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    Fenced Ranch Land with Pond Title is generated by Realmo AI

    Palmer Lane, Oak Grove, TX 75142

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    Claim this Listing
    For Sale
    $550,000

    LAND - Oak Grove, TX

    Lot size:
    24.30 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    73
    Last Refresh:
    Jun 5 at 11:06 am

    Property Features for Palmer Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    33241
    Lot size
    24.30 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Michelle Mikhail
    Michelle Mikhail

    Listing agent Michelle Mikhail License #0681749

    Listing office Fathom Realty LLC Colleyville, TX

    Listing date Mar 25, 2026

    MLS# 21150923 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

    • 24‑acre property with pasture for livestock, including cattle and donkeys
    • Large pond on site, plus cypress and mesquite trees
    • Fully fenced with electric fencing in some areas and pipe fencing on the outer perimeter
    • Utilities include public water and electricity (electric panels and a water meter included)
    • Includes equipment and livestock‑related items: tractor with accessories, cattle trailer, gooseneck flatbed trailer, feeding troughs, and hay rings
    • Showings require approval and must be accompanied by the buyers agent or listing agent due to cows on the property

    Overview

    This expansive ranch property offers a versatile outdoor setting on approximately 24 acres of lush pasture. The land is equipped for livestock use, including a large pond for fishing and watering, and it features both cypress and mesquite trees throughout the grounds. Improvements and included items noted in the listing include fully fenced perimeter with electric fencing in some areas, pipe fencing on the outer perimeter, and several livestock-related implements. Utility and infrastructure are also on-site, including an electricity connection, a water meter, and panels.

    The offering is described as providing seclusion while still being close to everyday conveniences, with shopping, restaurants, and schools about five minutes away. The seller also notes the property includes cattle and donkeys, which should be considered when planning any visits.

    For buyers seeking a property to run a working ranch, keep horses or other livestock, or use as a private retreat for outdoor recreation, this configuration supports multiple uses. The combination of fenced pasture, water access via the pond, and on-site utilities makes it practical for someone looking to settle in and start using the land soon. Due to livestock on the property, only approved showings are allowed and must be accompanied by the buyer’s agent or the listing agent.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Oak Grove
    County
    Wood
    State
    Texas
    Longitude
    -96.319155
    Latitude
    32.541216

    FAQs

    What type of property is this?
    Ranch - Fully fenced pasture acreage with a large pond and established trees, ideal for livestock and outdoor recreation.
    Where is this ranch located?
    The property is located at Palmer Lane Oak Grove, TX.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 24‑acre property with pasture for livestock, including cattle and donkeys; Large pond on site, plus cypress and mesquite trees; Fully fenced with electric fencing in some areas and pipe fencing on the outer perimeter
    (888) 455-6040
    We can help!
    Listing Contact
    Michelle Mikhail
    Michelle Mikhail
    Real Estate License ID: 0681749
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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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