Your AI Navigator in Commercial Real Estate
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

    245 Bishop Dr Weatherford, TX 76088

    Sponsored
    For Sale
    $119,900

    Unimproved Land - Weatherford, TX

    Type:Unimproved Land
    Lot size:
    2.64 Acres
    Days on Market:
    34
    Last Refresh:
    Jan 20 at 7:06 pm

    Property Features for 245 Bishop Dr

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R000083167
    Lot size
    2.64 Acres

    Taxes and HOA fees

    Expense value
    300
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Karrin Forrester

    eXp Realty (888) 519-7431

    Listing agent Karrin Forrester (888) 519-7431 License #0759363

    Listing date Dec 18, 2025

    MLS# 20952106 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

    Residential Land in Weatherford, Texas

    This 2.64-acre lot, located in Weatherford, Texas, within Parker County, offers an opportunity to build a custom home. The property features mature trees and views of Quail Springs Ranch. The seller is a home builder and offers build-to-suit services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Weatherford
    County
    Parker
    State
    Texas
    Longitude
    -97.906176
    Latitude
    32.884053

    Nearby Similar for Sale

    • New
      $990,000
      2,500 SF

      20-Acre Ranch with Exceptional Amenities

      Ag-exempt ranch featuring ponds, stables, updated home, and pool.
      4951 N Fm 51, Weatherford, TX 76085
      View Details
    • $995,000
      2,853 SF

      Remodeled Country Retreat on 26 Acres

      Remodeled 3-bedroom home on 26 acres with stocked pond.
      250 Lakeview Ct, Weatherford, TX 76088
      View Details
    • $1,199,000
      2,063 SF

      Weatherford Ranch-Style Home with Equestrian Facilities

      Ranch-style home on 11+ acres, perfect for farming or equestrian.
      622 Harmony Cir, Weatherford, TX 76087
      View Details
    • $950,000
      1.35 Acres

      Weatherford Commercial Property with Gym

      Commercial property in Weatherford, TX, featuring a gym and residential space.
      102 Taylor Rd, Weatherford, TX 76087
      View Details
    • $699,900
      2,380 SF

      Weatherford Ranch with Metal Shop

      12-acre Weatherford ranch featuring a shop and updated home.
      401 Old Agnes Rd, Weatherford, TX 76088
      View Details
    • $1,324,000
      20.93 Acres

      Weatherford Retreat with Two Homes

      21-acre Weatherford property featuring two homes and multiple outbuildings.
      3930 Old Springtown Rd, Weatherford, TX 76085
      View Details
    • $2,931,600
      3,696 SF

      Weatherford Horse Training Facility

      Premier horse training facility on almost 36 acres.
      2710 Advance Rd, Weatherford, TX 76088
      View Details
    • $31,478,108
      1,300 SF

      Historic Ranch with Development Potential

      947-acre ranch near Weatherford, TX, with development potential.
      5350 Upper Denton Rd, Weatherford, TX 76085
      View Details
    • $244,000

      Renovated Home in Couts Subdivision

      Completely renovated single-family residence with redevelopment potential in Weatherford, TX.
      112a W Akard St, Weatherford, TX 76086
      View Details
    • New
      $725,000
      2,095 SF

      Weatherford Barndominium on 12+ Acres

      Barndominium on 12.25 acres with room to roam and create.
      1170 Harmony Cir, Weatherford, TX 76087
      View Details
    • $899,999
      3,200 SF

      Parker County Dream Retreat

      Barndominium on 14+ acres near Weatherford dining and shopping.
      6500 Fm Rd, Weatherford, TX 76088
      View Details
    • $2,500,000
      2.25 Acres

      Weatherford Climate-Controlled Storage Facilities

      Climate-controlled storage with hospitality suite and pending liquor license.
      5989 N Fm 51 Hwy N, Weatherford, TX 76085
      View Details

    FAQs

    What type of property is this?
    Land - 2.64 acre lot with mature trees in Quail Springs Ranch.
    Where is this land located?
    The property is located at 245 Bishop Dr Weatherford, TX.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: - Large 2.64 acre lot provides ample space for a custom home.; - Located in the highly desired Quail Springs Ranch.; - Mature trees offer privacy and natural beauty.
    (888) 519-7431
    Request Owner's contact information
    245 Bishop Dr Weatherford, TX 76088
    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.
    245 Bishop Dr
    Weatherford, TX 76088
    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
    245 Bishop Dr Weatherford, TX 76088
    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
    Karrin Forrester
    Real Estate License ID: 0759363
    (888) 519-7431
    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.