Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    72+ Acres in Lipan ISD Title is generated by Realmo AI

    35828 N US Highway 281, Lipan, TX 76462

    View on Map
    Claim this Listing
    For Sale
    $1,850,000

    Unimproved Land - Lipan, TX

    Type:Unimproved Land
    Lot size:
    72.39 Acres
    Added:
    May 10, 2026
    Days on Market:
    8
    Last Refresh:
    May 17 at 12:06 am

    Property Features for 35828 N US Highway 281

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    R000018524
    Lot size
    72.39 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Sherri Johnson

    Listing agent Sherri Johnson License #0674016

    Listing office Texas Legacy Real Estate Group, LLC 100 Sosebee Bend, Weatherford, TX

    Listing date May 10, 2026

    MLS# 21239197 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

    • 72.394 acres of Texas land with expansive views
    • Located in Lipan ISD
    • Strong producing water well (13 GPM)
    • Septic system already installed
    • Electricity is already connected to the property
    • Suitable for custom home, ranch, or investment project

    Overview

    Located in Erath County, this 72.394-acre property offers open space in the Lipan Independent School District. The land presents opportunities for building a custom home, ranch, investment project, or development. Essential infrastructure is already in place, including a producing well (13 GPM), septic system, and electricity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Car Rental Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Lipan
    County
    Hood
    State
    Texas
    Longitude
    -98.140273
    Latitude
    32.476994

    Nearby Similar for Sale

    • $229,900
      2,520 SF

      Lipan Shop with Apartment/Office

      Two-bay shop with apartment/office and RV/equipment shed.
      104 Yuma Street, Lipan, TX 76462
      View Details
    • $995,000
      1,707 SF

      Charming Horse Property with Modern Home

      Exceptional 10-acre horse property with modern home and amenities.
      11200 Light Road, Lipan, TX 76462
      View Details
    • $720,000
      1,584 SF

      Turn-Key Horse Property For Sale

      Six-acre horse property with barns, pens, and arena.
      299 Private Road 1526, Lipan, TX 76462
      View Details
    • $830,000
      2,460 SF

      Lipan Ranch with Custom Home

      12.8-acre ranch featuring a custom-built home and workshop.
      8757 S FM 1189, Lipan, TX 76462
      View Details
    • $550,000
      1,848 SF

      Lipan, TX Horse Property

      3.25 acre horse property near Weatherford, Brock, Granbury, Stephenville.
      9937 Rocky Branch Highway, Lipan, TX 76462
      View Details
    • $694,495

      Lipan, Texas 53-Acre Ranch

      53-acre ranch land with pond, trees, and open views.
      Tbd N US Highway 281, Lipan, TX 76462
      View Details
    • $1,249,000
      820 SF

      Equestrian Property with Roping Arena

      Equestrian property near Stephenville, TX, with extensive facilities.
      25495 S Fm 4, Lipan, TX 76462
      View Details
    • $4,250,000
      2,654 SF

      Equestrian and Cattle Property

      Income-producing equestrian and cattle property on 123 acres near Fort Worth.
      17939 N Fm 1189, Lipan, TX 76462
      View Details
    • $1,200,000
      2,078 SF

      Lipan Ranch with Equestrian Features

      28-acre ranch with equestrian facilities and guest home near Stephenville.
      31577 N US Highway 281, Lipan, TX 76462
      View Details
    • $2,875,000
      960 SF

      107-Acre Ranch with Barndominium

      Premier horse ranch or private family estate with modern barndominium.
      10875 Brock Highway, Lipan, TX 76462
      View Details
    • $3,995,000
      2,565 SF

      Multi-Housing Ranchette on 80 Acres

      Rare property with multiple homes, barns, cattle pens, and entertainment area.
      6085 County Road 146, Lipan, TX 76462
      View Details
    • $1,036,000

      64+ Acre Ranch with Water

      Ranch property with water meters, creek, and well.
      19514 S FM 4, Lipan, TX 76462
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 72+ acres of Texas land with existing infrastructure.
    Where is this agricultural land / farmland located?
    The property is located at 35828 N US Highway 281 Lipan, TX.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: 72.394 acres of Texas land with expansive views; Located in Lipan ISD; Strong producing water well (13 GPM)
    (817) 243-4366
    We can help!
    Listing Contact
    Sherri Johnson
    Real Estate License ID: 0674016
    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
    35828 N US Highway 281, Lipan, TX 76462
    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!