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    Recreation and Hunting Land Tract Title is generated by Realmo AI

    TBD 380th Ave, Palco, KS 67657

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    Claim this Listing
    For Sale
    $475,000

    Vacant Land - Palco, KS

    Lot size:
    318.16 Acres
    Added:
    Jan 20, 2026
    Days on Market:
    137
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for TBD 380th Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    318.16 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Doug Wagoner

    Listing agent Doug Wagoner

    Listing office Arrowhead Land Company 205 E Dewey Ave, Sapulpa, KS

    Listing date Jan 20, 2026

    MLS# 11636495 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 318.16 +/- acre tract in Graham County, Kansas, offered with approximately 202 +/- acres of dryland tillable ground
    • Additional 66 +/- acres of partially fenced grass for agricultural use and recreation
    • 50.16 +/- acre brushy waterway with seasonal wetlands runs near the center of the property
    • Draw features include scattered hardwoods and tall native grasses, providing cover between tillable fields
    • Convenient access to nearby towns: about 8 +/- miles SW of Palco, 23 +/- miles SE of Hill City, 30 +/- miles NE of WaKeeney, and 36 +/- miles NW of Hays
    • All showings by appointment only; boundary lines shown are approximate and buyers are advised to obtain an independent survey

    Overview

    This vacant land offering presents a 318.16 +/- acre tract in Graham County, Kansas, combining approximately 202 +/- acres of dryland tillable ground and 66 +/- acres of partially fenced grass. A 50.16 +/- acre brushy waterway with seasonal wetlands runs near the center of the property, creating a natural corridor within the acreage. Scattered hardwoods and tall native grasses provide cover between the tillable fields, contributing to a landscape suited to wildlife habitat.

    The property is situated roughly 8 +/- miles southwest of Palco, with additional driving distance to Hill City, WaKeeney, and Hays noted in the remarks. While the listing emphasizes seclusion alongside access, showings are by appointment only. Prospective buyers should note the disclaimer that boundary lines shown are approximate and that an independent survey is recommended to confirm exact property boundaries.

    From a buyer’s perspective, the mix of tillable ground and native cover supports dual-use potential for agricultural production and recreational hunting. The presence of seasonal wetlands, brushy draws, and an internal bedding/travel corridor makes the tract especially appealing for tenants or operators seeking a consolidated acreage for outdoor use, with the option to manage both field and grass components as part of their overall plan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Palco
    County
    Rooks
    State
    Kansas
    Longitude
    -99.642353
    Latitude
    39.147369

    FAQs

    What type of property is this?
    Agricultural land / Farmland - A large Kansas tract combining dryland tillable acres, partially fenced grass, and a brushy waterway corridor.
    Where is this agricultural land / farmland located?
    The property is located at TBD 380th Ave Palco, KS.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: 318.16 +/- acre tract in Graham County, Kansas, offered with approximately 202 +/- acres of dryland tillable ground; Additional 66 +/- acres of partially fenced grass for agricultural use and recreation; 50.16 +/- acre brushy waterway with seasonal wetlands runs near the center of the property
    833USEAHLC
    We can help!
    Listing Contact
    Doug Wagoner
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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.

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