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    Hunting and Ranch Land with Stock Tanks Title is generated by Realmo AI

    240 Acres Middlebrooks Lane, Jacksboro, TX 76458

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    For Sale
    $1,860,000

    LAND - Jacksboro, TX

    Lot size:
    240.00 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 3 at 5:06 am

    Property Features for 240 Acres Middlebrooks Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    5047
    Lot size
    240.00 Acres

    Taxes and HOA fees

    Tax Description
    AB 1702, I.H. Martin & AB 1137, G. Mahler Survey
    Tax Annual Amount
    324

    We can help!

    Listing Contact
    Miles Maddox

    Listing agent Miles Maddox License #0606637

    Listing office Maddox Realty Jacksboro, TX

    Listing date Apr 10, 2026

    MLS# 21175232 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

    • 240‑acre tract on Battle Mountain just north of Jacksboro, TX with scenic views to the north, west, and south
    • 4 stock tanks, including one near 2 acres; mostly covered with post oaks
    • Previously cultivated field at the center of the property
    • Electricity available; ag exempt
    • Working pens and easements; accessed via a 0.25‑mile easement off Middlebrooks Lane
    • Oil and gas on site with two pump jacks; oil and gas lease accessed from the west side of the property

    Overview

    This 240-acre tract offers a rugged ranch landscape with scenic views created by its location along Battle Mountain. The property is mostly covered with post oaks and includes a previously cultivated field near the center. Water features include four stock tanks, with the largest estimated at close to 2 acres, and the ranch also has working pens. Electricity is available on-site, and the tract includes easements to support access and neighboring use.

    Access is provided from a quarter-mile easement off Middlebrooks Lane, and there are also two additional access easements running across the north part of the property used by two neighbors to the west. Oil and gas activity is present, including two pump jacks located next to each other on the west side of the tract, and the oil and gas lease is accessed from the west side of the property.

    Well-suited for buyers seeking a private hunting and recreation property with ranch improvements already in place, this tract also carries an agricultural exemption. With stock tank water, established cover, and the combination of native timber and open field area, it provides practical versatility for wildlife-focused operators and land investors. Shown by appointment only.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Jacksboro
    County
    Jack
    State
    Texas
    Longitude
    -98.1467
    Latitude
    33.301

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    FAQs

    What type of property is this?
    Ranch - Rugged acreage with post oak cover, four stock tanks, working pens, and strong hunting and fishing potential.
    Where is this ranch located?
    The property is located at 240 Acres Middlebrooks Lane Jacksboro, TX.
    What is the asking price?
    The asking price for this property is $1,860,000.
    What are key features of this property?
    This property features: 240‑acre tract on Battle Mountain just north of Jacksboro, TX with scenic views to the north, west, and south; 4 stock tanks, including one near 2 acres; mostly covered with post oaks; Previously cultivated field at the center of the property
    (940) 507-0102
    We can help!
    Listing Contact
    Miles Maddox
    Real Estate License ID: 0606637
    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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