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    Vacant Land Near Possum Kingdom Title is generated by Realmo AI

    1008 Bluff Creek Drive, Strawn, TX 76475

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    Claim this Listing
    For Sale
    $175,000

    Unimproved Land - Strawn, TX

    Type:Unimproved Land
    Lot size:
    0.76 Acres
    Added:
    Nov 13, 2025
    Days on Market:
    194
    Last Refresh:
    May 26 at 8:06 pm

    Property Features for 1008 Bluff Creek Drive

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    568298
    Lot size
    0.76 Acres

    Taxes and HOA fees

    Expense value
    1025
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brooke Smart

    Listing agent Brooke Smart License #0770899

    Listing office Smart Realty 6003 Sunderland Dr, Colleyville, TX

    Listing date Nov 13, 2025

    MLS# 21045158 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Spacious vacant lot in Sportsmans World, ideal for building a custom home or weekend getaway.
    • Partial lake view offering a glimpse of Possum Kingdom Lake.
    • Convenient access to lake activities and nearby amenities.
    • Investment potential in a growing Possum Kingdom lake property market.
    • Utilities available nearby, simplifying the building process.
    • Potential for use as a short‑term rental property.

    Overview

    This vacant lot offers tranquility and opportunity to build a dream retreat at Possum Kingdom Lake. Located in the Sportsmans World community, the property provides a peaceful setting surrounded by natural beauty and mature landscape. A partial view of the lake offers a glimpse of the water. The lot provides flexibility to create a full-time residence or a weekend getaway. It could possibly be used as a short-term rental. Utilities are available nearby. The location provides convenient access to lake activities including boating, fishing, swimming, and paddle boarding. Nearby amenities such as dining, marinas, and scenic trails make lake life easy and enjoyable. This is also a great option for buyers who want to take advantage of the investment potential at Possum Kingdom, where demand for lake properties continues to grow. The lot offers the chance to create not just a home but a lifestyle. The property is 0.757 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Big Box & Wholesale Store Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Strawn
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.494274
    Latitude
    32.834743

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    FAQs

    What type of property is this?
    Land - Spacious lot near Possum Kingdom Lake with partial lake view.
    Where is this land located?
    The property is located at 1008 Bluff Creek Drive Strawn, TX.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Spacious vacant lot in Sportsmans World, ideal for building a custom home or weekend getaway.; Partial lake view offering a glimpse of Possum Kingdom Lake.; Convenient access to lake activities and nearby amenities.
    (817) 999-3067
    We can help!
    Listing Contact
    Brooke Smart
    Real Estate License ID: 0770899
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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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    1008 Bluff Creek Drive, Strawn, TX 76475
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