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    Waterfront Trail Ridge Homesite Title is generated by Realmo AI

    2181 Trail Ridge # 2, Graford, TX 76449

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    Claim this Listing
    New
    For Sale
    $875,000

    LAND - Graford, TX

    Lot size:
    0.29 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 12:06 pm

    Property Features for 2181 Trail Ridge # 2

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Wooded
    Patio and Porch features
    Deck
    Exterior features
    Balcony, BoatSlip, Deck, Dock
    Standard status
    Active
    APN
    22348
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 0.294 PK LAKE 5-2-31 AREA 1-10 LOT 38-
    Tax Annual Amount
    9835

    Utilities

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

    We can help!

    Listing Contact
    Mary Gill

    Listing agent Mary Gill

    Listing office Compass RE Texas, LLC. Dallas, TX

    Listing date Jun 2, 2026

    MLS# 21287831 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

    • Lakefront homesite with waterfront features listed as Waterfront and Lake Front
    • Includes outdoor features: deck, balcony, dock, and boat slip
    • Utilities and systems listed: electric heating and central cooling with central air and ceiling fans
    • Sewer service listed as septic tank
    • Located on Trail Ridge Road in the Possum Kingdom Lake area (32.88297, -98.50588)
    • Adjacent property at 2179 Trail Ridge Rd (MLS #21196386) is also available

    Overview

    Set on Trail Ridge Road in the Possum Kingdom Lake area, this waterfront homesite offers a rare opportunity to secure a premium piece of property in a well-regarded enclave of custom residences. The parcel provides the foundation for your lake retreat, with room to tailor plans to your preferred layout and design approach. At 0.294 acres, it represents a meaningful homesite footprint and includes the potential to build around privacy-focused site planning.

    A key advantage of this offering is the ability to expand your vision. An adjacent property at 2179 Trail Ridge Rd (MLS #21196386) is also available, creating the option to assemble additional land for an estate-sized feel and greater flexibility. The setting is described as surrounded by custom estates and lake properties, supporting the location’s appeal for buyers seeking a luxury, lake-centric environment on one of the community’s desirable streets.

    This property is well suited for custom home builders who want to develop in a high-demand lake setting, as well as investors and future homeowners looking for long-term value. With the adjacent parcel available, buyers have the choice to pursue a single homesite plan or consider assembling a larger estate configuration for enhanced privacy and broader development possibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.50481
    Latitude
    32.882824

    Nearby Similar for Sale

    • $3,995,000

      Automotive Service & Storage Facility

      Newly built automotive service and showroom facility with multiple bays, parts area, office space, and extensive storage options.
      1770 Fm 2951, Graford, TX 76449
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Build-ready homesite near Possum Kingdom Lake with adjacent parcel option for estate-scale privacy.
    Where is this waterfront land located?
    The property is located at 2181 Trail Ridge # 2 Graford, TX.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Lakefront homesite with waterfront features listed as Waterfront and Lake Front; Includes outdoor features: deck, balcony, dock, and boat slip; Utilities and systems listed: electric heating and central cooling with central air and ceiling fans
    (214) 814-8100
    We can help!
    Listing Contact
    Mary Gill
    Request Owner's contact information
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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.

    More about this property
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