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    Prime Land Parcel in Ropesville Title is generated by Realmo AI

    FM 168, Ropesville, TX 79358

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    Claim this Listing
    For Sale
    $1,462,280

    LAND - Ropesville, TX

    Lot size:
    172.03 Acres
    Added:
    Apr 21, 2025
    Days on Market:
    396
    Last Refresh:
    May 21 at 4:06 pm

    Property Features for FM 168

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    13370
    Lot size
    172.03 Acres

    Taxes and HOA fees

    Tax Description
    DONLEY CSL, LGE 9, M/PT LAB 24, AB6, ACRES 172.033
    Tax Annual Amount
    556

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Needed
    Water source
    Well, Private

    We can help!

    Listing Contact
    Dennis White

    Listing agent Dennis White License #0617791

    Listing office Veritas Real Estate Company 6301 Indiana Ave, Ste 116, Lubbock, TX

    Listing date Apr 21, 2025

    MLS# 202553461 Listing URL

    Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent paved access via FM 41 and SH 168.
    • Close proximity to Ropesville (0.3 miles) and Hwy 62/82 (0.4 miles).
    • Short 15‑20 minute drive to Lubbock, TX.
    • Relatively flat land with minimal flood area.
    • Located in an area experiencing residential development growth.
    • Natural gas available; Well and Septic needed.

    Overview

    This 172.03-acre land parcel is located in the Ropesville area, offering paved access via FM 41 and SH 168. The property is relatively flat with minimal flood area. It is situated approximately 0.3 miles from Ropesville and 0.4 miles from 62/82, and a 15-20 minute drive to Lubbock, TX. The location is experiencing residential development as people seek country living with convenient access to Lubbock for employment, shopping, and dining. Projections estimate the Lubbock SMSA population to reach 379,592 by 2030 and 486,128 by 2050, potentially increasing demand for housing outside city limits. The construction of Loop 88, which will tie into 62/82, is expected to further improve the commute to Ropesville.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Ropesville
    County
    Hockley
    State
    Texas
    Longitude
    -102.174926
    Latitude
    33.411237

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    FAQs

    What type of property is this?
    Commercial land - 172-acre land parcel with paved access near Ropesville, TX.
    Where is this commercial land located?
    The property is located at FM 168 Ropesville, TX.
    What is the asking price?
    The asking price for this property is $1,462,280.
    What are key features of this property?
    This property features: Excellent paved access via FM 41 and SH 168.; Close proximity to Ropesville (0.3 miles) and Hwy 62/82 (0.4 miles).; Short 15‑20 minute drive to Lubbock, TX.
    (806) 317-6313
    We can help!
    Listing Contact
    Dennis White
    Real Estate License ID: 0617791
    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.

    More about this property
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