Positioned at the intersection of current cash flow and future development potential, this exclusive 15.39-acre offering presents a rare investment opportunity in Caldwell County. Approximately 12,932 square feet of existing improvements support income-producing operations, including six duplexes and 24 storage units-helping offset holding costs while longer-term plans take shape. The property fronts State Highway 21 and extends along Tokyo Road, the entrance route to the Cotton Gateway master-planned community. Prominent positioning places the site near an expanding residential base and opens the conversation for neighborhood retail, multifamily development, or light industrial use, subject to applicable approvals. In other words, the land offers more than room to dream; it already has tenants helping with the tab. Infrastructure adds practical value. Maxwell Water serves the property through four existing taps, Pedernales Electric Cooperative power currently reaches the duplexes and storage units, and an on-site sewer system is in place. A request to remove the property from the San Marcos extraterritorial jurisdiction was completed in 2025; buyers should independently confirm status and development requirements. Connectivity strengthens the investment story. San Marcos Regional Airport is nearby, with Texas State University, San Marcos Premium Outlets, and the broader Interstate 35 corridor within convenient reach. Bring your site plan, your due diligence, and your vision-then schedule a private property tour to explore the possibilities firsthand.