Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Improved Ranch Land in Texas Title is generated by Realmo AI

    296 Lcr 806, Groesbeck, TX 76642

    View on Map
    Claim this Listing
    For Sale
    $1,100,000

    76-acre ranch land with improvements for cattle, recreation, hunting.

    Type:Lots & Acreage / Improved Land
    Property size:
    3,321,972 SF
    Lot size:
    76.22 Acres
    Price / SF:
    $0.33/SF
    Added:
    May 15, 2026
    Days on Market:
    20
    Last Refresh:
    May 15 at 9:02 pm

    Property Features for 296 Lcr 806

    General Information

    Standard status
    Active
    Size
    3,321,972 SF
    Lot size
    76.22 Acres
    Property subtype
    Lots & Acreage / Improved Land

    We can help!

    Listing Contact
    Stacy Peery

    Listing agent Stacy Peery License #0779452

    Listing office Greater Waco Realty, LLC

    Listing date May 15, 2026

    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 Greater Waco Realty, LLC

    HighLights

    • Approximately 76 acres of improved Texas ranch land, suitable for cattle, recreation, hunting, or a private estate.
    • Three scenic ponds and a balanced mix of open pasture and native cover.
    • 30’ x 40’ fully enclosed and insulated shop with concrete floors and a 16’ covered overhang.
    • Water well and electricity are already on site.
    • 20’ x 40’ tractor/equipment barn and cattle corral.
    • Multiple potential homesites available.

    Overview

    This property features approximately 76 acres of improved Texas ranch land situated in Limestone County. The offering comprises two adjoining tracts with a balanced mix of open pasture and native cover, complemented by three ponds. It is suitable for cattle operations, recreation, hunting, or use as a private country estate. Infrastructure includes a water well housed in a 12’ x 12’ well house and on-site electricity. Ranch improvements consist of a 30’ x 40’ fully enclosed and insulated shop with concrete floors and a 16’ covered overhang, suitable for equipment storage and workshop use. There is also a 20’ x 40’ tractor and equipment barn providing additional covered storage. A cattle corral is present, making the property functional for livestock handling. The property offers productive pastureland, water features, and established improvements. Multiple potential homesites are available, making it suitable for a custom ranch residence or weekend retreat.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Groesbeck
    County
    Limestone
    State
    Texas
    Longitude
    -96.366272
    Latitude
    31.497572

    Nearby Similar for Sale

    • $720,000
      2,949 SF

      Groesbeck Ranch with Income Potential

      20+ acre ranch featuring a home, shop, and apartment.
      2232 Highway 164 E, Groesbeck, TX 76642
      View Details
    • $1,100,000

      Fenced Ranch Land with Ponds

      Large fenced ranch acreage with pasture, trees, ponds, and a creek—well positioned for cattle, recreation, or a future homestead.
      LCR 623, Groesbeck, TX 76642
      View Details
    • $1,887,000

      River-Bottom Pecan Ranch

      Turnkey Central Texas ranch with productive soils, rotational grazing, and a river setting framed by mature pecan trees.
      LCR 412, Groesbeck, TX 76642
      View Details
    • $150,000

      Turnkey Self-Service Car Wash

      Fully renovated facility with new equipment, positioned for strong visibility on a primary entry route into Groesbeck.
      617 N Ellis, Groesbeck, TX 76642
      View Details
    • $149,999

      15 Acres Ranchette in Groesbeck, TX

      15 acres ranchette near Groesbeck, Mexia, and Lake Limestone.
      FM 39, Groesbeck, TX 76642
      View Details
    • $1,089,900

      Productive Ranch Near Groesbeck, TX

      Well-maintained 150-acre ranch ideal for livestock, recreation, or homesite.
      303 LCR 626, Groesbeck, TX 76642
      View Details
    • $1,700,000

      Groesbeck Ranch with Hunting Potential

      233+ acre ranch ideal for cattle, hay, or recreation.
      3932 Fm 1245, Groesbeck, TX 76642
      View Details
    • $150,000

      Renovated Car Wash on Highway 14

      Turnkey, fully renovated self-service car wash in high-traffic location.
      617 N Ellis, Groesbeck, TX 76642
      View Details
    • $289,000

      Rural Property Near Waco

      Land with utilities, ponds, and agricultural exemption near Waco.
      4429 Fm 147, Groesbeck, TX 76642
      View Details
    • $230,000

      Retail Space with Drive-Thru

      Retail space with drive-thru on Highway 14 in Groesbeck.
      209 N Ellis St, Groesbeck, TX, 76642-1310
      View Details
    • $170,000

      Secluded RV Park on 2 Acres

      8-space RV park on 2 acres near Waco.
      4202 S Fm 339, Groesbeck, TX 76642
      View Details
    • $240,000

      Freestanding Commercial Building in Groesbeck

      Freestanding building suitable for retail, office, or restaurant tenants.
      102 N Ellis St, Groesbeck, TX 76642
      View Details

    FAQs

    What type of property is this?
    Ranch - 76-acre ranch land with improvements for cattle, recreation, hunting.
    Where is this ranch located?
    The property is located at 296 Lcr 806 Groesbeck, TX.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Approximately 76 acres of improved Texas ranch land, suitable for cattle, recreation, hunting, or a private estate.; Three scenic ponds and a balanced mix of open pasture and native cover.; **30’ x 40’ fully enclosed and insulated shop with concrete floors and a 16’ covered overhang.**
    (979) 777-9397
    We can help!
    Listing Contact
    Stacy Peery
    Real Estate License ID: 0779452
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    296 Lcr 806, Groesbeck, TX 76642
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!