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    718 W Cr 301 Merkel, TX 75455

    View on Map
    Sponsored
    For Sale
    Under Contract
    $3,800,000

    Ranch - Merkel, TX

    Type:Ranch
    Lot size:
    987.94 Acres
    Days on Market:
    74
    Last Refresh:
    Mar 10 at 3:06 pm

    Property Features for 718 W Cr 301

    General Information

    Property type
    Land
    Property subtype
    Ranch
    Standard status
    Active Under Contract
    APN
    46880
    Lot size
    987.94 Acres

    Building Details

    Year built
    1965
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Samuel Walker

    Rawhide, REALTORS (325) 692-5039

    Listing agent Samuel Walker (325) 676-2255 License #0613659

    Listing date Dec 26, 2025

    MLS# 20944201 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

    Overview

    West Texas Hill Country Ranch

    This ranch in the West Texas Hill Country offers recreational opportunities with over 400 feet of elevation change, including the historic East Peak. Improved roads provide access throughout the 987.936-acre property. Water resources include two working water wells, several ponds (one reportedly 25 feet deep and stocked with fish, and another spring-fed), and one pond covering over 5 acres when full. The property is suited for hunting whitetail deer, Rio Grande Turkey, Bob White quail, and wild hogs. The pond nearest the house is reportedly stocked with catfish, perch, and bass. Agricultural improvements include low fence perimeter fencing, interior fencing into 5 separate pastures for rotational grazing, cattle guards, approximately 100 acres seeded with improved grasses and wildflowers, and centrally located livestock pens. Structural improvements at the Headquarters include a 2,791 SF, 4-bedroom residence with an attached garage, a 9 ft inground swimming pool, hot tub, and a pavilion with a commercial kitchen and restroom. The yard surrounding the residence is landscaped and has a sprinkler system which runs off one of the wells. There is a 1,080 SF metal barn as well as an 800 SF livestock barn attached to the pens. All owned minerals will convey; owner reported half owned but buyer to verify.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Merkel
    County
    Taylor
    State
    Texas
    Longitude
    -99.9882
    Latitude
    32.3811

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    FAQs

    What type of property is this?
    Ranch - 987+ acre ranch featuring diverse terrain and recreational opportunities.
    Where is this ranch located?
    The property is located at 718 W Cr 301 Merkel, TX.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: - Unmatched recreational attributes with over 400 feet of elevation change and 3.5 miles of private mountainsides.; - Abundant water resources including two working wells and several ponds, including a spring-fed pond and a 5+ acre pond.; - Excellent hunting opportunities for whitetail deer, Rio Grande Turkey, and more.
    (325) 676-2255
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    718 W Cr 301 Merkel, TX 75455
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    Merkel, TX 75455
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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
    718 W Cr 301 Merkel, TX 75455
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    We can help!
    Listing Contact
    Samuel Walker
    Real Estate License ID: 0613659
    (325) 676-2255 (325) 668-7005 (325) 692-5039
    Learn more
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