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

    Hwy 83 Leakey, TX 78873

    View on Map
    Claim this Listing
    For Sale
    $2,995,000

    LAND - Leakey, TX

    Lot size:
    230.00 Acres
    Added:
    Nov 25, 2025
    Days on Market:
    142
    Last Refresh:
    Apr 16 at 7:06 pm

    Property Features for Hwy 83

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    17467
    Lot size
    230.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1500

    We can help!

    Listing Contact
    Bryan Pickens

    Listing agent Bryan Pickens License #0592462

    Listing office Republic Ranches, LLC 3535 Westheimer Rd Ste. 227, Houston, TX

    Listing date Nov 25, 2025

    MLS# 159537 Listing URL

    Copyright © 2026 Odessa Board 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

    Unique Ranch in Frio Canyon

    The Waterfalls Ranch is located in the Frio River Canyon and is part of the Frio Canyon community. The ranch offers a live water creek flowing in front of a newly placed one-bedroom Drop House. The property, spanning 230 acres, includes views, privacy, hardwood-filled canyons, and hiking trails.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Leakey
    County
    Real
    State
    Texas
    Longitude
    -99.7633453
    Latitude
    29.7207075

    Nearby Similar for Sale

    • $179,900
      252 SF

      Commercial Lot with Highway Frontage

      Half-acre lot with US-83 frontage and city water.
      1272 S Hwy 83, Leakey, TX 78873
      View Details
    • $90,000

      Heavily Wooded Leakey Land

      Huntable 10.37 acre tract with cabin and views.
      11586 Ranch Rd 336, Leakey, TX 78873
      View Details
    • $400,000

      Leakey, TX Land with Utilities

      2.16 acres in Twin Forks with Frio River access.
      101 Patterson Rd, Leakey, TX 78873
      View Details
    • $795,500

      Unrestricted Land Near Frio River

      48 acres of unrestricted land near the Frio River.
      Little Dry Frio, Leakey, TX 78873
      View Details
    • $525,000

      Frio Riverfront Residential Lot

      1.263 acre lot with 122+ feet of river frontage.
      5824 N US Hwy 83, Leakey, TX 78873
      View Details
    • $572,400

      28.62 Acres in Leakey, TX

      Expansive Texas Hill Country property with panoramic views and hunting.
      20 Winchester, Leakey, TX 78873
      View Details
    • $149,900

      Leakey, TX Residential Land

      Spacious lot in Twin Forks Subdivision near Frio River.
      Leinweber Dr., Leakey, TX 78873
      View Details
    • $135,000

      Scenic Lot in Twin Forks

      Treed lot near Frio River in gated community.
      140 Spring Branch Dr., Leakey, TX 78873
      View Details
    • $572,400

      Texas Hill Country Land

      Expansive 28.62-acre property with panoramic views near Frio River.
      20 Winchester, Leakey, TX 78873
      View Details
    • $225,000

      Unrestricted Hill Country Land

      11.5 acres near Frio River and Garner State Park.
      Little Dry Frio RD, Leakey, TX 78873
      View Details
    • $215,000

      Large Lot in River Tree

      14-acre lot with amenities near Frio River.
      254 Possum Haw Holly Trail unit: 2A, Leakey, TX 78873
      View Details
    • $197,000

      Frio Riverfront Land in Leakey

      Riverfront lot with utilities and management services near Leakey, TX.
      440 Red Wright Rd, Leakey, TX 78873
      View Details

    FAQs

    What type of property is this?
    Ranch - Hill Country ranch with live water creek and amenities.
    Where is this ranch located?
    The property is located at Hwy 83 Leakey, TX.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: Live water creek flowing in front of the Drop House.; Located in the Frio River Canyon.; Part of the Frio Canyon community offering numerous amenities.
    (214) 552-4417
    We can help!
    Listing Contact
    Bryan Pickens
    Real Estate License ID: 0592462
    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!