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    Acreage with Pond and Wooded Areas Title is generated by Realmo AI

    Farm Road 1502, Detroit, TX 75436

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    For Sale
    $560,000

    LAND - Detroit, TX

    Lot size:
    69.34 Acres
    Added:
    Sep 17, 2025
    Days on Market:
    261
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for Farm Road 1502

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded, Grassed
    Standard status
    Active
    APN
    40613
    Lot size
    69.34 Acres

    Taxes and HOA fees

    Tax Description
    A528 LCSL SURVEY, TRACT 21, ACRES 59.341 Tract 21A
    Tax Annual Amount
    87

    Building Details

    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Cori Sharp
    Cori Sharp

    Listing agent Cori Sharp License #0422874

    Listing office WILLIAM DAVIS REALTY Dallas, TX

    Listing date Sep 17, 2025

    MLS# 20980874 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

    • More than 69 acres of land, including 30 acres of wooded property
    • Property includes a pond
    • Wide frontage
    • Fiber optics located right outside the fence of the property
    • Land is suitable for building a home or ranch use, including hunting

    Overview

    This property offers approximately 69.34 acres of land, including about 30 acres of wooded area and a pond on-site. With wide frontage and clearly marked property boundaries, it’s well suited for buyers looking for space to hunt, enjoy outdoor recreation, or plan a private build. The property is offered as a versatile acreage opportunity, whether you’re thinking ranch-style living or holding for future development.

    Located in Detroit, Texas within Lamar County, the land is positioned for convenient access to the surrounding region. Public remarks note fiber optics right outside the fence of the property, which may be an important consideration for builders and developers. The listing also cites proximity to Beavers Bend, Oklahoma, approximately an hour and 15 minutes away, supporting the property’s appeal for buyers seeking a quieter retreat within reach of popular destinations.

    For builders, developers, or owner-users, this acreage is a practical option if you want a larger site with natural features and room for a custom ranch or dream home. The combination of woodland, water, and wide frontage supports a range of uses, from recreational hunting land to long-term residential or development planning.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Detroit
    County
    Red River
    State
    Texas
    Longitude
    -95.34336
    Latitude
    33.679256

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    FAQs

    What type of property is this?
    Hunting land - Approximately 69 acres with a pond and wooded acreage, offering a strong setting for recreation or a custom home site.
    Where is this hunting land located?
    The property is located at Farm Road 1502 Detroit, TX.
    What is the asking price?
    The asking price for this property is $560,000.
    What are key features of this property?
    This property features: More than 69 acres of land, including 30 acres of wooded property; Property includes a pond; Wide frontage
    (972) 732-6002
    We can help!
    Listing Contact
    Cori Sharp
    Cori Sharp
    Real Estate License ID: 0422874
    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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