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Menominee County, MI · Sold

MI-358681

8239 County Road 304

$488,600
$1,512/ac · 323 ac
Acreage323 ac
Price per acre$1,512/ac
ZoningRecreational
Road accessGravel
UtilitiesOff grid
TopographyFlat
ListedOct 20, 2023
Coordinates45.6133, -87.4832
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County GIS boundary

We do not yet have an active public ArcGIS connection for this county. Use the official source link to verify the parcel boundary and flood/zoning layers.

County market

Menominee County, Michigan. Northern Lower Peninsula recreational parcels and inland lake frontage.

View Menominee market data →

Step 1 · Is this a deal?

Due diligence

3 items to verify before you offer.

Risk index
19
Low risk
Wetlands11.1% of tract

Little to no mapped wetland coverage.

Average slope2.6%

Gentle grade, straightforward to develop.

Flood zoneShaded X

Moderate flood hazard on part of the tract.

Legal accessDeeded frontage

2,562 ft of deeded road frontage.

Power13,928 ft away

A long utility run — price in solar/off-grid instead.

Buildable area272.86 of 323.08 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate
$536,904
$454,018$619,791 · $1,662/ac on 323 ac
Asking vs estimate
-9.0%
Priced below the comp set

Weighted from 5 recorded sales, adjusted for tract size, access, utilities and time since sale. Range width reflects dispersion across the comp set.

AI deal brief

Comps, diligence flags, an offer number and what to ask the seller.

Offer calculatorAsking $488,600
Maximum allowable offer
$306,803
$950/ac · +30.0% target margin

You need $181,797 off asking to hit this margin.

All-in cost$332,881
Net resale$493,952
Projected profit$161,071
ROI+48.4%
Annualized+69.2%
Break-even resale$1,120/ac
Profit if resale lands off target
-20%
$62,280
-10%
$111,676
0%
$161,071
+10%
$210,466
+20%
$259,861
Comparable sales5 matches
ParcelAcresSoldPrice$/acAdj $/acDistMatch
MI-978835
Gravel · Power at road
361.2Jul 27, 2026$798,0002,2091,94512.0 mi
82
MI-848282
Landlocked · Off grid
242.0Mar 6, 2025$240,2009921,4246.1 mi
77
MI-959786
Paved · Off grid
719.4Jul 27, 2026$1,210,7001,6831,8193.8 mi
77
MI-357354
Gravel · Off grid
123.5Sep 2, 2024$190,3001,5411,2771.4 mi
67
MI-146627
Paved · Full utilities
73.0Nov 24, 2025$321,0004,3991,80410.0 mi
62
Show adjustment detail for the top comp
  • Tract size (361.21 ac → 323.08 ac)+3.3%
  • Utilities (Power at road → Off grid)-15.0%

Step 3 · Market it

Turn this underwriting into a listing

Generate a comp-priced headline, listing description, land-group post and cash-buyer email for this tract — then post it to the investor marketplace.