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    Recreation Land with Wildlife Cover Title is generated by Realmo AI

    150 Mountain Drive, Graford, TX 76449

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    Claim this Listing
    For Sale
    $444,396

    LAND - Graford, TX

    Lot size:
    51.17 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for 150 Mountain Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R000567093
    Lot size
    51.17 Acres

    We can help!

    Listing Contact
    Jared Kennedy

    Listing agent Jared Kennedy License #816602

    Listing office Whitetail Properties Real Estate Boerne, TX

    Listing date Apr 21, 2026

    MLS# 21045895 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

    • 51.17+/- acre unimproved tract just outside Graford, Palo Pinto County
    • Electricity available at the road; light deed restrictions in place
    • Rolling terrain with a mix of mesquite and cedar cover plus bluestem and gama grass
    • Existing hunting setup includes a blind and corn and protein feeders that convey
    • Public boat ramp on Possum Kingdom about 17 miles away for water access
    • Can be combined with two neighboring properties for up to 137.55+/- acres available

    Overview

    This unimproved North Texas tract offers 51.17+/- acres of rolling ground with a healthy mix of mesquite and cedar for cover. Vegetation includes solid stands of bluestem and gama grass, creating a natural habitat for consistent native wildlife. A hunting blind is already in place, along with corn and protein feeders that convey, allowing the property to be used right away for hunting or general recreation.

    The land sits just outside Graford in Palo Pinto County, with a short drive to Possum Kingdom Lake. Electricity is available at the road, providing options for future weekend improvements or a longer-term homesite approach. The area is governed by light deed restrictions designed to help keep the surroundings maintained, and the tract is positioned for quiet country enjoyment while still being close to local conveniences.

    For buyers seeking a self-contained hunting and recreation property, this configuration supports ready-to-use outdoor activity thanks to the existing blind and feeders. It also has flexibility for future development, including the possibility of building on the property over time. The tract can stand alone or be combined with neighboring parcels, and there is an assumable note through Capital Farm Credit, subject to approval.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.2469919
    Latitude
    32.9376218

    Nearby Similar for Sale

    • $950,000

      Waterfront Land Homesite

      Lakefront land with mature trees and expansive views, offering a rare canvas for a private retreat at Possum Kingdom Lake.
      1131 Panorama Way, Graford, TX 76449
      View Details
    • $875,000

      Waterfront Trail Ridge Homesite

      Build-ready homesite near Possum Kingdom Lake with adjacent parcel option for estate-scale privacy.
      2181 Trail Ridge # 2, Graford, TX 76449
      View Details
    • $3,995,000

      Automotive Service & Storage Facility

      Newly built automotive service and showroom facility with multiple bays, parts area, office space, and extensive storage options.
      1770 Fm 2951, Graford, TX 76449
      View Details

    FAQs

    What type of property is this?
    Hunting land - Rolling acreage with mesquite and cedar cover, established feeders, and a hunting blind for immediate outdoor use.
    Where is this hunting land located?
    The property is located at 150 Mountain Drive Graford, TX.
    What is the asking price?
    The asking price for this property is $444,396.
    What are key features of this property?
    This property features: 51.17+/- acre unimproved tract just outside Graford, Palo Pinto County; Electricity available at the road; light deed restrictions in place; Rolling terrain with a mix of mesquite and cedar cover plus bluestem and gama grass
    (830) 428-0096
    We can help!
    Listing Contact
    Jared Kennedy
    Real Estate License ID: 816602
    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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