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    Dryland Farmland and Pasture Tract Title is generated by Realmo AI

    E Hwy 87 lot Legal, Eden, TX 76837

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    For Sale
    $2,117,500

    LAND - Eden, TX

    Lot size:
    385.00 Acres
    Added:
    Mar 4, 2026
    Days on Market:
    94
    Last Refresh:
    Jun 6 at 8:06 am

    Property Features for E Hwy 87 lot Legal

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    385.00 Acres

    Taxes and HOA fees

    Tax Description
    Acres 210.000, Blk 02020, Abst 305, Survey T GOLDBECK, AB 305 SUR2020 T GOLDBECK (PID R000001360); Apx 175 acres on the south side of US Highway 87 out of Acres 659.980, Blk 2840, Abst 163, Survey FIS

    Utilities

    Utilities
    Electricity Available
    Water front
    1

    We can help!

    Listing Contact
    Sterling Davidson Fryar
    Sterling Davidson Fryar

    Listing agent Sterling Davidson Fryar License #0585689

    Listing office Keller Williams Synergy 2117 Knickerbocker, Abilene, TX

    Listing date Mar 4, 2026

    MLS# 129757 Listing URL

    Copyright © 2026 San Angelo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 315 acres of dryland farmland plus 70 acres of native pasture or hunting area
    • Water well on site does not convey; it serves the owner’s residence across US Highway 87 to the north
    • About 4,400 ft of frontage along Brady Creek, with some areas up to 90' wide
    • Perimeter fencing reported as below average to poor condition due to the property’s primarily farmland use
    • Active farming lease signed in August 2025 runs through August 2030; lease copy available with acceptable offer
    • Verbal hunting lease agreement in place; hunting tenant owns the blinds on the property

    Overview

    The property is a rural land tract offering a mix of dryland farmland and native pasture or hunting area. Perimeter fencing is reported to be below average to poor condition, reflecting the property’s primary use as farmland. A water well is located on-site but will not convey because it serves the owner’s residence located across U.S. Highway 87 to the north. The ranch includes approximately 4,400 feet of frontage along Brady Creek, with some segments reported to be about 90 feet wide.

    The site is accessed along E Hwy 87, and it is located in Eden, Texas, in Concho County. The creek frontage provides natural boundary characteristics along portions of the property.

    This tract is suited to buyers seeking agricultural land with existing farming operations in place. An active farming lease was signed in August 2025 and runs until August 2030, and a copy of the lease agreement can be provided with an acceptable offer. The owner also reports a verbal hunting lease arrangement, and that the hunting tenant owns all blinds on the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Eden
    County
    Concho
    State
    Texas
    Longitude
    -99.827839
    Latitude
    31.216341

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    FAQs

    What type of property is this?
    Farm - Large rural land holding with dryland farming and native pasture or hunting areas.
    Where is this farm located?
    The property is located at E Hwy 87 lot Legal Eden, TX.
    What is the asking price?
    The asking price for this property is $2,117,500.
    What are key features of this property?
    This property features: Approximately 315 acres of dryland farmland plus 70 acres of native pasture or hunting area; Water well on site does not convey; it serves the owner’s residence across US Highway 87 to the north; About 4,400 ft of frontage along Brady Creek, with some areas up to 90' wide
    (325) 276-0757
    We can help!
    Listing Contact
    Sterling Davidson Fryar
    Sterling Davidson Fryar
    Real Estate License ID: 0585689
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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.

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