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    Texas Hill Country Ranch Land Title is generated by Realmo AI

    3049 Reservation Road, Harper, TX 78631

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    Claim this Listing
    For Sale
    $2,084,870

    219-acre ranch near Harper, TX, with development potential.

    Type:Farm / Ranch
    Lot size:
    219.00 Acres
    Added:
    Sep 22, 2024
    Days on Market:
    617
    Last Refresh:
    Mar 13 at 4:36 pm

    Property Features for 3049 Reservation Road

    General Information

    Standard status
    Active
    Lot size
    219.00 Acres
    Property subtype
    Farm / Ranch

    We can help!

    Listing Contact
    Sonny Allen

    Listing agent Sonny Allen License #0299393

    Listing office Keller Williams Realty

    Listing date Sep 22, 2024

    Source Compass

    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

    HighLights

    • Prime location: Minutes from Fredericksburg, under 1.5 hours from San Antonio and Austin.
    • Unrestricted land with road frontage suitable for building a dream home or development project.
    • 219 acres of rolling Texas Hill Country landscape with native brush, pasture, mature oaks, and abundant wildlife.
    • Electric power is in place, and an older water well is present (needs verification).
    • Ideal for hunting and livestock grazing.
    • Located in the desirable Harper Independent School District and close to Kerrville, Boerne, and the Texas Wine Country.

    Overview

    This approximately 219-acre ranch presents various opportunities due to its location. The natural landscape is suitable for a recreational ranch. Its location and configuration also allow for development, building, or ranching. Situated in the Texas Hill Country on Reservation Road near Harper, Texas, the Tres Hermanos Ranch features a rolling landscape that combines privacy and beauty. The ranch has approximately 1,800 feet of paved frontage on Reservation Road, connecting State Hwy 290 and Fm 479. Located west of Fredericksburg and within driving distance of San Antonio and Austin, this ranch offers rural living with convenience. It is located within the Harper Independent School District and near Kerrville, Boerne, and the Texas Wine Country. The land includes native brush and pasture, along with mature oaks and a wildlife population, including whitetail deer. The terrain and Purves mineral soils are suited for livestock grazing or wildlife management. The fencing includes three low-fenced sides and one high-fenced western boundary. Electric power is available, and there is an older water well. The property is unrestricted, allowing for the construction of a ranch home, retreat, or ranch headquarters. It can be used as a place to raise livestock, a recreational sanctuary, or a legacy property.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Harper
    County
    Gillespie
    State
    Texas
    Longitude
    -99.2972722
    Latitude
    30.2499859

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    FAQs

    What type of property is this?
    Ranch - 219-acre ranch near Harper, TX, with development potential.
    Where is this ranch located?
    The property is located at 3049 Reservation Road Harper, TX.
    What is the asking price?
    The asking price for this property is $2,084,870.
    What are key features of this property?
    This property features: Prime location: Minutes from Fredericksburg, under 1.5 hours from San Antonio and Austin.; Unrestricted land with road frontage suitable for building a dream home or development project.; 219 acres of rolling Texas Hill Country landscape with native brush, pasture, mature oaks, and abundant wildlife.
    (512) 762-2563
    We can help!
    Listing Contact
    Sonny Allen
    Real Estate License ID: 0299393
    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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