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    Lakefront Residential Land Lot Title is generated by Realmo AI

    1131 Brackeen Drive, Graford, TX 76449

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    Claim this Listing
    For Sale
    $399,000

    LAND - Graford, TX

    Lot size:
    0.56 Acres
    Added:
    May 28, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 1131 Brackeen Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded, Brush
    Exterior features
    Dock, FirePit
    Standard status
    Active
    APN
    11395
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Description
    BOBWHITE BLUFFS PK LAKE
    Tax Annual Amount
    1372

    Utilities

    Sewer type
    Septic Tank
    Water source
    Private
    Water front features
    Waterfront, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Jackie Fewell
    Jackie Fewell

    Listing agent Jackie Fewell License #0613028

    Listing office The Brokerage Residential LLC Colleyville, TX

    Listing date May 28, 2026

    MLS# 21215096 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

    • PK Lake waterfront lot in Bobwhite Bluffs with lake‑front frontage
    • Half‑acre property with natural elevation transition from road to shoreline
    • Private dock in place with ladder and Hydrohoist lift
    • Flat upper level for an easy‑build option
    • Shaded waterfront patio sitting area with stone landscaping features
    • Private water source with septic tank

    Overview

    This waterfront land parcel offers the pieces needed to start enjoying lake life quickly, including a private dock with ladder and Hydrohoist lift already in place. The property’s natural elevation transitions from the road down to the shoreline, creating a tucked-away feel and a practical approach to site planning. A flat upper level provides an easier-build area, while stone steps lead to a shaded waterfront patio sitting area with stone landscaping features that set a natural outdoor focal point.

    Located in Bobwhite Bluffs in Graford, Texas, the lot sits on a quiet street and is surrounded by quality homes. Tree-framed views and a calm setting help define the privacy buyers look for in a lakefront home site. The shoreline access and existing waterfront improvements reduce the uncertainty of bringing the property to life, whether your plans focus on building immediately or preparing for the right future build.

    Ideal for buyers seeking a lakefront homesite with ready water access and an on-site staging of outdoor space. The combination of a build-friendly upper area and a finished-feel waterfront patio supports a range of retreat-style plans, from full-time residences to seasonal getaways, all anchored by dock access designed for convenient day-to-day use.
    Property Profile Location Intelligence

    Current Use by Public Records

    The treehouse Bed & Breakfast

    Suggested Use

    Restaurant Spa & Massage Center Hotel & Motel Gym & Fitness Center Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.434715
    Latitude
    32.837326

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    FAQs

    What type of property is this?
    Waterfront Land - Lakefront lot with a ready-to-use dock and gently graded build area for a private retreat experience.
    Where is this waterfront land located?
    The property is located at 1131 Brackeen Drive Graford, TX.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: PK Lake waterfront lot in Bobwhite Bluffs with lake‑front frontage; Half‑acre property with natural elevation transition from road to shoreline; Private dock in place with ladder and Hydrohoist lift
    (972) 379-7486
    We can help!
    Listing Contact
    Jackie Fewell
    Jackie Fewell
    Real Estate License ID: 0613028
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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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    1131 Brackeen Drive, Graford, TX 76449
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