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    Recreation Land with Creek Frontage Title is generated by Realmo AI

    Overton Ct S, Granbury, TX 76048

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    Claim this Listing
    For Sale
    $895,000

    LAND - Other - Granbury, TX

    Lot size:
    32.95 Acres
    Added:
    May 19, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for Overton Ct S

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Brush, Cleared, Wooded
    Standard status
    Active
    APN
    R44427
    Lot size
    32.95 Acres

    Utilities

    Water source
    Well
    Water front features
    Creek
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Kennedy
    Michael Kennedy

    Listing agent Michael Kennedy License #0801447

    Listing office Gingrich Group, LLC Dallas, TX

    Listing date May 19, 2026

    MLS# 21211965 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

    • 32.95‑acre tract with frontage along Stroud Creek and a dense canopy of mature pecan and hardwood trees
    • Brand‑new well already in place and power is on‑site
    • Professionally cleared premium homesite on high ground, outside the flood zone
    • Mineral rights convey with the sale
    • Waterfront feature: creek (Stroud Creek)

    Overview

    Offered as a standout flagship tract at 32.95 acres, this recreation-focused land package has the groundwork already completed. A brand-new well is in place and power is on-site, reducing the timeline to build or develop. A premium homesite has been professionally cleared on high ground, positioned well outside the flood zone, and the property is further defined by a dense canopy of mature pecan and hardwood trees. With significant frontage along Stroud Creek, the land provides both privacy and a natural setting that supports long-term enjoyment.

    Located in Granbury, Texas (Hood County) at Overton Ct S, the tract offers a self-contained recreational feel while still being described as an option near town. The combination of creek frontage and established tree coverage creates a clear sense of separation from surrounding development, while the cleared high-ground homesite keeps immediate utility within reach.

    This property fits buyers who want space to build a private family legacy or purchase a meaningful holding for future use. The sale also includes mineral rights, conveying with the land and strengthening the asset’s long-term value for investors and land-bankers alike.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.8351941
    Latitude
    32.4626083

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    FAQs

    What type of property is this?
    Recreation land - Turn-key acreage with new well, onsite power, and a cleared homesite beyond flood zone for private recreation and building.
    Where is this recreation land located?
    The property is located at Overton Ct S Granbury, TX.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: 32.95‑acre tract with frontage along Stroud Creek and a dense canopy of mature pecan and hardwood trees; Brand‑new well already in place and power is on‑site; Professionally cleared premium homesite on high ground, outside the flood zone
    (972) 754-0361
    We can help!
    Listing Contact
    Michael Kennedy
    Michael Kennedy
    Real Estate License ID: 0801447
    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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