Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land with Open Space Title is generated by Realmo AI

    1028 Salvation Drive, Weatherford, TX 76088

    View on Map
    Claim this Listing
    For Sale
    $138,000

    LAND - Weatherford, TX

    Lot size:
    2.06 Acres
    Added:
    May 26, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 3 at 3:06 am

    Property Features for 1028 Salvation Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R000124293
    Lot size
    2.06 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Bryan Blagg

    Listing agent Bryan Blagg License #0691560

    Listing office Bryan Blagg Real Estate Sherman, TX

    Listing date May 26, 2026

    MLS# 21196388 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

    • Lot includes well water and septic tank sewer service
    • Freeman Ranch is located off Interstate 20, near Weatherford
    • Millsap ISD
    • Deed restrictions apply; buyer to verify all information

    Overview

    This residential homesite offers wide-open space within Freeman Ranch and totals 2.06 acres. The property is marketed as a peaceful setting to build and enjoy room to spread out, with deed restrictions in place. Buyers are encouraged to verify all information prior to purchase.

    Freeman Ranch is described as conveniently located off Interstate 20, placing the area within reach of local destinations. The remarks also note nearby parks and lakes, along with shopping and dining options in downtown Weatherford. Fort Worth is described as a short drive away for additional entertainment and cultural attractions.

    With the combination of acreage and ranch-style surroundings, this lot is well suited for buyers seeking a more rural-feeling residential environment while still maintaining practical access to the broader Weatherford/Fort Worth area. The property is in Millsap ISD, and the presence of deed restrictions can help support consistency for long-term neighborhood character.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Weatherford
    County
    Parker
    State
    Texas
    Longitude
    -97.86902
    Latitude
    32.784941

    Nearby Similar for Sale

    • $1,450,000
      8,802 SF

      Historic Mixed-Use Building in Weatherford

      Two-story historic property in Weatherford's Downtown Square.
      101 College Avenue, Weatherford, TX 76086
      View Details
    • $3,590,000
      10,000 SF

      Established Stone Fabrication Business For Sale

      Profitable stone fabrication and installation business on 3+ acres.
      2927 Greenlee Park, Weatherford, TX 76088
      View Details
    • $2,850,000
      7,000 SF

      Weatherford Retail Investment Opportunity

      Multi-tenant retail property with expansion potential in Weatherford, TX.
      323 W 4th Street, Weatherford, TX 76086
      View Details
    • $4,445,000
      9,921 SF

      Wedding and Event Venue Property

      Architecturally designed venue with a large indoor hall, outdoor ceremony options, and event-ready amenities for consistent bookings.
      6000 Tucker Drive, Weatherford, TX 76085
      View Details
    • $1,500,000
      1,299 SF

      Highway Frontage Investment Opportunity

      3.916-acre property with highway frontage, ideal for development.
      1252 Ric Williamson Memorial Highway, Weatherford, TX 76088
      View Details
    • $2,995,500
      11,200 SF

      High-Visibility Retail Development Site

      Multi-building retail-ready site with highway frontage, strong visibility, and extensive undeveloped parking for future expansion.
      2020 FORT WORTH Highway, Weatherford, TX 76086
      View Details
    • $1,545,000
      6,413 SF

      Weatherford Event Venue and Development

      Premier event venue on 15.92 acres with Highway 180 frontage.
      3220 Mineral Wells Highway, Weatherford, TX 76088
      View Details
    • $825,000

      Updated Office Building with Multiple Entrances

      Updated office building offers flexible entry points, private offices, and a large conference room for teams.
      1012 Fort Worth Highway, Weatherford, TX 76086
      View Details
    • $950,000
      2,700 SF

      Equestrian Estate with Arena

      10-acre equestrian estate featuring arena, barn, and pasture.
      2196 Old Agnes Road, Weatherford, TX 76088
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - A spacious homesite in a planned ranch setting, with deed restrictions and access near major interstate routes.
    Where is this residential land & home lot located?
    The property is located at 1028 Salvation Drive Weatherford, TX.
    What is the asking price?
    The asking price for this property is $138,000.
    What are key features of this property?
    This property features: Lot includes well water and septic tank sewer service; Freeman Ranch is located off Interstate 20, near Weatherford; Millsap ISD
    (817) 939-8488
    We can help!
    Listing Contact
    Bryan Blagg
    Real Estate License ID: 0691560
    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

    Thank You for Inquiry
    1028 Salvation Drive, Weatherford, TX 76088
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!