Ranch with Executive Golf
For Sale
$4,850,000
1000 County Road 904, Joshua, TX 76058
Joshua, TX
Property Size7,363 SF
Price / SF$658.70
Days on Market39
Property Features for 1000 County Road 904
General Information
Property type
Residential
Property subtype
Farm
Bedrooms
9
Bathrooms
8
Full bathrooms
7
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bedroom 9, Bedroom 7, Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 4
Subdivision
George Cassaland Patent 414 Ab
Elementary school
Elder
Middle school
Tom and Nita Nichols
High school
Joshua
Standard status
Active
Size
7,363 SF
Building Details
Year built
2022
Listing Agency:
Engel & Volkers Fort Worth · Engel & Völkers
(817) 900-6899
Listed By:
Sarah Hardy · License #0679469
Added: Jul 15
Changed: Aug 20
Last Checked: Aug 22 at 9:06AM
MLS# 21153782
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set across 24 acres in Joshua, Texas, this ranch includes a professionally designed 9-hole, Par 30 executive golf course with synthetic greens, Bermuda fairways, and well-supplied irrigation. Limestone elements, decorative bridges, creeks, and two stocked ponds with aerating fountains add water features and landscape character. The ponds also serve as irrigation sources.
Five homes are positioned throughout the wooded property for guest lodging, private use, or rental use. Additional improvements include a greenhouse, workshops, pasture areas, and an RV pad. Built in 2022, the property is near Granbury Regional Airport, which has a 4,000-square-foot terminal and an extended runway. The address is 1000 County Road 904, Joshua, TX 76058.
Five homes are positioned throughout the wooded property for guest lodging, private use, or rental use. Additional improvements include a greenhouse, workshops, pasture areas, and an RV pad. Built in 2022, the property is near Granbury Regional Airport, which has a 4,000-square-foot terminal and an extended runway. The address is 1000 County Road 904, Joshua, TX 76058.
Key Highlights
- 24‑acre ranch property in Joshua, Texas
- Professionally designed 9‑hole, Par 30 executive golf course
- Synthetic greens, Bermuda fairways, and well‑fed irrigation system
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$388,214
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,764,280
$7.8M
Cap Rate 7%
$5,545,914
$5.5M
Cap Rate 9%
$4,313,489
$4.3M
Market Conditions
NOI Build-Up for 7,363 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$883.6K $120.00/SF
− Vacancy
−$66.3K −$9.00/SF
EGI
$817.3K $111.00/SF
− OpEx
−$429.1K −$58.28/SF
NOI
$388.2K $52.72/SF
Area
Johnson County, TX
Vacancy
7.50%
Lease Rate
$120.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,764,280
Cap Rate 7%
$5,545,914
Cap Rate 9%
$4,313,489
Alternative Uses
Best Use
Hotel Hospitality
$5.55M
$4.85M – $6.47M
NOI $388,214 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$88.26M
$77.23M – $102.97M
NOI $6,178,039 @ 7.0% cap · market cap 127.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 76058, TX
20,940
Population
7,851
Households
2.7
Avg Household Size
36
Median Age
20%
College-Educated
81%
High-School Grad
51.9 sq mi
ZIP Area
403
Density / Sq Mi
$66,719
Median Household Income
$39,277
Median Earnings
$1,347
Median Rent
$224,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Ranch - Ranch property with an executive golf course, stocked ponds, and multiple homes.
Where is this ranch located?
The property is located at 1000 County Road 904 Joshua, TX.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: 24‑acre ranch property in Joshua, Texas; Professionally designed 9‑hole, Par 30 executive golf course; Synthetic greens, Bermuda fairways, and well‑fed irrigation system
