123 Smith Lane CMNS, San Marcos, TX 78666

12.184 acres located in the high-growth area of downtown San Marcos. Currently zoned for multi-family with an Ag Exemption. Flat building space with easy access off North-Bound IH 35 access road. Can be purchased or Leased. The property is often described as a "Developer's Deal" with significant potential for Value Added project.

Location: Smith Lane, San Marcos, TX 78666 (Hays County) Size: 12.184 Acres (approx. 530,735 sq ft) Listing Price: $3,000,000 or can be leased with Option to Buy Zoning: SF-6 (Single-Family) Neighborhood: Blanco Gardens - Currently has Ag Exemption

Property Features & Potential

Development Potential: Suitable for dense residential, townhomes, or build-for-rent communities, with rezoning potential for higher density. Location Highlights: Situated one block off I-35 with easy access.

Utilities: Public water and sewer are available.

Site Condition: Cleared and level, described as an "open lot" or pasture.

Constraints: The entire property is located within the 100-year floodplain, but is being considered for the Blanco Gardens Drainage Improvement Project.

Access: Two access points, including Smith Lane and an alley on the east side.

This 12.184-acre development parcel on Smith Lane in San Marcos represents a rare opportunity to execute a transformational project in one of Central Texas' highest-growth corridors. The property sits positioned for significant value creation, cleared and level across 530,735 square feet with two direct access points and immediate proximity to northbound Interstate 35, positioning developers to capture the exponential residential demand reshaping this Hays County market.

The site's infrastructure readiness distinguishes it from speculative land deals. Public water and sewer service are already available, eliminating the costly delays that derail most development timelines. Current zoning carries an agricultural exemption under the SF-6 designation, while the property's location one block off the I-35 access road provides the visibility and accessibility that anchors successful multifamily, townhome, and build-for-rent communities. The Blanco Gardens neighborhood surrounding Smith Lane has emerged as San Marcos' primary residential expansion zone, with major employers in proximity and San Marcos Consolidated Independent School District serving the area.

The floodplain designation, while a constraint requiring navigation, is not disqualifying. The property is under consideration for inclusion in the Blanco Gardens Drainage Improvement Project, a municipal initiative that could materially reduce flood risk and unlock higher development density upon completion. Sophisticated developers familiar with floodplain mitigation see this not as liability but as opportunity. Once drainage infrastructure is in place, this acreage transitions from agricultural holding into premium-priced residential development land.

The asking price of $3 million or lease-to-own structure reflects the reality of pre-development assets: value is unlocked through execution, not appreciation. A developer purchasing this parcel at today's terms gains control of land in the path of growth, with master-planned community potential across the entire 12-acre footprint. The scale alone eliminates competition from smaller investors and positions this as institutional-grade opportunity.

San Marcos' population trajectory and the I-35 corridor's continued densification make this window narrow. Properties with this combination of size, access, utility readiness, and zoning flexibility rarely persist on the market. The Smith Lane parcel represents the raw material for legacy development.