Incredibly located, 23-acre Ranchette, **UNRESTRICTED** with development and commercial potential, in one of the Hill Country's most dynamic growth corridors, this is a rare opportunity to acquire a property with both immediate enjoyment and significant future upside. The current plan includes 3 commercial lots with strong FM 311 frontage (approx. 1 acre each) and 15 one-acre residential lots behind a proposed gated entrance. Property features mature oak trees throughout and borders Smithson Valley Middle School. Complete engineering plans available, including grading, utilities, and erosion control. New owner could utilize as a multiple family homestead, move forward with the current plan, or explore alternative development opportunities. Currently operating as a successful Airbnb with excellent reviews, the 2859 sqft main home blends Hill Country charm with modern updates, rock accents, hand-scraped engineered hardwoods, oversized living area, and spacious kitchen with large island, built-in appliances, farm sink, and walk-in pantry. Primary suite includes custom shower, soaking tub, and large walk-in closet. Two oversized bedrooms upstairs share a full bath. The backyard features an in-ground pool/spa by Keith Zars Pools, and covered patio with fireplace and outdoor kitchen. The shop / barn includes two covered horse stalls, turnouts, and 946 sqft apartment upstairs.