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    5451 N Highway 144 Granbury, TX 76048

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    For Sale
    $1,499,000

    Barndominium,Modern Farmhouse,Ranch, Farm/Ranch - Granbury, TX

    Type:Farm
    Property size:
    2,016 SF
    Lot size:
    23.66 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 18 at 4:06 am

    Property Features for 5451 N Highway 144

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Carport, RV
    Patio and Porch features
    Patio, Porch
    Interior features
    Built-in Features, Decorative Lighting, Eat-in Kitchen, Kitchen Island, Natural Woodwork, Open Floorplan
    Exterior features
    Built-in Barbecue, Covered Patio/Porch, Fire Pit, Lighting, Outdoor Grill, Outdoor Kitchen, Outdoor Living Center, Outdoor Shower, Rv Hookup, Rv/Boat Parking, Stable/Barn, Storage, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Gas, Dishwasher, Microwave, Oven - Double, Washer
    Standard status
    Active
    APN
    12104
    Size
    2,016 SF
    Lot size
    23.66 Acres

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air

    Building Details

    Year built
    2021
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Metal Siding, Stone
    Roof type
    Metal
    Architectural style
    Modern
    Additional Structures
    Barn(s), Outdoor Kitchen, RV/Boat Storage, Stable(s), Storage

    We can help!

    Listing Contact
    Kaley Slemmons

    Listing agent Kaley Slemmons License #0814302

    Listing office Texas Legacy Realty 135 W Ellison Suite #205, Glen Rose, TX

    Listing date Apr 16, 2026

    MLS# 21238300 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

    Granbury Horse Property with Commercial Potential

    This 23.66-acre horse property in Granbury, Texas, offers a blend of rustic charm and functional country living with potential commercial use. The property includes a 2,016 square-foot home featuring three bedrooms and two bathrooms. Designed for equestrian and livestock use, the property features a 60x60 shop with concrete floors, a separate 3-stall horse barn with a tack room and dirt flooring, pipe fencing, multiple pastures, and a lean-to for shelter. A riding pen is available for training and enjoyment. The property also includes a large outdoor entertaining area, suitable for hosting and relaxation. Mature oak, elm, and pecan trees provide shade and enhance the natural beauty of the land. A bonus guest quarters offers flexibility for guests and extended family. The property's location and versatility present opportunities for commercial use, making it suitable for horse enthusiasts, business owners, or those seeking a peaceful country lifestyle with added potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Restaurant Building Supply Auto Parts Store Accounting Firm Storage Facility Furniture & Home Goods Auto Repair Shop Car Rental Facility Clothing & Fashion Store Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.780558
    Latitude
    32.376652

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    FAQs

    What type of property is this?
    Horse & equestrian property - 23-acre horse property with a 2,016 sq ft home.
    Where is this horse & equestrian property located?
    The property is located at 5451 N Highway 144 Granbury, TX.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: 23‑acre horse property with potential for commercial use; 60x60 shop with concrete floors and a 3‑stall horse barn with tack room; Features a 3‑bedroom, 2‑bath home with approximately 2,016 square feet
    (817) 312-6165
    We can help!
    Listing Contact
    Kaley Slemmons
    Real Estate License ID: 0814302
    Learn More
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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
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