The 961.3-acre ranch at the northwest corner of State Highway 114 and U.S. Highway 287 just outside Rhome is officially up for grabs with an asking price in the $40-million range, and it is no longer being talked about as quiet pastureland. With major subdivision plans and a grocery site already circling the area, a big slice of Wise County is suddenly in play as development keeps pushing northwest from Fort Worth.
As reported by Dallas Business Journal, the seller is marketing the 961.3-acre tract with an asking price in the low-to-mid $40-million range. Land.com puts a fine point on the number, listing the parcel at $43,257,825 and giving the property address as 00 Hwy 114, Rhome, TX. The listing was posted this week in multiple marketplaces.
Where the land sits and what is planned
The tract sits at a high-visibility highway junction and, according to the broker’s marketing packet, is across from a proposed 27-acre H-E-B site and next to several master-planned subdivisions. LoopNet and its attachments name nearby projects including Rolling V Ranch and Sendera Ranch and point to a future Northwest ISD high school site. Those pieces of the puzzle are a central part of why brokers are pitching the property as straight-up development land rather than a long-term hold.
Price, acreage and what buyers will pay
At the listed price, the spread works out to roughly $45,000 per acre, a headline number developers will plug into their pro forma models for large-scale subdivision plans. Listings on LandWatch and Land.com show the same price and acreage, giving prospective buyers multiple places to sift through the details. The marketing materials play up highway visibility and buildable pads, features that tend to catch the eye of both homebuilders and retail developers.
What to watch next
Because the ranch is being marketed for development, the real action starts when a buyer steps up. The next signs of momentum will be a sale contract, rezoning efforts or plats that move the land into official subdivision territory. The listing materials and broker attachments outline infrastructure needs and nearby commercial pads that could be built once a deal is inked, according to LoopNet. Local approvals tied to the proposed H-E-B and the surrounding master-plan build-outs will ultimately dictate how quickly the property shifts from ranch to rooftops.
