 feet of frontage on the Michigamme River, it offers year-round access via County Road LI. The property includes a lodge featuring two bedrooms, one full bath, and a large open kitchen, dining, and living area with a bar. The second bedroom is plumbed for laundry hookups. Amenities include a full electrical service, an oversized septic system (capable of supporting an additional three-bedroom home), an indoor electric sauna, and appliances (refrigerator, stove, microwave, dishwasher). A 24' x 60' pole building, wired with its own electrical panel and plumbed for in-floor heat, provides ample storage. A second cleared waterfront building site on the southwest side of the property is equipped with its own 100-amp electrical service. Two gravel pits are also located on the property. The property, previously used for potato farming and as a hunting and shooting club, is zoned WR-2, allowing for multiple conditional uses. Nearby recreational opportunities include the Iron Ore Heritage Bike Trail and the #5 ORV/Snowmobile trail. Abundant wildlife, including deer, grouse, turkey, ducks, geese, bear, and various fish species, inhabit the area. A new well was drilled in September 2024. The asking price is $350,000. The 960 square foot lodge was built in 2005. Note that property taxes will adjust upon sale. All dimensions are approximate

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Republic
    County
    Marquette
    State
    Michigan
    Longitude
    -87.977092
    Latitude
    46.352209

    Comparable in this City

    • $249,900
      252.00 Acres

      Large Acreage Tract in Republic

      252-acre Marquette County land with year-round access and power.
      252 Acres Helen Lk, Republic, MI 49879
      View Details
    • $77,000
      34.53 Acres

      Scenic Michigamme Riverfront Land

      34 acres of secluded riverfront property near Republic, Michigan.
      TBD34 Willett, Republic, MI 49879
      View Details
    • $69,000
      0.86 Acres

      Land with River Access

      Vacant land near Michigamme River with utilities.
      9351 Coyote Pass, Republic, MI 49879
      View Details
    • $398,000
      280.00 Acres

      Secluded 280-Acre Wilderness Retreat

      280 acres of secluded land with river frontage and cabin.
      280A Camp 1 Rd, Republic, MI 49879
      View Details
    • $49,900
      40.00 Acres

      Wooded 40-Acre Recreational Land

      40-acre wooded parcel near lakes and rivers.
      Tbd Fence Riv, Republic, MI 49879
      View Details
    • $650,000
      276.00 Acres

      276 Acres Hunting Land with Cabin

      Elite hunting land featuring a log cabin and two lakes.
      Tbd County Rd Fu, Republic, MI 49879
      View Details

    Similar Nearby for Sale

    • $249,900
      252.00 Acres

      Large Acreage Tract in Republic

      252-acre Marquette County land with year-round access and power.
      252 Acres Helen Lk, Republic, MI 49879
      View Details
    • $77,000
      34.53 Acres

      Scenic Michigamme Riverfront Land

      34 acres of secluded riverfront property near Republic, Michigan.
      TBD34 Willett, Republic, MI 49879
      View Details
    • $69,000
      0.86 Acres

      Land with River Access

      Vacant land near Michigamme River with utilities.
      9351 Coyote Pass, Republic, MI 49879
      View Details
    • $398,000
      280.00 Acres

      Secluded 280-Acre Wilderness Retreat

      280 acres of secluded land with river frontage and cabin.
      280A Camp 1 Rd, Republic, MI 49879
      View Details
    • $49,900
      40.00 Acres

      Wooded 40-Acre Recreational Land

      40-acre wooded parcel near lakes and rivers.
      Tbd Fence Riv, Republic, MI 49879
      View Details
    • $650,000
      276.00 Acres

      276 Acres Hunting Land with Cabin

      Elite hunting land featuring a log cabin and two lakes.
      Tbd County Rd Fu, Republic, MI 49879
      View Details
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    7466 Honeysuckle Ln
    Republic, MI 49879
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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.

    More about this property
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