Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Equestrian Ranch Land with Barns Title is generated by Realmo AI

    3388 County Road 428, Stephenville, TX 76401

    View on Map
    Claim this Listing
    For Sale
    $1,285,000

    LAND - Stephenville, TX

    Lot size:
    35.36 Acres
    Added:
    Dec 31, 2025
    Days on Market:
    154
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 3388 County Road 428

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R000026577
    Lot size
    35.36 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 194.060 A0808 WEST GADDI; DAIRY BARN O
    Tax Annual Amount
    1299

    Building Details

    Year built
    2000
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Brandon Smith
    Brandon Smith

    Listing agent Brandon Smith

    Listing office RE/MAX Elevated Realty Stephenville, TX

    Listing date Dec 31, 2025

    MLS# 21128144 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

    • 35‑acre Huckabay ISD retreat with elevation for a future home site on top of the hill and long views
    • Two covered 3,400 SF barns (6,800 SF total) that could be used for horse stalls or hay storage
    • Covered holding pens plus a commodity barn and hay sheds
    • 3‑phase electricity, water well, and majority of perimeter fencing in place
    • Includes covered barns/pen setup suitable for a horse motel, stable, or training center

    Overview

    This 35.36-acre restricted retreat is positioned for equestrian use or as a lead parcel for a new community. The property features two covered 3,400-square-foot barns, plus covered holding pens and a commodity barn. Existing improvements also include hay sheds, a water well, three-phase electricity, and the majority of the perimeter fence in place, giving buyers a solid starting point for a stable, training program, or hay storage. The property’s elevation offers the opportunity to build a home on higher ground with long-range views.

    Located within Huckabay ISD, the land is described as convenient to both I-20 and Stephenville, and it sits among surrounding acreage farms. The seller also notes the opportunity to be a first and largest landowner within the boundaries of an upcoming subdivision tied to a planned, horse-friendly development.

    For buyers seeking a groundwork-ready property for horse lodging, stable operations, or training, the combination of covered barn space, holding areas, utilities, and fencing supports practical day-to-day needs. For investors and developers, the restricted acreage and noted subdivision opportunity may offer a compelling platform for phased growth, with additional acreage said to be available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.309414
    Latitude
    32.303162

    Nearby Similar for Sale

    • $2,800,000
      30,800 SF

      Retail Shopping Center with Highway Frontage

      Income-producing vendor market with multiple outbuildings and strong visibility along US 377 for flexible expansion.
      1950 W South Loop, Stephenville, TX 76401
      View Details
    • $1,700,000

      Retail Building with Drive-Thru Window

      Well-suited for a drive-thru concept, this retail building offers a concrete parking lot and prominent highway frontage.
      3011 W Washington Street, Stephenville, TX 76401
      View Details
    • $780,000

      High-Visibility Retail Storefront

      A retail storefront on a heavily traveled street near downtown, offering strong visibility for a new or expanding brand.
      367 E Washington Street, Stephenville, TX 76401
      View Details
    • $995,000

      Industrial Facility with Retail & Yard

      Multi-use industrial property with retail, warehouse, and laydown yard on Business 377 near Allsups.
      1208 E Washington Street, Stephenville, TX 76401
      View Details
    • $550,000

      Corner Office and Retail Building

      Corner commercial space with multiple offices, kitchen, and nearby parking options for office users or boutique retail setups.
      240 W Green Street, Stephenville, TX 76401
      View Details
    • $789,900

      Versatile Land with Covered Arena

      15.71 acres with covered arena near Stephenville, Texas.
      1075 County Road 494, Stephenville, TX 76401
      View Details
    • $665,000

      Updated 4-Plex Investment Property

      Updated four-unit with modern finishes, in-unit laundry, and off-street parking near Tarleton State University.
      872 W Vanderbilt Street, Stephenville, TX 76401
      View Details
    • $665,000

      Well-Maintained Quadplex Near University

      A maintained 4-unit quadplex with dedicated parking and updated finishes, positioned close to Tarleton State University.
      852 W Vanderbilt, Stephenville, TX 76401
      View Details
    • $665,000

      Updated Quadplex Investment Opportunity

      Four 2BR/2BA units with some upgrades, just blocks from Tarleton State University, offering turnkey rental income.
      892 W Vanderbilt, Stephenville, TX 76401
      View Details
    • $950,000

      Turnkey Quadplex Investment Property

      Built in 2021, this low-maintenance quadplex setup includes a remodeled manufactured home and expansion-ready acreage.
      1450 Lincoln Drive, Stephenville, TX 76401
      View Details
    • $499,000
      2,416 SF

      Two-Home Multi-Family Bundle

      Two tenant-occupied three-bedroom residences offer rental income with potential for future multi-family development.
      1425-1435 Groesbeck Street, Stephenville, TX 76401
      View Details
    • $1,200,000

      Multi-Use Industrial Yard with Two Buildings

      Multi-purpose industrial property with two metal buildings, open yard, and essential utilities for flexible commercial operations.
      5346 S US Highway 377, Stephenville, TX 76401
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - Restricted acreage retreat with barns, holding pens, electricity, and fencing—well suited for horse operations or future development.
    Where is this horse & equestrian property located?
    The property is located at 3388 County Road 428 Stephenville, TX.
    What is the asking price?
    The asking price for this property is $1,285,000.
    What are key features of this property?
    This property features: 35‑acre Huckabay ISD retreat with elevation for a future home site on top of the hill and long views; Two covered 3,400 SF barns (6,800 SF total) that could be used for horse stalls or hay storage; Covered holding pens plus a commodity barn and hay sheds
    (254) 965-5051
    We can help!
    Listing Contact
    Brandon Smith
    Brandon Smith
    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
    3388 County Road 428, Stephenville, TX 76401
    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!