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    Ranch Hunting and Fishing Land Title is generated by Realmo AI

    1208 County Road 304, Throckmorton, TX 76843

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    Claim this Listing
    For Sale
    $6,036,800

    LAND - Throckmorton, TX

    Lot size:
    1,232.00 Acres
    Added:
    Mar 30, 2026
    Days on Market:
    69
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 1208 County Road 304

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared, Grassed, Brush, Wooded
    Standard status
    Active
    APN
    1550
    Lot size
    1,232.00 Acres

    Taxes and HOA fees

    Tax Description
    BBB & C RR Co Sur 299, Abs 173
    Tax Annual Amount
    3000

    Utilities

    Sewer type
    Septic Tank
    Water front features
    Lake Front
    Water front
    1

    Building Details

    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Marsha Spinks

    Listing agent Marsha Spinks License #0633785

    Listing office Liveoak Land & Real Estate Coleman, TX

    Listing date Mar 30, 2026

    MLS# 21073533 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

    • 20+ acres on Cooper Lake with lakefront water features and stocked tanks for fishing
    • Two seasonal creeks with deep holes that hold water year‑round across the property
    • Sewer: septic tank; electricity available throughout via Fort Belknap Electric Co‑Op
    • Rural water available through Fort Griffin Rural Water Supply
    • Quail hunter’s house with 2 beds and 1 bath
    • Minerals: one‑half of the producing minerals available with an acceptable offer

    Overview

    This expansive ranch property features Cooper Lake (20+ acres) and a dozen other tanks that are stocked for fishing. Two seasonal creeks traverse the land and include deep holes that hold water year-round, feeding the water features across the property. Cleared grasslands provide grazing areas, while additional acreage is covered with oak, mesquite, hackberry, and elm for hunting opportunities.

    Access is provided off highway US 380, with the property described as minutes from Throckmorton, supporting a practical drive from the DFW, Lubbock, Midland, and Abilene areas. The acreage is also positioned as being surrounded on three sides by a very large ranch that does not allow hunting, while the habitat on the Cooper’s Lake ranch has been described as well protected. The property is associated with an on-site quail hunter’s house with two beds and one bath, along with a large barn and additional sheds.

    For buyers looking for a turn-key outdoor ranch setup, the combination of year-round water, diverse habitat coverage, and existing improvements supports cattle operations and recreational use. The barn area includes working pens and numerous traps, and utilities are described as available through Fort Belknap Electric Co-Op and rural water through Fort Griffin Rural Water Supply. A portion of producing minerals is also available, with one-half offered with an acceptable offer.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Throckmorton
    County
    Throckmorton
    State
    Texas
    Longitude
    -99.142766
    Latitude
    33.16889

    FAQs

    What type of property is this?
    Hunting land - Cooper Lake plus multiple stocked tanks and year-round water features support fishing, grazing, and hunting habitat.
    Where is this hunting land located?
    The property is located at 1208 County Road 304 Throckmorton, TX.
    What is the asking price?
    The asking price for this property is $6,036,800.
    What are key features of this property?
    This property features: 20+ acres on Cooper Lake with lakefront water features and stocked tanks for fishing; Two seasonal creeks with deep holes that hold water year‑round across the property; Sewer: septic tank; electricity available throughout via Fort Belknap Electric Co‑Op
    (325) 642-1999
    We can help!
    Listing Contact
    Marsha Spinks
    Real Estate License ID: 0633785
    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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