Timber/mineral/river Tract
Norway, MI 49870
MLS #1092137

Vacant Land
  • 3,293acres
$5,300,000
Est. P&I payment: $20242.41/mo
Timber/mineral/river Tract, Norway, MI 49870
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Description for Timber/mineral/river Tract, Norway, MI 49870
INVESTMENT LAND with excellent recreation capabilities. Everything is in place and ready for excellent cash flow returns immediately. This Timber/Mineral/River Tract features 24 parcels, many contiguous blocks, with 3,293 acres and an estimated 50,000 feet of waterfront on the rivers and over 1,000 feet on Perch Lake. All of the parcels have insurable access with the exception of a 40 acre parcel in Iron Co. and a 40 acre parcel in Marquette County. Many of the parcels have county road frontage with electric. The timber value is estimated over $1,760,000 based on 2004 volumes and there has been no harvesting since that inventory so this total may be higher. The timber is ready for harvest now. The mineral potential is based upon a 10% share of the sellers rights and there is currently significant exploration underway on a portion of this portfolio due to recent findings. The exploration company has taken an option on this 944 acres and if exercised, the new buyer will receive $2,100,000 compensation for that acreage in addition to the mineral rights. The land resale value has extensive upside and most of the parcels are ready to sell individually. There is unlimited recreation potential here as well. The river frontage features many rapids and small waterfalls along with the Sturgeon River Gorge in Dickinson County. The Gorge will remind you of a river in the Rockies. All of these rivers are scenic with good fishing. The hunting opportunities abound on most of the parcels with trophy whitetail have been harvested over the years. One of these whitetails was featured on the Sportsman Channel. Our tracts range from over 1,000 contiguous acres to small acreage building sites near the city of Kingsford and everything in between. There isn't another land portfolio that offers a combination of timber, minerals, resale and recreation anywhere in the Upper Peninsula and perhaps the entire Midwest. We have additional information available to qualified buyers including photos, DVDs, mineral reports and other details upon request with a letter of financial ability from a recognized financial institution.
MLS #1092137
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My Notes for MLS #1092137

General Features

  • Est. Number of Acres: 3,293

Exterior Features

  • Lot Dimensions: Multiple Parcels
  • Outbuildings: None

Utility Features

  • Cable: No
  • Electric: Yes
  • Natural Gas: No
  • Sewer: None
  • Telephone: Yes
  • Water: None

Financial Features

  • Association Fee: None
  • Financing Options: Seller Financing
  • Price Per SQFT: 1,609.47

Community Features

  • Body of Water: Sturgeons and Michigamme River

School Features

  • School District: Breitung Twp

Miscellaneous Features

  • Road Access: Seasonal
  • Road: Black Top,​Gravel,​Dirt
  • Shoreline: Bluff,​Cleared,​Flat Rock,​Lawn,​Mixed,​Pebble,​Rocky,​Sand,​Vegetation
  • Terrain: Bluff,​Combination,​Flat,​High,​Hilly,​Low,​Rock,​Rolling
  • Water View: River
  • Waterfront: River
  • Wooded: Yes

Location

 
Street View Not Available
Directions to Timber/mineral/river Tract, Norway, MI 49870
Multiple parcels throughout Marquette, Menominee, Dickinson, Iron and Baraga Counties. Refer to legal descriptions and maps.
The listing information for Timber/mineral/river Tract, Norway, MI 49870 was graciously provided by our friends at the listing brokerage, NORTHERN MICHIGAN LAND BROKERS

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P&I Payment $20242.41
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on U.P. Riverland Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. U.P. Riverland Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 06/28/2017 at 9:42pm
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