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    Waterfront Equestrian Retreat Land Title is generated by Realmo AI

    121. Elm, Kerens, TX 75144

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    Claim this Listing
    New
    For Sale
    $9,750,000

    COMMERCIAL - Kerens, TX

    Property size:
    6,635 SF
    Lot size:
    37.15 Acres
    Price / SF:
    $1,469/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 121. Elm

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Tandem, Driveway, Garage, Covered, RV, Oversize, Boat, Gated
    Security features
    Security
    Fireplace
    1
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    59271
    Lot size
    37.15 Acres

    Taxes and HOA fees

    Tax Description
    ABS A10636 F PROCELLO ABST TRACT 76A-1 1.0 AC
    Tax Annual Amount
    19282

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank, Aerobic Septic
    Heating system
    Fireplace(s), Propane (Heating), Central, Zoned
    Cooling system
    Ceiling Fan(s), Electric, Central Air, Zoned
    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Year built
    2023
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Tile, Hardwood
    Building materials
    FiberCement
    Roof type
    Metal

    We can help!

    Listing Contact
    Laura Smith

    Listing agent Laura Smith License #0645005

    Listing office Keller Williams Lonestar DFW Arlington, TX

    Listing date Jun 5, 2026

    MLS# 21285190

    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

    • 37‑acre lakefront property on Richland Chambers Lake with 1,211 ft of shoreline and a retaining wall
    • Custom main home built in 2023: 6 bedrooms, 5.1 baths, 6,635 SF, plus 2 offices, theater room, and exercise room
    • Second custom home/guest apartment with garage and workshop: 2,383 SF, 4 bedrooms, 2 baths, kitchen, living, and laundry
    • Accessible elevator installed for 2nd‑floor living quarters
    • Equine setup includes 5‑stall barn with tack room; outdoor features include 3 ponds and swimming pool
    • Utilities include propane heat; sewer includes septic tank and aerobic septic; property is in an opportunity zone

    Overview

    This waterfront land offering includes multiple custom residences plus equestrian improvements. The main home features 6 bedrooms, 5.1 bathrooms, 2 offices, a theater room, and an exercise room, along with second-floor living quarters accessible by elevator. A separate guest home with a garage and workshop provides additional living space with 4 bedrooms and 2 bathrooms. For equine operations, the property includes a 5-stall barn and tack room. Outdoor amenities include a swimming pool, three ponds, and 1,211 feet of shoreline with a retaining wall.

    The property is situated on Richland Chambers Lake, providing direct lake frontage and a developed shoreline with retaining wall protection. The listing notes the property has no HOA and is located in an opportunity zone.

    The combination of lakefront acreage, multiple homes, and on-site equestrian facilities supports a range of tenant or buyer needs, from retreat-style use to event hosting and hobby-farm or equestrian-focused operations. With shoreline, ponds, and existing improvements, it is positioned to accommodate buyers looking for a ready-to-use compound rather than raw land only.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Kerens
    County
    Navarro
    State
    Texas
    Longitude
    -96.199
    Latitude
    32.1018

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    FAQs

    What type of property is this?
    Ranch - Waterfront acreage with custom homes, a 5-stall barn, and shoreline improvements on Richland Chambers Lake.
    Where is this ranch located?
    The property is located at 121. Elm Kerens, TX.
    What is the asking price?
    The asking price for this property is $9,750,000.
    What are key features of this property?
    This property features: 37‑acre lakefront property on Richland Chambers Lake with 1,211 ft of shoreline and a retaining wall; Custom main home built in 2023: 6 bedrooms, 5.1 baths, 6,635 SF, plus 2 offices, theater room, and exercise room; Second custom home/guest apartment with garage and workshop: 2,383 SF, 4 bedrooms, 2 baths, kitchen, living, and laundry
    (817) 795-2500
    We can help!
    Listing Contact
    Laura Smith
    Real Estate License ID: 0645005
    Learn More
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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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