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    271 Ac Little Mississippi Cemetery Rd Franklin, TX 77856

    View on Map
    Sponsored
    For Sale
    $3,000,000

    LAND - Franklin, TX

    Lot size:
    271.89 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 11 at 9:06 am

    Property Features for 271 Ac Little Mississippi Cemetery Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Robertson
    APN
    271 AC Little Mississippi Cemetery 202
    Fencing
    Barbed Wire
    Lot size
    271.89 Acres

    We can help!

    Listing Contact
    James Hammond
    James Hammond

    Keller Williams Brazos Valley (979) 693-9100

    Listing agent James Hammond (817) 525-0851

    Listing date Mar 10, 2026

    MLS# 26002805 Listing URL

    Copyright © 2026 Bryan-College Station Regional MLS. 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

    Overview

    Franklin TX Land with Improvements

    This 271.89-acre property is located approximately five miles from Franklin, Texas. It features paved road frontage and access from three sides, including Little Mississippi Road, FM 979, and Beck Prairie Road. A notable feature is the abundance of water resources, including four active water wells, six Robertson County Water Supply meters, three ponds, and Little Mud Creek running through the property, along with a smaller feeder creek. Historically, portions of the pasture have been used for coastal hay production, and the property currently benefits from an agricultural exemption. Improvements include a main home, an older cabin overlooking one of the ponds, a barn, and additional outbuildings. The cabin is situated on one of the highest points of the ranch, surrounded by mature oak trees and overlooking the pond below. One entrance features a tree-lined drive leading back toward the cabin, creating a private approach into the property. The ranch offers a balanced mix of improved pasture and wooded areas with multiple homesite locations and excellent usability across the land. The property is also available in separate tracts, but purchasing the full 271.89 acres provides the opportunity to control a large, improved property in one of the most desirable rural areas surrounding Franklin. The property is zoned Robertson.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Franklin
    County
    Robertson
    State
    Texas
    Longitude
    -96.554574
    Latitude
    31.052984

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    FAQs

    What type of property is this?
    Ranch - 271.89 acres near Franklin with multiple water sources.
    Where is this ranch located?
    The property is located at 271 Ac Little Mississippi Cemetery Rd Franklin, TX.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - Large 271.89-acre property close to Franklin.; - Abundant water resources: **Four active water wells, six water meters, three ponds, and two creeks.**; - Multiple access points with paved road frontage on three sides.
    (817) 525-0851
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    271 Ac Little Mississippi Cemetery Rd Franklin, TX 77856
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    Franklin, TX 77856
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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
    271 Ac Little Mississippi Cemetery Rd Franklin, TX 77856
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    We can help!
    Listing Contact
    James Hammond
    James Hammond
    Real Estate License ID: 0706375
    (817) 525-0851 (979) 693-9100 (281) 599-7600
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