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    689 & 691 Fm 1272 Grapeland, TX 75844

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    For Sale
    $1,499,900

    Ideal for horses, cattle, or agricultural use.

    Type:Farm and Ranch Properties
    Property size:
    3,489 SF
    Lot size:
    105.00 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 10 at 9:19 am

    Property Features for 689 & 691 Fm 1272

    General Information

    Standard status
    Active
    Size
    3,489 SF
    Lot size
    105.00 Acres
    Property subtype
    Farm and Ranch Properties

    Building Details

    Year Built
    1997

    We can help!

    Listing Contact
    Kayla Riggs
    Kayla Riggs

    Listing agent Kayla Riggs License #0718668

    Listing office Keller Williams Realty-Tyler

    Listing date Apr 15, 2026

    Source Elliman

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

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty-Tyler

    Overview

    105 Acres with Two Homes

    This 105-acre property features two homes and is suitable for horses, cattle, or various agricultural uses. The main residence spans 3489 square feet and includes 4 bedrooms and 3.5 bathrooms. It has a new roof, 6-inch gutters, and truss construction allowing for a flexible floor plan. Outdoor amenities include a heated pool, hot tub, slide, and volleyball setup, all controllable via the Pentair app. The property also features a barn with a dirt floor and a concrete tack/storage area powered by owned solar. A 3200-square-foot shop offers spray foam insulation, water, 5 oversized bays, an RV hookup, and bonus space above. The barndominium provides 1400 square feet of living space with 1 bedroom and 1 bathroom, surround sound, a wraparound porch, and an outdoor kitchen powered by propane. The land includes a creek and a spring-fed pond sourced from 5 natural springs, as well as an additional pond in a secondary pasture. Agricultural exemptions are in place for hay, timber, and a donkey farm. An additional homesite at the road is equipped with water, septic, and electric. Located near Salmon Lake Park, the property combines space, functionality, and natural beauty.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Grapeland
    County
    Houston
    State
    Texas
    Longitude
    -95.48891
    Latitude
    31.50185

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    FAQs

    What type of property is this?
    Horse & equestrian property - Ideal for horses, cattle, or agricultural use.
    Where is this horse & equestrian property located?
    The property is located at 689 & 691 Fm 1272 Grapeland, TX.
    What is the asking price?
    The asking price for this property is $1,499,900.
    What are key features of this property?
    This property features: 105‑acre property ideal for agricultural use with ag exemptions.; Main house: **3489 sq ft with 4 bedrooms, 3.5 bathrooms, and a new roof.**; **3200 sq ft shop with spray foam insulation, water, 5 oversized bays, and RV hookup.**
    (903) 534-6600
    We can help!
    Listing Contact
    Kayla Riggs
    Kayla Riggs
    Real Estate License ID: 0718668
    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.

    More about this property
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