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    The Largest CRE Database in the US with Over 1 Million Listings

    396 Lcr 510 Mexia, TX 76667

    Sponsored
    For Sale
    Under Contract
    $650,000

    Ranch, Farm/Ranch - Mexia, TX

    Type:Farm
    Property size:
    2,150 SF
    Lot size:
    42.28 Acres
    Days on Market:
    21
    Last Refresh:
    Jan 23 at 4:06 pm

    Property Features for 396 Lcr 510

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active Under Contract
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    R21855
    Parking features
    Carport, Covered, Driveway, Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Eat-in Kitchen
    Exterior features
    Covered Patio/Porch, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Microwave, Range, Refrigerator, Washer
    Size
    2,150 SF
    Lot size
    42.28 Acres

    Utilities

    Heating system
    Active Solar, Fireplace(s), Solar (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1988
    Floors in Building
    1
    Flooring type
    Carpet, Tile
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Amanda Lloyd

    Pure Broker, LLC (512) 800-6984

    Listing agent Amanda Lloyd (254) 300-4034 License #0752908

    Listing date Jan 3, 2026

    MLS# 20900839 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

    Picturesque Ranch with Modern Conveniences

    This Farm and Ranch property, situated on approximately 42 acres near Mexia, TX, offers a blend of country living and modern convenience. The property includes a mix of wooded and open land. The ranch-style home features 3 bedrooms, 2 full bathrooms, and a 2-car garage. The home's exterior is brick, and it has a metal roof. The layout provides a flow between living areas. The property includes two stocked tanks suitable for fishing. Established trails wind through wooded areas and open pastures. Wildlife, including deer, can be observed on the property. Solar panels are installed, which have historically covered electricity bills. The land is partially fenced and features mature trees. The property is located less than 10 minutes from amenities such as H-E-B, Walmart, and Starbucks.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Clothing Store Nail Salon Daycare Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mexia
    County
    Limestone
    State
    Texas
    Longitude
    -96.41283192
    Latitude
    31.64510245

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    FAQs

    What type of property is this?
    Farm - 42-acre ranch near Mexia, TX, with serene country living.
    Where is this farm located?
    The property is located at 396 Lcr 510 Mexia, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - 42-acre Farm and Ranch property offering a blend of wooded and open land, ideal for nature enthusiasts and those seeking privacy.; - Ranch-style home with 3 bedrooms, 2 bathrooms, brick exterior, and metal roof for durability and classic appeal.; - Two stocked tanks for fishing and serene water views, plus established trails through diverse landscapes with abundant wildlife.
    (254) 776-0000
    Request Owner's contact information
    396 Lcr 510 Mexia, TX 76667
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    Mexia, TX 76667
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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
    396 Lcr 510 Mexia, TX 76667
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    We can help!
    Listing Contact
    Amanda Lloyd
    Real Estate License ID: 0752908
    (254) 776-0000
    Learn more
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