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    Heavily Wooded Land with Tanks Title is generated by Realmo AI

    1128 Mambrino Highway, Granbury, TX 76048

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    Claim this Listing
    Pending
    $1,599,000

    LAND - Other - Granbury, TX

    Lot size:
    90.94 Acres
    Added:
    May 21, 2026
    Days on Market:
    18
    Last Refresh:
    Jun 7 at 12:06 am

    Property Features for 1128 Mambrino Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded, Grassed, Brush, Cleared
    Fencing
    Perimeter, Gate, Fenced
    Standard status
    Pending
    APN
    R000046598
    Lot size
    90.94 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 88.707 ABST: J W FOGG - ABST 648
    Tax Annual Amount
    344

    Building Details

    Year built
    2011
    Architectural style
    Other
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Sean Sullivan

    Listing agent Sean Sullivan License #0457175

    Listing office Sullivan Real Estate Fort Worth, TX

    Listing date May 21, 2026

    MLS# 21230437 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

    • Heavily wooded tract with gently rolling terrain for a custom estate, ranch, or future residential development
    • Three large water tanks that create water features and attract wildlife
    • Metal barn on the property built in 2011, offering options for workshop, storage, or conversion
    • Fenced property with perimeter and gated access, including north and south gated entry points to major roads
    • Ag exempt status noted for potential tax advantages while keeping flexibility for different uses

    Overview

    This is a rare 90+ acre tract of heavily wooded land in Hood County with gently rolling terrain that lends itself to privacy and long-term value. Mature trees throughout create a natural, scenic setting suitable for a custom estate, ranch use, or future residential development. Three large tanks add practical water features, attract wildlife, and enhance the overall character of the property.

    The property includes a substantial metal barn that can support immediate needs as storage or a workshop, with the option to convert it into a barndominium or finished living space as plans evolve. Two gated access points provide entry options from both north and south to major roads, offering flexibility for layout and potential division. The land is currently ag exempt, which may provide tax advantages while maintaining versatility for a variety of uses.

    For buyers seeking a self-contained retreat, hobby ranch, or development-minded investment, the combination of tree cover, water features, topography, and multiple gated entrances creates a compelling foundation. With an existing barn on site and controlled access, the property is positioned for operators and homeowners who want usable land today and multiple pathways for growth and buildout over time.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Pharmacy Auto Parts Store Storage Facility Car Rental Facility Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.7576626
    Latitude
    32.3731965

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    FAQs

    What type of property is this?
    Residential land & home lot - Gated, heavily wooded tract in Hood County with multiple tanks, a metal barn, and flexible development potential.
    Where is this residential land & home lot located?
    The property is located at 1128 Mambrino Highway Granbury, TX.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: Heavily wooded tract with gently rolling terrain for a custom estate, ranch, or future residential development; Three large water tanks that create water features and attract wildlife; Metal barn on the property built in 2011, offering options for workshop, storage, or conversion
    (817) 992-7911
    We can help!
    Listing Contact
    Sean Sullivan
    Real Estate License ID: 0457175
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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.

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