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    Irrigated Farmland with Pivot System Title is generated by Realmo AI

    00FM 266 FM266 Corner, Goree, TX 76363

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    Claim this Listing
    For Sale
    $696,500

    LAND - Other - Goree, TX

    Lot size:
    198.99 Acres
    Added:
    Feb 17, 2026
    Days on Market:
    107
    Last Refresh:
    Jun 4 at 9:06 am

    Property Features for 00FM 266 FM266 Corner

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Crops
    Standard status
    Active
    APN
    R000006132
    Lot size
    198.99 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    David Bourquin
    David Bourquin

    Listing agent David Bourquin License #0596715

    Listing office BOURQUIN REALTY Mineral Wells, TX

    Listing date Feb 17, 2026

    MLS# 21175648 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

    • 200‑acre property currently used for framing cotton
    • Five water wells supply the pivot irrigation system
    • Pivot irrigation system covers approximately 60 acres
    • Easy access for large tractors and heavy equipment from FM 266
    • Corner property with additional access off the County Road

    Overview

    This irrigated farmland is currently being used for framing cotton and is set up with a pivot irrigation system supplied by five water wells. The pivot is reported to cover approximately 60 acres, with the remainder maintained for productive farming use. The property is described as having good soil composition, and it also supports a strong wildlife presence, with plenty of deer noted in the area.

    Operational access is a practical advantage. Large tractors and heavy equipment are described as easy to bring onto the property coming off FM 266, and because it is a corner parcel, you can also access from the county road. The corner layout provides convenient entry options for farming operations throughout the season.

    For buyers looking for farmland that can generate income through established irrigation, this property offers a solid starting point with working well infrastructure and a functional pivot system. It may also appeal to agricultural investors seeking manageable logistics for equipment use and the flexibility of multiple access points, while the current cotton operation can help guide early production planning.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Goree
    County
    Knox
    State
    Texas
    Longitude
    -99.5263
    Latitude
    33.4949

    FAQs

    What type of property is this?
    Farm - Well-maintained cotton ground with five water wells and pivot irrigation for dependable seasonal production.
    Where is this farm located?
    The property is located at 00FM 266 FM266 Corner Goree, TX.
    What is the asking price?
    The asking price for this property is $696,500.
    What are key features of this property?
    This property features: 200‑acre property currently used for framing cotton; Five water wells supply the pivot irrigation system; Pivot irrigation system covers approximately 60 acres
    (940) 329-5070
    We can help!
    Listing Contact
    David Bourquin
    David Bourquin
    Real Estate License ID: 0596715
    Learn More
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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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