Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    46 Acres FM 339 S Groesbeck, TX 76642

    View on Map
    Claim this Listing
    For Sale
    $325,000

    Unimproved Land - Groesbeck, TX

    Type:Unimproved Land
    Lot size:
    46.00 Acres
    Added:
    Jun 10, 2025
    Days on Market:
    330
    Last Refresh:
    May 5 at 10:06 pm

    Property Features for 46 Acres FM 339 S

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Exterior features
    Other, Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    R4057
    Lot size
    46.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kara McLelland
    Kara McLelland

    Listing agent Kara McLelland License #0587384

    Listing office Realty Plus - Groesbeck 311 E. Yeagua Street, Groesbeck, TX

    Listing date Jun 10, 2025

    MLS# 223595 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

    46 Acres of Recreational Land

    This 46-acre tract, located east of Mart and south of Hwy 164 near Ben Hur, offers opportunities for recreational use, cattle raising, and homesteading. It is situated approximately 30 minutes from the eastern boundary of Waco. The property features open native pasture with flat to gently rolling topography and black clay soil. Almost complete perimeter fencing is in place. Water resources include three ponds. Mesquite trees are present on the land. Improvements consist of a 12x12 insulated cabin with a deck, with recently added electricity, a shipping container for storage, and working pens suitable for cattle or other animals. Currently, all but 5 acres of the property are under an agricultural tax exemption. Tri County water lines are in the area, but prospective buyers should verify the availability and cost of a water meter. Well water is not typically considered reliable in the area. A portion of the north end of the property is within a FEMA flood zone.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Groesbeck
    County
    Limestone
    State
    Texas
    Longitude
    -96.747246
    Latitude
    31.454178

    Nearby Similar for Sale

    • $150,000

      Renovated Car Wash on Highway

      Turnkey, self-service car wash on high-traffic Highway 14.
      617 N Ellis, Groesbeck, TX 76642
      View Details
    • $1,490,000

      Unrestricted Land with Highway Frontage

      127-acre unrestricted land with dual highway and railroad frontage.
      0 Highway 14, Groesbeck, TX 76642
      View Details
    • $225,000

      Lake Limestone Recreational Land For Sale

      Unrestricted 1.28 acre property near Lake Limestone, Texas.
      186 Lcr 775, Groesbeck, TX 76642
      View Details
    • $486,000

      Cleared Pasture Land with Pecans

      48.49 acres of pastureland near Fort Parker and lake.
      0000 LCR 454, Groesbeck, TX 76642
      View Details
    • $2,220,000

      Texas Ranch with Navasota River

      230-acre ranch featuring 1.5 miles of Navasota River frontage.
      0 LCR 412, Groesbeck, TX 76642
      View Details
    • $149,999

      15 Acres Ranchette in Groesbeck, TX

      15 acres ranchette near Groesbeck, Mexia, and Lake Limestone.
      FM 39, Groesbeck, TX 76642
      View Details
    • $550,000

      Lake Limestone Waterfront Land

      6.06 acres with water views and waterfront access.
      279 Pr 5749, Groesbeck, TX 76642
      View Details
    • $319,900

      Unrestricted Ranch in Limestone County

      42.42-acre ranch with productive soil and creek frontage.
      1127 Limestone County Road 607, Groesbeck, TX 76642
      View Details
    • $35,000

      Oversized Lot in Groesbeck, TX

      0.809-acre lot with utilities ready for development.
      1018 W Angeline Street, Groesbeck, TX 76642
      View Details
    • $179,900

      Lakefront Land with Utilities

      1.34 acres with utilities and lake access in Groesbeck.
      184 LCR 752A, Groesbeck, TX 76642
      View Details
    • $1,089,900

      Groesbeck Ranch with Live Water

      150-acre ranch featuring improved pasture, timber, and live water.
      303 LCR 626 Road, Groesbeck, TX 76642
      View Details
    • $417,590

      41 Acres of Untouched Land

      41.759 acres in Limestone County with highway frontage.
      Tbd TX-14, Groesbeck, TX 76642
      View Details

    FAQs

    What type of property is this?
    Ranch - 46 acre tract with cabin, ponds, and perimeter fencing.
    Where is this ranch located?
    The property is located at 46 Acres FM 339 S Groesbeck, TX.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 46‑acre tract ideal for recreation, cattle, or homesteading.; **12x12 insulated cabin with a deck and recently added electricity.**; Features 3 ponds, perimeter fencing, and working pens.
    (254) 265-0112
    We can help!
    Listing Contact
    Kara McLelland
    Kara McLelland
    Real Estate License ID: 0587384
    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

    Thank You for Inquiry
    46 Acres FM 339 S, Groesbeck, TX 76642
    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!