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    Agricultural Ranch Land with Creek Frontage Title is generated by Realmo AI

    County Road 366, Era, TX 76238

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    Claim this Listing
    For Sale
    $2,300,000

    LAND - Era, TX

    Lot size:
    115.27 Acres
    Added:
    Apr 23, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for County Road 366

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Crops
    Fencing
    Fenced
    Standard status
    Active
    APN
    23224
    Lot size
    115.27 Acres

    Taxes and HOA fees

    Tax Description
    CLARK J 0195 ACRES 115.53
    Tax Annual Amount
    190

    Utilities

    Water front features
    Creek

    We can help!

    Listing Contact
    Jared Groce
    Jared Groce

    Listing agent Jared Groce License #0584362

    Listing office Mossy Oak Properties- Cross Timbers Land & Home, LLC 200 N. Dixon St., Dallas, TX

    Listing date Apr 23, 2026

    MLS# 20997764 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

    • 115+-acre Cooke County ranch with road frontage on multiple roads and 4,000+ ft of county road frontage on CR 366 & CR 336
    • Little Duck Creek frontage along the east side plus 3 stock ponds for water on the property
    • Ag exempt and currently leased for cattle and farming operations; farming lease expires Aug 1, 2025
    • Mineral rights: 100% of mineral rights available
    • Electricity available on multiple sides, including three‑phase power on 3 sides of the property
    • Rolling elevation change with 70' of variation; terrain elevations range from 800' to 870' above sea level

    Overview

    This 115+ acre Cooke County ranch offers rolling terrain with approximately 70 feet of elevation change across the property and managed grass suitable for cattle and farming operations. The east side includes Little Duck Creek frontage, and there are three stock ponds that provide water for livestock. The ranch is currently ag exempt and leased for cattle and farming, with the farming lease scheduled to expire on August 1, 2025. Mineral rights are available, with 100% of the mineral rights included. Electricity, including three-phase power, is available on multiple sides of the property.

    The property features over 4,000 feet of county road frontage on CR 366 and CR 336, plus road frontage on multiple roads. Electric lines are located along three sides. The land sits at elevations ranging from 800' to 870' above sea level and includes Slidell-San Saba complex and Purves Clay Loam soils. A residential water well would be needed, as there are no water lines in the area, and local well depths are cited between 220' and 500' to reach the Trinity Aquifer.

    For buyers looking for agricultural land in a working ranch configuration, the existing cattle and farming setup, on-site surface water sources, and broad county road frontage support continued ranch operations. For developers or private owners, the available three-phase electricity on multiple sides can help support future plans, subject to applicable approvals and requirements.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Era
    County
    Cooke
    State
    Texas
    Longitude
    -97.3039
    Latitude
    33.498

    FAQs

    What type of property is this?
    Ranch - Cooke County ranch with multiple-road frontage, Little Duck Creek waterway, ponds, and leased cattle and farming use.
    Where is this ranch located?
    The property is located at County Road 366 Era, TX.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: 115+-acre Cooke County ranch with road frontage on multiple roads and 4,000+ ft of county road frontage on CR 366 & CR 336; Little Duck Creek frontage along the east side plus 3 stock ponds for water on the property; Ag exempt and currently leased for cattle and farming operations; farming lease expires Aug 1, 2025
    (972) 931-1400
    We can help!
    Listing Contact
    Jared Groce
    Jared Groce
    Real Estate License ID: 0584362
    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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