Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1985 County Road 223 Florence, TX 76527

    • Commercial real estate
    • 3,000 SF
    • 38.81 lot acres
    For Sale
    View listing
    $2,999,099
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1519161
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1985 County Road 223

    Year built
    2022
    Lot size
    38.81 lot acres
    Property size
    3,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional 38.81-acre property in Florence, Texas, presents a unique investment opportunity. Located just three minutes from US 183 North, this easily accessible location boasts a 3,000 square foot main hall, perfect for hosting large-scale events such as weddings and corporate gatherings. Multiple covered porches provide ample space for guests to relax and enjoy the picturesque surroundings. A separate bathroom building ensures convenience and comfort. The property also includes functional equestrian facilities, featuring corrals, a stable, and an arena, catering to a diverse range of potential uses. Extensive outdoor amenities include substantial built-in BBQ pits and cabanas, ideal for concessions or catering services. The property's beauty is further enhanced by a spring-fed lake, approximately one acre in size and fully stocked with fish. Currently under construction, a dedicated bride's quarters will offer breathtaking views of this tranquil lake. The surrounding countryside provides stunning vistas, creating an idyllic setting for any event or business venture. This versatile property offers a blend of event space, equestrian facilities, and natural beauty, making it an exceptional investment with significant potential for growth and profitability. The property is listed at $2,999,099.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Williamson
    State
    Texas
    Longitude
    -97.86803
    Latitude
    30.82748

    Comparable in this City

    • $2,078,000
      28.67 Acres

      Highway 183 Commercial Land Opportunity

      High-visibility land, excellent location, Hwy 183 frontage.
      183 Tbd Hwy, Briggs, TX 76527
      View Details
    • $5,780,000
      89.00 Acres

      89 Acres Hwy 183, Florence, TX

      Prime Texas Land: Hwy 183 frontage, development potential.
      0 Us Highway 183, Florence, TX 76527
      View Details
    • $2,133,000
      10.05 Acres

      Florence Commercial Land & Building

      10-Acre Commercial Property, $2.1M
      1165 Patterson Ave, Florence, TX 76527
      View Details
    • Contact for pricing

      Andice, TX Commercial Land

      58 Acres, Prime Williamson County Location
      5800 Fm 970, Florence, TX 76527
      View Details
    • $12,900,000
      234.00 Acres

      Texas Ranch: 234 Acres

      Prime Texas Ranch Land, Investment Opportunity
      0 Ln Fe Rnch, Florence, TX 76527
      View Details
    • $3,894,000
      236.00 Acres

      Prime Florence Quarry Land

      Massive Rock Quarry, Hwy 195 Access
      1300 Indian Lake Rd, Florence, TX 76527
      View Details

    Similar Nearby for Sale

    • $5,780,000
      89.00 Acres

      89 Acres Hwy 183, Florence, TX

      Prime Texas Land: Hwy 183 frontage, development potential.
      0 Us Highway 183, Florence, TX 76527
      View Details
    • $2,078,000
      28.67 Acres

      Highway 183 Commercial Land Opportunity

      High-visibility land, excellent location, Hwy 183 frontage.
      183 Tbd Hwy, Briggs, TX 76527
      View Details
    • $2,133,000
      10.05 Acres

      Florence Commercial Land & Building

      10-Acre Commercial Property, $2.1M
      1165 Patterson Ave, Florence, TX 76527
      View Details
    • Contact for pricing

      Andice, TX Commercial Land

      58 Acres, Prime Williamson County Location
      5800 Fm 970, Florence, TX 76527
      View Details
    • $3,894,000
      236.00 Acres

      Prime Florence Quarry Land

      Massive Rock Quarry, Hwy 195 Access
      1300 Indian Lake Rd, Florence, TX 76527
      View Details
    • $12,900,000
      234.00 Acres

      Texas Ranch: 234 Acres

      Prime Texas Ranch Land, Investment Opportunity
      0 Ln Fe Rnch, Florence, TX 76527
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Florence Land for Lease

      Just under 10 acres of level land for lease.
      3305 Highway 138, Florence, TX 76527
      View Details
    • $2,450 /Mo

      Spacious Workshop with Yard

      Workshop with yard space for lease near Highway 183.
      12289 100, Florence, TX 76527
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1985 County Road 223
    Florence, TX 76527
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.