Possum Kingdom Ranch Listed at $10M

A picturesque ranch with 3 miles of lakefront is up for grabs about 140 miles west of Dallas.

A 546-acre ranch on Possum Kingdom Lake, in hilly and rural Palo Pinto County, has hit the market at $10 million, the Dallas Business Journal reported. That’s a little over $18,000 per acre.

David Burgher and Harlan Ray of Briggs Freeman Sotheby’s International Realty are the listing agents.

The property, dubbed Possum Kingdom Ranch, was previously part of the historic Willingham Ranch. It offers scenic views of the lake and surrounding countryside, with native grasses covering most of the site.

Development on the ranch started in 2006, but a prolonged drought and fires in 2011 stalled the project. The owners originally planned to have high-elevation lots with 360-degree lake views, a marina, walking trails, spas and restaurants, the outlet said. The site comprises 47 parcels and a municipal utility district. Only some pre-development work is finished.

This year, a few other ranches not far from Dallas have hit the market with even higher asking prices. A 2,500-acre ranch in Erath County went up for sale in March, asking $16 million. One month prior, a 13-acre luxury ranch in the Dallas-Fort Worth suburb of Flower Mound hit the market at $22 million.

—Quinn Donoghue