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    Equestrian Ranch with Arena & Ponds Title is generated by Realmo AI

    Mitchell Road, Krum, TX 76249

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    Claim this Listing
    For Sale
    $4,350,000

    LAND - Krum, TX

    Property size:
    5,600 SF
    Lot size:
    42.70 Acres
    Price / SF:
    $776/SF
    Added:
    May 18, 2026
    Days on Market:
    18
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for Mitchell Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed
    Exterior features
    Lighting, PrivateYard, RainGutters, Storage
    Fencing
    Gate, Fenced, Perimeter
    Fireplace
    1
    Standard status
    Active
    APN
    R660822
    Lot size
    42.70 Acres

    Taxes and HOA fees

    Tax Description
    A0168A BBB & CRR, TR 7I,8E, 14.2 ACRES
    Tax Annual Amount
    8

    Utilities

    Sewer type
    Aerobic Septic, Septic Tank
    Heating system
    Fireplace(s), Central, Electric (Heating)
    Cooling system
    Electric, Central Air, Ceiling Fan(s)
    Water source
    Well, Public

    Building Details

    Additional Structures
    Storage, Arena

    We can help!

    Listing Contact
    Michael Hershenberg
    Michael Hershenberg

    Listing agent Michael Hershenberg License #0668097

    Listing office Real Broker, LLC Dallas, TX

    Listing date May 18, 2026

    MLS# 21160097 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

    • Approximately 42 acres with premier frontage, wide‑open pasture views, mature trees, and 3 ponds—just minutes from Denton & US‑380.
    • Residential home built in 2008: 5,600+ SF ranch with 4 bedrooms and 3.5 baths, plus a dedicated home office.
    • 40,000‑gallon saltwater pool on the property for outdoor recreation with panoramic pasture views.
    • Equestrian setup includes a 200x150 arena, 23 indoor stalls with potential to expand to 40, and 9,000+ SF of covered barn/support space.
    • Barn complex features include a 50x40 front barn (heated & air‑conditioned), a 40x10 wash room with mini‑split and water heater, and tack areas with dual mini‑splits.
    • Utilities include a functioning well plus public water, and aerobic septic with a septic tank.

    Overview

    This exceptional equestrian ranch combines a comfortable residential setup with purpose-built horse facilities across approximately 42 acres. The included ranch home was built in 2008 and features a large interior layout with four bedrooms and three-and-a-half baths, along with a dedicated home office and entertaining-ready spaces. Outdoors, the property also offers a 40,000-gallon saltwater pool and wide, open views over the surrounding pastures.

    The grounds are enhanced by mature trees and three ponds, creating a scenic setting supported by a functioning well and aerobic system. A 200x150 equestrian arena anchors the operations area, complemented by 23 indoor stalls with potential to expand to 40. Covered barn and support space totals more than 9,000 square feet, including a heated and air-conditioned front barn, wash and tack facilities, a covered stall area with water, electric, and lighting to each stall, and additional storage and utility structures.

    For buyers seeking a turnkey ranch, this property is well suited for an active equestrian operation that needs an arena, indoor stabling, and substantial support space, or for a private family ranch that values privacy, amenities, and long-term flexibility for future use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Krum
    County
    Denton
    State
    Texas
    Longitude
    -97.2590997
    Latitude
    33.2536995

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    FAQs

    What type of property is this?
    Horse & equestrian property - A 42+ acre ranch offering an arena, multiple ponds, and extensive covered barn improvements for equestrian operations or a private estate.
    Where is this horse & equestrian property located?
    The property is located at Mitchell Road Krum, TX.
    What is the asking price?
    The asking price for this property is $4,350,000.
    What are key features of this property?
    This property features: Approximately 42 acres with premier frontage, wide‑open pasture views, mature trees, and 3 ponds—just minutes from Denton & US‑380.; Residential home built in 2008: 5,600+ SF ranch with 4 bedrooms and 3.5 baths, plus a dedicated home office.; 40,000‑gallon saltwater pool on the property for outdoor recreation with panoramic pasture views.
    (214) 202-7615
    We can help!
    Listing Contact
    Michael Hershenberg
    Michael Hershenberg
    Real Estate License ID: 0668097
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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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