Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2403 Fm 309 Hillsboro, TX 76645

    Sponsored
    For Sale
    $491,775

    Unimproved Land - Hillsboro, TX

    Type:Unimproved Land
    Lot size:
    23.70 Acres
    Days on Market:
    49
    Last Refresh:
    Jan 29 at 10:06 pm

    Property Features for 2403 Fm 309

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    118867
    Lot size
    23.70 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Cynthia Inman

    Ranch Connection LLC (817) 366-3850

    Listing agent Cynthia Inman (817) 366-3850 License #0301892

    Listing date Dec 12, 2025

    MLS# 21016107 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.

    Learn more

    Property Insight Report

    Overview

    Beautiful Land Parcel in Hillsboro

    This 23.7-acre property in Hill County offers approximately 800 feet of paved road frontage on FM 309. The land features building sites, pastures, wooded areas, and two stock tanks. Located roughly 12 miles from downtown Hillsboro, the property is accessible via a drive through the countryside. The land includes sandy loam soils and pastures suitable for haying or grazing livestock, along with mature hardwoods. Reasonable deed restrictions are in place to protect the integrity of the land. A rural waterline is available across the road, and electricity is readily accessible. The property is located 20 minutes from Lake Whitney, 15 minutes from Hillsboro, 30 minutes from Cleburne, 45 minutes from Waco, and 1 hour from Fort Worth. The owners will consider dividing this parcel into two tracts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land

    Map

    City
    Hillsboro
    County
    Hill
    State
    Texas
    Longitude
    -97.254495
    Latitude
    32.062834

    Nearby Similar for Sale

    • $950,000
      9,400 SF

      Established Gym in Downtown Hillsboro

      Income-producing gym with 500+ members and strong community ties.
      110 E Franklin St, Hillsboro, TX 76645
      View Details
    • $349,900
      0.27 Acres

      Historic Building Ready for Build-Out

      Historic brick building in downtown Hillsboro ready for build-out.
      125 S Waco St, Hillsboro, TX 76645
      View Details
    • $400,000
      0.14 Acres

      Downtown Hillsboro Mixed-Use Building

      Unique mixed-use building in downtown Hillsboro with live-work potential.
      207 E Elm St, Hillsboro, TX 76645
      View Details
    • $134,000
      0.07 Acres

      Downtown Hillsboro Commercial Property

      Prime commercial building in downtown Hillsboro, suitable for various businesses.
      231 E Elm St, Hillsboro, TX 76645
      View Details
    • $565,000
      40.82 Acres

      Hillsboro Ranch with Hay Production

      Livestock property near Hillsboro with house, sheds, and fencing.
      948 Fm 1947, Hillsboro, TX 76645
      View Details
    • $225,000
      0.16 Acres

      Remodeled Duplex in Downtown Hillsboro

      Fully remodeled duplex in revitalizing downtown Hillsboro, perfect for investment.
      209 N Abbott St, Hillsboro, TX 76645
      View Details
    • $215,000
      0.06 Acres

      Hillsboro Retail Building For Sale

      Retail building with historical features and current tenant.
      103 E Franklin St, Hillsboro, TX 76645
      View Details
    • $120,000
      0.27 Acres

      Self-Storage Facility in Hillsboro, TX

      15-unit self-storage facility on a .265 acre lot.
      619 Cunningham St, Hillsboro, TX 76645
      View Details
    • $250,000
      0.39 Acres

      Profitable Smoke Shop Business Opportunity

      Established smoke shop business for sale in Hillsboro, Texas.
      200 S Waco St, Hillsboro, TX 76645
      View Details
    • $950,000

      Established Gym in Downtown Hillsboro

      Profitable gym with 24-year history, equipment, and strong community ties.
      110 E Franklin St, Hillsboro, TX 76645
      View Details
    • $956,755

      Hillsboro Agricultural Property with Pasture

      147-acre property suitable for grazing and hay production.
      0000 Hcr 2316, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      2,000 SF

      Hillsboro Warehouse with Loading Dock

      2000 SF warehouse featuring loading dock and office.
      111 Industrial Loop, Hillsboro, TX 76645
      View Details

    FAQs

    What type of property is this?
    Agricultural land - 23.7-acre property with building sites, pastures, and stock tanks.
    Where is this agricultural land located?
    The property is located at 2403 Fm 309 Hillsboro, TX.
    What is the asking price?
    The asking price for this property is $491,775.
    What are key features of this property?
    This property features: - Beautiful 23.7-acre property with lush pastures, wooded areas, and two stock tanks, divisible into two parcels.; - Up to 80 acres of additional land available for purchase.; - **Approximately 800 feet of paved road frontage on FM 309 with multiple building sites.**
    (817) 366-3850
    Request Owner's contact information
    2403 Fm 309 Hillsboro, TX 76645
    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.
    2403 Fm 309
    Hillsboro, TX 76645
    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
    2403 Fm 309 Hillsboro, TX 76645
    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

    We can help!
    Listing Contact
    Cynthia Inman
    Real Estate License ID: 0301892
    (817) 366-3850
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.