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    Waterfront Residential Land Development Title is generated by Realmo AI

    102 Comanche Trail, Nocona, TX 76255

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    Claim this Listing
    For Sale
    $5,000,000

    LAND - Nocona, TX

    Lot size:
    125.00 Acres
    Added:
    Aug 17, 2025
    Days on Market:
    294
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 102 Comanche Trail

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    RV
    Vegetation
    Grassed, Brush, Cleared, Wooded
    Standard status
    Active
    APN
    R000018542
    Lot size
    125.00 Acres

    Taxes and HOA fees

    Tax Description
    LOT 550; NOCONA HILLS
    Tax Annual Amount
    426

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Water source
    Public
    Water front features
    Lake Front
    Water front
    1

    Building Details

    Additional Structures
    Storage

    We can help!

    Listing Contact
    Jp Findley

    Listing agent Jp Findley License #0669753

    Listing office Compass RE Texas, LLC Dallas, TX

    Listing date Aug 17, 2025

    MLS# 21034178 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

    • Package includes 500 individually deeded and platted .25‑acre residential lots in Nocona Hills on Lake Nocona
    • Lots include electricity, public water, and high‑speed internet service, with sewer provided via septic tank
    • Gated community with a 24‑hour manned gate and HOA‑maintained roads for resident access
    • Waterfront community with a private community boat ramp on Lake Nocona
    • Amenities include an 18‑hole private golf course and a clubhouse currently being renovated
    • Airpark amenities include a 3,000' grass over asphalt landing strip

    Overview

    Set within Nocona Hills on Lake Nocona, this offering includes individually deeded, platted residential lots in a rural, gated community. The lots come with electricity, water, and high-speed internet service already available, supporting ready-to-build planning for future home sites. The package also features an entrance-area commercial real estate office that is included with the development.

    Nocona Hills is located in Montague County and is presented as a mostly undiscovered regional opportunity, with roads and a 24-hour manned gate maintained by the homeowner’s association. Community amenities include a private community boat ramp on Lake Nocona, an 18-hole private golf course, a clubhouse that is currently being renovated, and a 3,000-foot grass over asphalt airpark landing strip.

    This land assemblage is well-suited for investors seeking a capital deployment with utilities already in place, as well as residential home builders aiming to develop a signature waterfront project. Buyers who value a master-planned community approach may also find the included commercial office useful for continued sales to visitors traveling to the area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Kitchen & Bath Showroom Plumbing Service Nursing Home Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nocona
    County
    Montague
    State
    Texas
    Longitude
    -97.650106
    Latitude
    33.839388

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    FAQs

    What type of property is this?
    Residential land & home lot - Gated Lake Nocona community with deeded residential lots, utilities in place, and planned amenities for builders and investors.
    Where is this residential land & home lot located?
    The property is located at 102 Comanche Trail Nocona, TX.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: Package includes 500 individually deeded and platted .25‑acre residential lots in Nocona Hills on Lake Nocona; Lots include electricity, public water, and high‑speed internet service, with sewer provided via septic tank; Gated community with a 24‑hour manned gate and HOA‑maintained roads for resident access
    (214) 814-8100
    We can help!
    Listing Contact
    Jp Findley
    Real Estate License ID: 0669753
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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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