Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lake Graham Unimproved Land with Runway Title is generated by Realmo AI

    460 Eastside Lake Road, Graham, TX 76450

    View on Map
    Claim this Listing
    For Sale
    $2,375,000

    Unimproved Land - Graham, TX

    Type:Unimproved Land
    Property size:
    1,200 SF
    Lot size:
    120.00 Acres
    Price / SF:
    $1,979/SF
    Added:
    Feb 12, 2026
    Days on Market:
    93
    Last Refresh:
    May 16 at 5:06 pm

    Property Features for 460 Eastside Lake Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    16642
    Size
    1,200 SF
    Lot size
    120.00 Acres

    Building Details

    Year built
    2000
    Building materials
    Aluminum Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    D. Lee Edwards
    D. Lee Edwards

    Listing agent D. Lee Edwards License #0435290

    Listing office D Lee Edwards Realty, Inc 1111 N Walnut Avenue, New Braunfels, TX

    Listing date Feb 12, 2026

    MLS# 21178855 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

    • 120+- acre ag exempt property with Lake Graham access.
    • 3,100 ft FAA approved runway.
    • Custom 125' x 125' high‑quality airport hangar with 1,200 sq ft of living area and 1,200 sq ft of mechanical/storage facility.
    • Hangar features a 65' x 17' hydraulic door and 15,625 sq ft clear span (holds 15‑20 aircraft).
    • Well‑stocked pond.
    • Cattle‑ready acreage with adequate water sources and power.

    Overview

    This 120-acre property, located on Lake Graham, is ag exempt and suitable for flying, fishing, and ranching. It features a 3,100 ft FAA-approved runway, a well-stocked pond, and lake access. The property includes a custom 125' x 125' high-quality airport hangar with 1,200 sq ft of living area and 1,200 sq ft of enclosed mechanical and storage facility. The hangar features a 65' x 17' hydraulic door and 15,625 sq ft of clear span space, capable of housing 15-20 aircraft. With a center height of 29', it can accommodate a King Air aircraft. The acreage is equipped for cattle with water sources and power. The property is suitable for development, including a fly-in community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aviation real estate

    Map

    City
    Graham
    County
    Young
    State
    Texas
    Longitude
    -98.621978
    Latitude
    33.171236

    Nearby Similar for Sale

    • $999,999
      5,000 SF

      Established Restaurant on Highway 16

      Turn-key restaurant opportunity in high-traffic Graham, Texas location.
      1111 State Highway 16 S, Graham, TX 76450
      View Details
    • $650,000

      Professional Building in Central Graham

      Well-maintained office building ideal for various professional uses.
      620 Oak Street, Graham, TX 76450
      View Details
    • $399,000

      Historic Landmark on Downtown Square

      Iconic 1917 building on Graham's largest downtown square.
      700 Elm Street, Graham, TX 76450
      View Details
    • $450,000

      Historic Office Building in Graham

      Prime commercial office building near downtown Graham and Young County Courthouse.
      408 4th Street, Graham, TX 76450
      View Details
    • $899,700

      Versatile Industrial Yard with Facilities

      Expansive industrial property with office, shop, and secure yard.
      528 US Highway 380 W, Graham, TX 76450
      View Details
    • $450,000

      Commercial Office Complex in Graham, TX

      Commercial office complex with 14 offices in Graham, TX.
      620 4th Street, Graham, TX 76450
      View Details
    • $5,250,000
      7,970 SF

      Texas Ranch with Luxury Barndominium

      High-fenced ranch near Graham, TX with barndominium and guest house.
      10000 Fm 209, Graham, TX 76450
      View Details
    • $334,000

      Commercial Building in Medical District

      Updated commercial building in high-traffic area, ideal for business.
      1317 East, Graham, TX 76450
      View Details
    • $360,000

      Unrestricted Land Near Highway 16

      Unrestricted land with highway access, ideal for commercial or industrial.
      2410 State Highway 16 S, Graham, TX 76450
      View Details
    • $699,000

      79-Acre Retreat with Cabin

      Secluded 79-acre property with cabin near Graham, Texas.
      1685 Rocky Mound Road, Graham, TX 76450
      View Details
    • $569,000

      Graham, TX Business Opportunity

      Oil lube and service station on 1.3 acres.
      164 US Highway 380 W, Graham, TX 76450
      View Details
    • $1,695,000

      Turnkey Ranch with Luxury Barndominium

      81-acre ranch featuring a barndominium, equestrian facilities, and recreational amenities.
      1950 Hamilton Road, Graham, TX 76450
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 120-acre ag exempt property with FAA-approved runway and lake access.
    Where is this agricultural land / farmland located?
    The property is located at 460 Eastside Lake Road Graham, TX.
    What is the asking price?
    The asking price for this property is $2,375,000.
    What are key features of this property?
    This property features: 120+- acre ag exempt property with Lake Graham access.; 3,100 ft FAA approved runway.; Custom 125' x 125' high‑quality airport hangar with 1,200 sq ft of living area and 1,200 sq ft of mechanical/storage facility.
    (830) 620-7653
    We can help!
    Listing Contact
    D. Lee Edwards
    D. Lee Edwards
    Real Estate License ID: 0435290
    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
    460 Eastside Lake Road, Graham, TX 76450
    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!