Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    TBD Armadillo Drive Murchison, TX 75778

    View on Map
    New
    Picture of Residential land & home lots at TBD Armadillo Drive, Murchison, TX
    For Sale
    $125,000

    Lots,Vacant, Vacant - MURCHISON, TX

    Lot size:
    5.46 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    7
    Last Refresh:
    Apr 1 at 4:06 pm

    Property Features for TBD Armadillo Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    N/A
    Exterior features
    None, Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    066.2070.0020.0030.0000
    Lot size
    5.46 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Steve Grant

    Listing agent Steve Grant

    Listing office STEVE GRANT REAL ESTATE, LLC 406 E CORSICANA ST, ATHENS, TX

    Listing date Mar 26, 2026

    MLS# 103186 Listing URL

    Copyright © 2026 Palestine 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.

    Overview

    Callender Lake Wooded Lots

    Located in the Callender Lake Community in Van Zandt County, these five wooded lots on Armadillo Drive encompass approximately 5.46 acres. The property offers privacy and natural beauty, providing an ideal setting for building a custom dream home. Residents benefit from access to Callender Lake, a community clubhouse, and a playground. The area is home to local wildlife.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Murchison
    County
    Henderson
    State
    Texas
    Longitude
    -95.8011
    Latitude
    32.327

    Nearby Similar for Sale

    • $485,000
      1,154 SF

      Murchison Farmhouse on 48+ Acres

      Farmhouse on 48.64 acres with pasture, woods, creek, and pond.
      10142 FM 773, MURCHISON, TX 75778
      View Details
    • $31,500

      Heavily Wooded Lots Near Lake

      Three wooded lots in gated community with lake access.
      000 Woodcreek Drive, Murchison, TX 75778
      View Details
    • $99,000

      Callender Lake Triple Lot Parcel

      0.8 acre triple-lot in gated Callender Lake community.
      105 & 119 Huntley Creek, Murchison, TX 75778
      View Details
    • $7,900

      Callender Lake Treed Residential Lot

      0.21 acre lot in gated lake community.
      232 Sunny Ridge, Murchison, TX 75778
      View Details
    • $52,350

      Murchison Land in Gated Community

      3.349 acres in Echo Creek Country Club, Murchison, TX.
      Tbd Lot 84r LLoyd Drive, Murchison, TX 75778
      View Details
    • $37,965

      Murchison, TX Unimproved Land

      2.531 acres in Echo Creek Country Club.
      Tbd Lot 75r Lloyd Drive, Murchison, TX 75778
      View Details
    • $89,500

      Waterfront Land with Bunk House

      Waterfront lots with bunk house, RV carport, and dock.
      108 Cottonwood Lane, Murchison, TX 75778
      View Details
    • $129,885

      Prime Acreage in Gated Community

      8.659 acres in Echo Creek Country Club, Murchison, TX.
      Tbd Lot 79r LLOYD Drive, Murchison, TX 75778
      View Details
    • $32,000

      Heavily Wooded Lot Near Lake

      0.21 acre lot in gated community near Callender Lake.
      000 Callender Lake Drive, Murchison, TX 75778
      View Details
    • $11,000

      Wooded Lot in Gated Community

      0.24 acre lot in Callender Lake community.
      000 Hideaway, Murchison, TX 75778
      View Details
    • $485,000
      1,154 SF

      Murchison Farmhouse on 48+ Acres

      Farmhouse on 48.64 acres with pasture, woods, creek, and pond.
      10142 FM 773, Murchison, TX 75778
      View Details
    • $10,900

      Callender Lake Wooded Corner Lot

      Wooded 0.21-acre corner lot in gated Callender Lake community.
      Lt 15 Sunny Ridge, Murchison, TX 75778
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Five wooded lots in Callender Lake Community.
    Where is this residential land & home lot located?
    The property is located at TBD Armadillo Drive Murchison, TX.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Five wooded lots totaling approximately 5.46 acres offer privacy and space to build a dream home.; Located in the Callender Lake Community, providing access to Callender Lake.; Community amenities include a clubhouse and playground.
    (903) 675-3503
    We can help!
    Listing Contact
    Steve Grant
    Real Estate License ID: 0247804
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!