Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakefront Land in Cliffs Resort Title is generated by Realmo AI

    400 Clubhouse Drive, Graford, TX 76449

    View on Map
    Claim this Listing
    For Sale
    $876,000

    Unimproved Land - Graford, TX

    Type:Unimproved Land
    Lot size:
    0.15 Acres
    Added:
    Dec 12, 2025
    Days on Market:
    169
    Last Refresh:
    May 30 at 12:06 am

    Property Features for 400 Clubhouse Drive

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R000568761
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Expense value
    650
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Semi-Annually

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Stephen Miller

    Listing agent Stephen Miller License #0461251

    Listing office Heritage Real Estate 5030 E. University, Suite B 401, Odessa, TX

    Listing date Dec 12, 2025

    MLS# 21113969 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.

    HighLights

    • Panoramic lake front views of Possum Kingdom Lake
    • Owner financing available
    • Located in The Cliffs Resort Community
    • Cul‑de‑sac lot with wider backyard overlooking the lake
    • Short walk to on‑site restaurant
    • Surrounded by championship golf course

    Overview

    This 0.148-acre property offers panoramic lakefront views of Possum Kingdom Lake. Located inside the prestigious Cliffs Resort community, this lot is suited for building a waterfront weekend getaway or full-time home. Lot 11 is a cul-de-sac lot with a wider backyard overlooking the lake. The location combines natural beauty with resort living. The property is a short distance from the on-site restaurant. Surrounded by a championship golf course, this property is suitable for golf enthusiasts and nature lovers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Department Store HVAC Service Grocery & Convenience Store Wine and Liquor Store Car Rental Facility Restaurant Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.2671
    Latitude
    32.9289

    Nearby Similar for Sale

    • $3,995,000
      5,500 SF

      Highway Frontage Investment Opportunity

      Commercial property near Possum Kingdom Lake with income potential.
      13285 N State Highway 16, Graford, TX 76449
      View Details
    • $3,995,000

      Commercial Property on Peninsula at PK

      High-traffic commercial property with service bays, storage units, and expansion.
      1770 Fm 2951, Graford, TX 76449
      View Details
    • $175,000

      Possum Kingdom Lake Land Opportunity

      Unimproved land near Possum Kingdom Lake with business potential.
      303 N Fm 2353, Possum Kingdom Lake, TX 76449
      View Details
    • $1,875,000

      Multifunction Ranch with Historic Charm

      89+ acre ranch ideal for recreation, residence, or hunting.
      2946 FM 52, Oran, TX 76449
      View Details
    • $950,000

      Possum Kingdom Lake Waterfront Homesite

      1.88-acre waterfront lot with lake views and resort-style amenities.
      1131 Panorama Way, Graford, TX 76449
      View Details
    • $425,000

      Golf Course Lot with Mountain Views

      Prepped double lot with utilities on Possum Kingdom Lake.
      223 Oak Tree Drive, Possum Kingdom Lake, TX 76449
      View Details
    • $1,500,000

      Waterfront Land at Possum Kingdom

      1.193-acre waterfront lot in Gaines Bend community.
      1013 Mesquite Ridge, Possum Kingdom Lake, TX 76449
      View Details
    • $12,000

      Possum Kingdom Lake Homesite Opportunity

      Homesite in The Cliffs Resort with access to amenities.
      435 Cypress Point, Possum Kingdom Lake, TX 76449
      View Details
    • $695,000

      Possum Kingdom Lake View Lot

      0.585-acre homesite with panoramic lake views in Graford, TX.
      Lot 5 E Hells Gate Drive, Graford, TX 76449
      View Details
    • $5,780,351

      North Texas Ranch Near Lake

      731+/- acre ranch near Possum Kingdom Lake.
      4140 N State Highway 16 lot: 1, , TX 76449
      View Details
    • $3,995,000
      17,484 SF

      Highway Frontage Investment Opportunity

      Commercial property near Possum Kingdom Lake with income potential.
      13285 N State Highway 16, Graford, TX 76449
      View Details
    • $169,000

      Scenic Land with Lake Views

      5-acre tract in gated community near Possum Kingdom Lake.
      1620 Canyon Wren Loop, Graford, TX 76449
      View Details

    FAQs

    What type of property is this?
    Land - Unimproved land with panoramic lake views in prestigious resort community.
    Where is this land located?
    The property is located at 400 Clubhouse Drive Graford, TX.
    What is the asking price?
    The asking price for this property is $876,000.
    What are key features of this property?
    This property features: Panoramic lake front views of Possum Kingdom Lake; Owner financing available; Located in The Cliffs Resort Community
    (432) 701-0550
    We can help!
    Listing Contact
    Stephen Miller
    Real Estate License ID: 0461251
    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

    Thank You for Inquiry
    400 Clubhouse Drive, Graford, TX 76449
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!