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    Tbd Merritt Rd Forestburg, TX 76239

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    Sponsored
    For Sale
    $1,899,000

    Unimproved Land - Forestburg, TX

    Type:Unimproved Land
    Lot size:
    180.70 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 12 at 2:06 pm

    Property Features for Tbd Merritt Rd

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R000010971
    Exterior features
    Private Entrance
    Lot size
    180.70 Acres

    Utilities

    Heating system
    None (Heating)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Macdougall

    MacDougall Ranch Properties, LLC (817) 600-1620

    Listing agent Robert Macdougall (817) 600-1620 License #0655623

    Listing date Mar 11, 2026

    MLS# 21204755 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

    Property Insight Report

    Overview

    Forestburg Land Ideal for Recreation

    This 180.7-acre ranch property is located near Forestburg in Montague County. The land features a mix of large oak trees and open native grasses, suitable for hunting, cattle grazing, horseback riding, or recreation. The property has no existing structures. It is located approximately 63 miles from Fort Worth, 36 miles northwest of Denton, and 23 miles north of Decatur. The property has over 700 feet of county road frontage with electric service available along the road. A wet-weather creek crosses the ranch through a wooded area with ravines, providing habitat for whitetail deer, turkey, and wild hogs. There are elevation changes of 80 feet throughout the ranch, with open grassy acreage at higher elevations, offering scenic views and potential building sites. There is one stock tank located near the Merritt Road frontage and potential sites for constructing additional ponds. There are several registered water wells in the area with reported depths ranging from 260ft -530ft with flows of 10-15 gallons per minute. The property is currently ag-exempt. There is one oil-gas well site on this property, located at the rear of the property and accessed from the neighboring eastern property. Boundaries are approximate and based upon a recent survey that will be provided to the new owners.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Forestburg
    County
    Montague
    State
    Texas
    Longitude
    -97.5471
    Latitude
    33.4731

    Nearby Similar for Sale

    • $425,000
      28.45 Acres

      Ranch Land in Forestburg, Texas

      28.45 acre ranch property for sale in Forestburg, Texas.
      334 Greanead Rd, Forestburg, TX 76239
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 180.7-acre ranch property perfect for building or recreation.
    Where is this agricultural land / farmland located?
    The property is located at Tbd Merritt Rd Forestburg, TX.
    What is the asking price?
    The asking price for this property is $1,899,000.
    What are key features of this property?
    This property features: - Large 180.7-acre ranch property, build your dream home or weekend getaway.; - Mix of large trees and open native grasses ideal for hunting, cattle grazing, recreation, and relaxation.; - Conveniently located near Forestburg, with easy access to Fort Worth, Denton, and Decatur.
    (817) 600-1620
    Request Owner's contact information
    Tbd Merritt Rd Forestburg, TX 76239
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    Forestburg, TX 76239
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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
    Tbd Merritt Rd Forestburg, TX 76239
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    We can help!
    Listing Contact
    Robert Macdougall
    Real Estate License ID: 0655623
    (817) 600-1620
    Learn more
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