Add Listing
    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

    251 LCR 658 Thornton, TX 76687

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $185,895

    Improved Land - Thornton, TX

    Lot size:
    21.87 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    26
    Last Refresh:
    Apr 20 at 1:06 pm

    Property Features for 251 LCR 658

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    10258
    Lot size
    21.87 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Melasky

    Listing agent Jeff Melasky License #0629693

    Listing office Ranch Gate Real Estate, LLC 824 A N. US Hwy 171, Mexia, TX

    Listing date Mar 26, 2026

    MLS# 21165802 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.

    Overview

    Improved Land Near Highway 14

    This 21+ acre tract of land is located off Highway 14, south of Thornton, Texas. The property features electric service running from the highway to the property, with a meter in place. A septic system is also installed and ready to be connected. The land includes small clearings and several potential building sites. The property is fenced, with a new fence being constructed along the southern boundary shared with a recently sold 10-acre tract. A private water well will be required.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Thornton
    County
    Limestone
    State
    Texas
    Longitude
    -96.4988
    Latitude
    31.4027

    Nearby Similar for Sale

    • $1,400,000
      1,792 SF

      Texas Ranch with Lake Access

      151.6-acre ranch featuring a stocked lake and manufactured home.
      3455 Lcr 758, Thornton, TX 76687
      View Details
    • $359,000

      Lakefront Acreage in Summer Place

      Two adjoining lots with deep-cove waterfront on Lake Limestone.
      Lots 9 & 10 Lcr 740, Thornton, TX 76687
      View Details
    • $699,900

      90 Acre Ranch with Utilities

      90-acre ranch featuring large oak trees and existing utilities.
      Tbd LCR 758, Thornton, TX 76687
      View Details
    • $498,895
      2,702 SF

      Ranch Home on 2.35 Acres

      Cozy ranch home on 2.35 acres with mature trees.
      2247 Lcr 654, Thornton, TX 76687
      View Details
    • $274,000

      30.29 Acres of Unimproved Land

      Unimproved 30.29-acre tract in Thornton, Texas, Groesbeck ISD.
      Tbd W FM 1246 Street, Thornton, TX 76687
      View Details
    • $650,000
      2,240 SF

      Thornton Farm with Solar Potential

      95-acre farm with solar panels and comfortable residential living.
      2300 Lcr 654, Thornton, TX 76687
      View Details
    • $78,000

      Lake Limestone Half Acre Lot

      Half acre lot near Lake Limestone with storage building.
      00 Lcr 743, Thornton, TX 76687
      View Details
    • $150,000

      Thornton, TX Land For Sale

      4.71 acres of land in Lake Limestone Coves.
      00 Hickory Loop, Thornton, TX 76687
      View Details
    • $640,000

      80 Acres Ranch in Thornton

      80-acre ranch suitable for hunting, cattle, hay, or farming.
      TBD 80 ACRES LCR 648, Thornton, TX 76687
      View Details
    • $982,800
      1,344 SF

      Historic Ranch in Limestone County

      117-acre ranch with farmhouse, ponds, and abundant wildlife.
      Tbd County Road 646, Thornton, TX 76687
      View Details
    • $235,000

      20.5 Acres Pasture with Pond

      20.5 acres of pasture land with stocked pond.
      Tbd County Road 656, Thornton, TX 76687
      View Details
    • $67,500

      Lake Limestone Wooded Homesite

      1.3 acre wooded homesite near Lake Limestone with utilities available.
      1.27 Acres Lcr 750, Thornton, TX 76687
      View Details

    FAQs

    What type of property is this?
    Land - 21+ acre tract with electric and septic near Thornton, TX.
    Where is this land located?
    The property is located at 251 LCR 658 Thornton, TX.
    What is the asking price?
    The asking price for this property is $185,895.
    What are key features of this property?
    This property features: 21+ acre tract of land.; Electric ran to the property with meter in place.; Septic system installed (needs hookup).
    (512) 200-5853
    We can help!
    Listing Contact
    Jeff Melasky
    Real Estate License ID: 0629693
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!