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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    603 Oak Ridge Dr Bandera, TX 78003

    • Commercial real estate
    • 5.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3800178
    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 603 Oak Ridge Dr

    Lot size
    5.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 5-acre property in Montague Ranch Estates, Bandera County, Texas, offers a tranquil country lifestyle with modern conveniences. The 1,656 sq ft home, built in 1978 and recently updated, boasts 3 bedrooms and 2 bathrooms, plus a 2-car garage. Breathtaking hill country views surround the property, providing a picturesque setting. Outdoor enthusiasts will appreciate the expansive 5 acres, perfect for various activities. A 2,300 sq ft barn with 2 horse stalls caters to equestrian needs, complemented by a 372 sq ft workshop and an RV shed with a plug-in. Relax and enjoy the Texas weather in the above-ground pool and hot tub. The property's location within a small subdivision ensures both privacy and community. Conveniently situated minutes from the town of Bandera, this property seamlessly blends rural living with modern comfort. The asking price is $632,500. The property address is 603 Oak Ridge Drive, Bandera, TX 78003. All dimensions are estimates; buyers should verify before submitting an offer. Showings are by appointment only with 48-hour notice. Earnest money of 1% of the asking price is required with any offer.

    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
    Bandera
    County
    Bandera
    State
    Texas
    Longitude
    -99.1202158
    Latitude
    29.7773579

    Comparable in this City

    • $1,225,000
      10.87 Acres

      Bandera Ranch: 10 Acres, Custom Home

      Texas Ranch: Luxury Estate, Abundant Wildlife
      345 Laguna Rd, Bandera, TX 78003
      View Details
    • $799,000

      32 Acres with Cabin in Bandera

      32-acre property with a 1,400 sq ft cabin near Bandera.
      8417 State Highway 16 N, Bandera, TX 78003
      View Details
    • $995,000

      61+ Acre Hill Country Ranch

      Secluded Bandera County ranch with views and abundant wildlife.
      5169 State Highway 173, Bandera, TX 78003
      View Details
    • $180,000
      2.60 Acres

      Bandera Ranch Land - $180K

      2.6-Acre Riverfront Ranch Lot
      645 Martingale Trl, Bandera, TX 78003
      View Details
    • $595,000

      20-Acre Wildlife Exempt Property

      20-acre property with level land, mature oaks, and good pastures.
      261 Watering Hole, Bandera, TX 78003
      View Details
    • $1,595,000

      Bandera Ranch Opportunity

      Ranch property available in Bandera, Texas.
      1897 Kyle Ranch Rd, Bandera, TX 78003
      View Details

    Similar Nearby for Sale

    • $1,225,000
      10.87 Acres

      Bandera Ranch: 10 Acres, Custom Home

      Texas Ranch: Luxury Estate, Abundant Wildlife
      345 Laguna Rd, Bandera, TX 78003
      View Details
    • $799,000

      32 Acres with Cabin in Bandera

      32-acre property with a 1,400 sq ft cabin near Bandera.
      8417 State Highway 16 N, Bandera, TX 78003
      View Details
    • $995,000

      61+ Acre Hill Country Ranch

      Secluded Bandera County ranch with views and abundant wildlife.
      5169 State Highway 173, Bandera, TX 78003
      View Details
    • $180,000
      2.60 Acres

      Bandera Ranch Land - $180K

      2.6-Acre Riverfront Ranch Lot
      645 Martingale Trl, Bandera, TX 78003
      View Details
    • $595,000

      20-Acre Wildlife Exempt Property

      20-acre property with level land, mature oaks, and good pastures.
      261 Watering Hole, Bandera, TX 78003
      View Details
    • $1,595,000

      Bandera Ranch Opportunity

      Ranch property available in Bandera, Texas.
      1897 Kyle Ranch Rd, Bandera, TX 78003
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo
      1,960 SF

      Bandera Acreage with Hill Country Views

      A peaceful rental retreat near Medina Lake and Bandera.
      154 Oak Lawn Dr, Bandera, TX 78003
      View Details
    • $1,250 /Mo
      1,960 SF

      Bandera Lakeshore Rental Home

      Rental home near Medina Lake with Hill Country views.
      154 Oak Lawn Dr, Bandera, TX 78003
      View Details
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    603 Oak Ridge Dr
    Bandera, TX 78003
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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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