Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Agri Land with Barn and Shop Title is generated by Realmo AI

    1397 County Road 338, Gainesville, TX 76240

    View on Map
    Claim this Listing
    For Sale
    $1,470,000

    LAND - Gainesville, TX

    Property size:
    3,600 SF
    Lot size:
    24.00 Acres
    Price / SF:
    $408/SF
    Added:
    May 16, 2026
    Days on Market:
    21
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 1397 County Road 338

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared, Grassed
    Standard status
    Active
    APN
    140150
    Lot size
    24.00 Acres

    Taxes and HOA fees

    Tax Description
    YARBOROUGH PG 1175 ACRES 24.0
    Tax Annual Amount
    205

    Utilities

    Sewer type
    Aerobic Septic
    Water source
    Well

    Building Details

    Year built
    2016

    We can help!

    Listing Contact
    Kinzey Dumas

    Listing agent Kinzey Dumas License #0806680

    Listing office Keller Williams North Country Celina, TX

    Listing date May 16, 2026

    MLS# 21231026 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

    • 25 acres of North Texas land with open pastureland, suited for ranching, livestock, equestrian use, or building a country estate
    • Custom‑built home on the property with over 3,600 SF of living space and an open‑concept layout
    • 3‑stall barn with covered trailer parking
    • Large shop with concrete floors and electricity
    • Well water supply and aerobic septic system

    Overview

    This 24-acre tract offers open, pasture-style land suited to ranching, livestock, and equestrian use, or to building out a private country estate. The property includes a custom-built home and multiple agricultural improvements designed to support daily operations and recreation. A 3-stall barn is on site with covered trailer parking, and there is a large shop with concrete floors and electricity, providing practical space for equipment, projects, or storage.

    Located at 1397 County Road 338 in Gainesville, Texas, the property is positioned to take advantage of wide-open views and an open feel typical of rural acreage. The combination of pastureland and on-site utility-equipped structures supports flexible use for animals, hobby farming, or a self-contained homestead.

    For buyers looking for room to operate, this site pairs acreage versatility with functional outbuildings. The presence of the barn, covered trailer parking, and a power-connected shop makes it well-suited for equestrian setups, livestock management, or maintaining equipment for ranch-related needs, while the custom home provides a comfortable base for full-time living or weekend retreats.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Cooke
    State
    Texas
    Longitude
    -97.32270388
    Latitude
    33.53947036

    Nearby Similar for Sale

    • $679,000

      Multi-Unit Retail and Office Building

      Four rentable units offer flexible retail or office space with strong downtown visibility and owner-financing options.
      710 E California Street, Gainesville, TX 76240
      View Details
    • $1,399,900

      Commercial Land with I-35 Visibility

      Approximately 21 acres of versatile land on the I-35 South service road with strong visibility and development upside.
      3511 S Interstate 35, Gainesville, TX 76240
      View Details
    • $749,500

      Waterfront Land with Private Dock

      Gated double waterfront lot on Moss Lake with shoreline, outdoor gathering areas, and a private dock and boathouse.
      41B White Oak, Gainesville, TX 76240
      View Details
    • $140,000

      High-Visibility Commercial Land Site

      Commercial-zoned site on the I-35 service road with strong exposure and flexible redevelopment options.
      720 Mccrary Street, Gainesville, TX 76240
      View Details
    • $274,500

      Commercial Development Land Lot

      An acre-plus commercial lot with major highway access, offering development space and parking potential for industrial or retail uses.
      TBD 1 Fm 1306, Gainesville, TX 76240
      View Details
    • $3,500,000

      Commercial Land with Dual Road Frontage

      A large, city-limits tract with major roadway frontage and utilities available on-site for commercial or mixed-use development.
      FM 678, Gainesville, TX 76240
      View Details
    • $1,000,000

      Lakefront Residential Land Parcel

      Build a custom home on a lakefront lot with an on-site dock setup for immediate water access.
      134 Blackfoot Trail, Gainesville, TX 76240
      View Details
    • $649,000

      Cooke County Acreage on Highway

      9.93 acres in Cooke County with frontage on Highway 82.
      8646 S Highway 82, Gainesville, TX 76240
      View Details
    • $2,869,000

      Ag-Exempt Hunting and Ranch Land

      Ag-exempt land outside Gainesville with substantial FM 3496 frontage for ranching, homesteads, and recreational use.
      Fm 3496, Gainesville, TX 76240
      View Details
    • $799,000

      Gainesville Land For Sale

      8.04 acre commercial land available in Gainesville, Texas.
      1601 Cherry Street, Gainesville, TX 76240
      View Details
    • $1,395,000

      Ranch Land with Pond and Pasture

      Fully fenced acreage with open pasture, mature trees, and a private pond for private estates or equestrian retreats.
      1258 County Road 352, Gainesville, TX 76240
      View Details
    • $150,000

      Agricultural Land with Build Restrictions

      Three buildable lots near I-35 offer flexible options for site-built homes or a small agricultural operation.
      County Rd 401, Gainesville, TX 76240
      View Details

    FAQs

    What type of property is this?
    Ranch - Open pastureland with a 3-stall barn and shop, ideal for ranching, livestock, or equestrian-ready setups.
    Where is this ranch located?
    The property is located at 1397 County Road 338 Gainesville, TX.
    What is the asking price?
    The asking price for this property is $1,470,000.
    What are key features of this property?
    This property features: 25 acres of North Texas land with open pastureland, suited for ranching, livestock, equestrian use, or building a country estate; Custom‑built home on the property with over 3,600 SF of living space and an open‑concept layout; 3‑stall barn with covered trailer parking
    (972) 382-8882
    We can help!
    Listing Contact
    Kinzey Dumas
    Real Estate License ID: 0806680
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1397 County Road 338, Gainesville, TX 76240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!