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    Road-Frontage Farmland Development Tracts Title is generated by Realmo AI

    CR 204 lot 5, Grandview, TX 76050

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    For Sale
    $194,997

    LAND - Grandview, TX

    Lot size:
    5.00 Acres
    Added:
    May 21, 2026
    Days on Market:
    14
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for CR 204 lot 5

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    126-0338-00030
    Lot size
    5.00 Acres

    We can help!

    Listing Contact
    Crystal Holmes

    Listing agent Crystal Holmes License #0473405

    Listing office Grandview Real Estate Grandview, TX

    Listing date May 21, 2026

    MLS# 21149488 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

    • 80 acres of farmland in Grandview School District with significant road frontage on CR 204 and CR 103.
    • Conveniently located close to I‑35.
    • Subdividable into various parcel sizes: (5) 5‑acre, (4) 10‑acre, or (1) 15‑acre, or larger parcels.
    • Suitable for development (buyer to verify electrical and water).
    • Currently cultivated for hay and has been farmed for over 100 years.
    • Barndominums are allowed, with a minimum of 2000 sq ft site built and 80% masonry on exterior.

    Overview

    This property consists of farmland currently cultivated for hay and has been farmed for more than 100 years. The seller can subdivide into smaller tracts, including (5) 5-acre parcels, (4) 10-acre parcels, or (1) 15-acre parcel, and larger parcel sizes are also possible by request. Water well and onsite septic will need to be installed, and buyers should verify electrical and water information needed for development. Restrictions include no manufactured homes, no pig farms, and no junkyards or junk vehicles, along with a minimum 2000 square foot site-built home and minimum 80% masonry on exterior; barndominiums are allowed. The property will not be split into tracts smaller than 5 acres, with a maximum of one home per 5-acre tract. Please note the seller will not pay rollback taxes.

    Road frontage is available on CR 204 and CR 103. The property is located in the Grandview School District and is described as being close to I-35. While there is no road frontage on FM 916, it is very close to that road. Markers for land size are approximate for a visual idea of acreage. The gas well site is not located on this property.

    The mix of agricultural history, road access, and the ability to subdivide makes this a practical option for buyers planning a development while maintaining a rural setting. Due to the need for a new water well and onsite septic, prospective buyers should budget for utilities and confirm site requirements before proceeding. The restrictions can also help define expectations for residential development plans on each 5-acre tract.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Grandview
    County
    Johnson
    State
    Texas
    Longitude
    -97.175472
    Latitude
    32.342054

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Clean, cultivated hay ground with strong road frontage and flexible subdivision options for future development, subject to utilities.
    Where is this agricultural land / farmland located?
    The property is located at CR 204 lot 5 Grandview, TX.
    What is the asking price?
    The asking price for this property is $194,997.
    What are key features of this property?
    This property features: 80 acres of farmland in Grandview School District with significant road frontage on CR 204 and CR 103.; Conveniently located close to I‑35.; Subdividable into various parcel sizes: (5) 5‑acre, (4) 10‑acre, or (1) 15‑acre, or larger parcels.
    (817) 866-3339
    We can help!
    Listing Contact
    Crystal Holmes
    Real Estate License ID: 0473405
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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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