Rare 28.1-acre property with commercial and residential potential and approximately 800 feet of frontage on State Park Road, with multiple residences, a naturally fed pond, elevated ridge views with a balance of open acreage, mature tree canopy, and dense wooded privacy. The property includes 3 living structures including a well maintained ~2,007 sqft main home, plus a separate casita 1 bed/1 bath @448sqft, plus an additional 600 sqft 1 bed/1 bath apartment, plus a detached garage, workshop, covered storage, decks and porches. Approximately 3,055 square feet of finished residential space, plus approximately 600 square feet that could be completed. The property is entirely outside the City of Lockhart and outside the ETJ, with no municipal zoning, no known deed restrictions and no recorded easements. Potential uses may include a private estate, family compound, retreat center, boutique lodging, event venue, RV or recreational use, nonprofit or educational campus, small rural subdivision or other destination oriented development, subject to County, TxDOT, septic, drainage and other applicable approvals. Approximately 21.9 acres are outside the mapped floodplain, including approximately 3.2 acres near the State Park Road frontage. Additional portions of the front five acres may also be developable with appropriate engineering and floodplain compliance. The property has 1 Maxwell SUD water meter, 3 Bluebonnet Electric meters, power available from the front to the back of the tract, multiple septic systems and reliable VTX internet service. Conveniently located near Lockhart State Park, SH 130, the San Marcos River, downtown Lockhart and growing residential and commercial development. Agricultural valuation currently in place. Buyer to independently verify acreage, floodplain, development requirements, utilities, Opportunity Zone eligibility and intended use. All information is deemed reliable. Buyer to verify all information.