Golf Course and
For Sale
$9,900,000
22049 Fm 1995, Lindale, TX 75771
Golf resort property with clubhouse, restaurant, event space, pool, and related recreational amenities.
Property Size28,095 SF
Lot Size452.00 Acres
Price / SF$352.38
Days on Market366
Property Features for 22049 Fm 1995
General Information
Standard status
Active
Size
28,095 SF
Lot size
452.00 Acres
Property subtype
Commercial
Land
Land Use
golf, mixed-use residential
Subdividable
Yes
Amenities
event center
pool
pro shop
offices
sauna rooms
sitting areas
18 hole golf course
Building Details
Year Built
1992
Listing Agency:
Attlee Realty, LLC
Listed By:
Teresa Baudino (972) 886-8357 · License #0519899
(972) 886-8357
Source:
Granburyhomefinder
Added: Sep 28, 2025
Changed: Sep 2
Last Checked: Sep 26 at 7:36AM
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 Attlee Realty, LLC
Investment Insights
Based on property information with market context.
This golf course property comprises 452 acres of buildings and land, including an additional 136.5 acres of raw land. The improvements include a 28,000-square-foot clubhouse with a full restaurant, event center, pool, pro shop, bar, offices, sauna rooms, and sitting areas. Built in 1992, the clubhouse serves an 18-hole course that wraps around Butler Lake. The property is not currently open for business.
Multiple parcels are included. The source identifies potential land use for continued golf operations or mixed-use residential development. The property is within Lindale ISD, approximately five minutes from Texas Rose Horse Park, 25 minutes from Tyler, and 50 minutes from downtown Dallas.
Multiple parcels are included. The source identifies potential land use for continued golf operations or mixed-use residential development. The property is within Lindale ISD, approximately five minutes from Texas Rose Horse Park, 25 minutes from Tyler, and 50 minutes from downtown Dallas.
Key Highlights
- 452 acres of golf course property, buildings, and land
- Additional 136.5 acres of raw land included
- 28,000‑square‑foot clubhouse built in 1992
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$503,849
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,076,980
$10.1M
Cap Rate 7%
$7,197,843
$7.2M
Cap Rate 9%
$5,598,322
$5.6M
Market Conditions
NOI Build-Up for 28,095 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$701.3K $24.96/SF
− Vacancy
−$29.5K −$1.05/SF
EGI
$671.8K $23.91/SF
− OpEx
−$167.9K −$5.98/SF
NOI
$503.8K $17.93/SF
Area
Smith County, TX
Vacancy
4.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,076,980
Cap Rate 7%
$7,197,843
Cap Rate 9%
$5,598,322
Alternative Uses
Best Use
Hotel Hospitality
$21.16M
$18.52M – $24.69M
NOI $1,481,309 @ 7.0% cap · market cap 14.96%
Second Best
Specialty Retail
$7.20M
$6.30M – $8.40M
NOI $503,849 @ 7.0% cap · market cap 5.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Golf course & driving range - Golf resort property with clubhouse, restaurant, event space, pool, and related recreational amenities.
Where is this golf course & driving range located?
The property is located at 22049 Fm 1995 Lindale, TX.
What is the asking price?
The asking price for this property is $9,900,000.
What are key features of this property?
This property features: 452 acres of golf course property, buildings, and land; Additional 136.5 acres of raw land included; 28,000‑square‑foot clubhouse built in 1992
