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    Income-Producing Equestrian Ranch Title is generated by Realmo AI

    9765 State Park Rd, Lockhart, TX 78644

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    For Sale
    $900,000

    Tenant-occupied brick home with fenced grounds, pond, and income while you plan for additional ranch or equestrian uses.

    Type:Commercial
    Lot size:
    30.00 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 6 at 4:13 am

    Property Features for 9765 State Park Rd

    General Information

    Standard status
    Active
    Lot size
    30.00 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Kaylee Sutton
    Kaylee Sutton

    Listing agent Kaylee Sutton License #0700093

    Listing office Land Unlimited

    Listing date Jun 1, 2026

    Source Elliman

    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 Land Unlimited

    HighLights

    • 3‑bedroom, 2‑bath brick home is currently tenant‑occupied, providing immediate income
    • +/- 30‑acre fully fenced property with a large pond and scattered oak trees
    • Some areas are partially cleared, offering flexibility for future ranch or equestrian uses
    • Additional structures on the property can support equipment storage, livestock, or expansion
    • No restrictions reported and all utilities are in place for day‑one use

    Overview

    This income-producing ranch includes a tenant-occupied 3-bedroom, 2-bath brick home and approximately 30 acres of improved grounds. The land is partially cleared and fully fenced, supporting a wide range of livestock, equestrian, and outdoor uses. A large pond and scattered oak trees add to the ranch setting, and additional structures are in place for equipment storage, livestock needs, or future expansion planning.

    The property is located just under 10 minutes from Lockhart and the San Marcos River, with Austin approximately 30 minutes away. While it is described as car-dependent, the overall setup is oriented toward a private retreat style of operation, with the existing home providing an immediate live-in or rental-ready foundation.

    For buyers seeking a working ranch, this combination of fenced land, pond, and outbuildings supports day-one use for horses, livestock, or a private homestead. The presence of utilities and “no restrictions” provides flexibility to adapt the site to your preferred approach, whether that’s continuing a ranch operation, building out equestrian facilities, or refining outdoor-oriented concepts alongside the current tenant-occupied residence.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Hotel & Motel Bed & Breakfast Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockhart
    County
    Caldwell
    State
    Texas
    Longitude
    -97.72898
    Latitude
    29.795893

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    FAQs

    What type of property is this?
    Ranch - Tenant-occupied brick home with fenced grounds, pond, and income while you plan for additional ranch or equestrian uses.
    Where is this ranch located?
    The property is located at 9765 State Park Rd Lockhart, TX.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: 3‑bedroom, 2‑bath brick home is currently tenant‑occupied, providing immediate income; +/- 30‑acre fully fenced property with a large pond and scattered oak trees; Some areas are partially cleared, offering flexibility for future ranch or equestrian uses
    (512) 470-4237
    We can help!
    Listing Contact
    Kaylee Sutton
    Kaylee Sutton
    Real Estate License ID: 0700093
    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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    9765 State Park Rd, Lockhart, TX 78644
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