Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1281 Pr, Unit 3740 Coleman, TX 76888

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $17,999,000

    5,833-acre ranch featuring over 10 miles of lake frontage.

    Lot size:
    5,833.00 Acres

    Property Features for 1281 Pr

    General Information

    Lot size
    5,833.00 Acres

    We can help!

    Listing Contact
    Alice Duffy
    Source: Elliman

    Listing Agent: Alice Duffy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Legacy Ranch with Lake Frontage

    Padgitt Ranch is a legacy mixed-use agricultural and recreational property encompassing over 5,833 acres. The ranch, which has been under the same family ownership since 1878, features diverse terrain and water access on Lake O. H. Ivie. Stretching across southwest Coleman County and a small part of southeast Runnels County, the ranch includes over 10 miles of frontage on Lake O.H. Ivie when the lake is full. Located in Voss, Texas, the property's position provides water access, scenic views, and a mix of open pastures, wooded areas, creek bottoms, and elevated ridgelines. The property combines seclusion with accessibility, making it suitable for cattle operations, outdoor recreation, or legacy ownership.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Coleman
    County
    Coleman
    State
    Texas
    Longitude
    -99.5918
    Latitude
    31.6356

    Nearby Similar for Sale

    • $2,200,000
      127.44 Acres

      Turnkey Ranch with Multiple Homes

      Meticulously improved ranch with multiple homes and scenic views.
      5782 Fm 2131, Coleman, TX 76834
      View Details
    • New
      $250,000
      2,400 SF

      Versatile Property Near Coleman, Texas

      2,400 sq ft property ideal for residential or commercial use.
      775 County Road 194, Coleman, TX 76834
      View Details
    • $270,000
      0.14 Acres

      Downtown Coleman Retail Opportunity

      Two-story retail property in downtown Coleman with historical charm.
      217 S Commercial Ave, Coleman, TX 76834
      View Details
    • $159,900
      0.84 Acres

      Coleman, TX Mixed-Use Opportunity

      Commercial property with restaurant, living quarters, and Hords Creek view.
      1302 Highway St, Coleman, TX 76834
      View Details
    • $395,000
      4.25 Acres

      Secluded Lake Coleman Peninsula Retreat

      Private 4.25-acre peninsula with floating cabin on Lake Coleman.
      Coleman, TX 76834
      View Details
    • $69,000
      0.32 Acres

      Warehouse in High-Traffic Area

      Warehouse in Coleman, TX, with high potential and excellent location.
      201 E Liveoak St, Coleman, TX 76834
      View Details
    • $159,000
      0.17 Acres

      Historic Retail Property in Coleman

      Versatile historic property with storefronts and workshop spaces for sale.
      115 E Pecan St, Coleman, TX 76834
      View Details
    • $750,000
      0.39 Acres

      Established Restaurant & Bar For Sale

      Restaurant and bar with immediate income potential in high-traffic location.
      601 S Commercial Ave, Coleman, TX 76834
      View Details
    • $450,000
      0.34 Acres

      Downtown Coleman Building with Potential

      7500 sq ft building in thriving downtown Coleman, Texas.
      106 East St, Coleman, TX 76834
      View Details
    • $450,000
      7,500 SF

      Downtown Coleman Commercial Opportunity

      7500 sq ft commercial building in thriving Coleman, Texas.
      106 East St, Coleman, TX 76834
      View Details
    • $185,000
      1.73 Acres

      Established Entertainment Venue For Sale

      Multi-purpose entertainment venue with dance hall, bar, and live music.
      1400 S 84 Byp, Coleman, TX 76834
      View Details
    • $236,500
      0.37 Acres

      Storage Facility in Coleman, Texas

      29-unit storage facility in prime Coleman, TX location for sale.
      1401 N Neches St, Coleman, TX 76834
      View Details

    FAQs

    What type of property is this?
    Ranch - 5,833-acre ranch featuring over 10 miles of lake frontage.
    Where is this ranch located?
    The property is located at 1281 Pr, Unit 3740 Coleman, TX.
    What is the asking price?
    The asking price for this property is $17,999,000.
    What are key features of this property?
    This property features: - Over 5,833 acres of diverse terrain with 10 miles of frontage on Lake O.H. Ivie.; - Unmatched water access to Lake O.H. Ivie, a top trophy bass fishing lake.; - Legacy ranch property owned by the same family since 1878.
    (512) 784-2345
    Request Owner's contact information
    1281 Pr, Unit 3740 Coleman, TX 76888
    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.
    1281 Pr, Unit 3740
    Coleman, TX 76888
    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
    1281 Pr, Unit 3740 Coleman, TX 76888
    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

    We can help!
    Listing Contact
    Alice Duffy
    Real Estate License ID: TX 0681288
    (512) 784-2345
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.