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    Agricultural & Hunting Land Tracts Title is generated by Realmo AI

    140 Mountain Drive, Graford, TX 76449

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    Claim this Listing
    For Sale
    $1,319,760

    LAND - Other - Graford, TX

    Lot size:
    137.55 Acres
    Added:
    May 23, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 140 Mountain Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded, Brush
    Standard status
    Active
    APN
    567091
    Lot size
    137.55 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jared Kennedy

    Listing agent Jared Kennedy License #816602

    Listing office Whitetail Properties Real Estate Boerne, TX

    Listing date May 23, 2026

    MLS# 21058313 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

    • 137.55 acres in Palo Pinto County, offered as a single parcel or in 31.83-, 54.55-, or 51.17‑acre tracts
    • Land features gentle rolling pastures, open parks, and scattered stands of mesquite and cedar
    • One pond on the property provides water source for livestock and attracts native wildlife
    • Hunting and wildlife setup conveys: 2 elevated blinds, 3 corn feeders, and 3 protein feeders
    • Ranch access via a private, well‑maintained road with convenient routes to nearby highways
    • Electricity connected to a 1,150‑SF barn on a slab foundation for storage or utility space

    Overview

    This offering presents 137.55 acres of ranch and recreational land in Palo Pinto County, available as a single parcel or as three individual tracts. The terrain includes gentle rolling pastures and open areas, along with scattered stands of mesquite and cedar. A pond on the property serves as a water source for livestock and also attracts native wildlife, with whitetail deer, turkey, and dove noted as common species in the area. Included are two elevated blinds, three corn feeders, and three protein feeders.

    Access to the ranch is provided through a private, well-maintained road, with convenient routes connecting to nearby highways. Electricity is connected to a 1,150-square-foot barn on a slab foundation, which can support storage or utility needs for ranch operations. The property also combines open pasture and wooded sections, giving it practical flexibility for grazing cattle or horses, hunting, or maintaining a private retreat.

    Buyers seeking a rural investment or lifestyle option can choose to purchase the full acreage for a larger continuous operation, or consider one of the three tracts for a more tailored holding. With its blend of pasture, cover, and water, the land lends itself to working ranch use, recreational hunting, or a future homesite concept where allowed by applicable regulations.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.2671
    Latitude
    32.9289

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    FAQs

    What type of property is this?
    Ranch - 137.55 acres with rolling pasture, pond, and feeders, offered as one parcel or split tracts for ranching or hunting use.
    Where is this ranch located?
    The property is located at 140 Mountain Drive Graford, TX.
    What is the asking price?
    The asking price for this property is $1,319,760.
    What are key features of this property?
    This property features: 137.55 acres in Palo Pinto County, offered as a single parcel or in 31.83-, 54.55-, or 51.17‑acre tracts; Land features gentle rolling pastures, open parks, and scattered stands of mesquite and cedar; One pond on the property provides water source for livestock and attracts native wildlife
    (830) 428-0096
    We can help!
    Listing Contact
    Jared Kennedy
    Real Estate License ID: 816602
    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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