These two contiguous parcels are zoned Character District 5 Downtown (CD-5D), one of San Marcos’ most flexible urban mixed-use designations. CD-5D supports higher-density residential, live-work, and mixed-use development, providing investors an opportunity to create a scalable, fee-simple urban project in the highly visible and rapidly appreciating South Square District. Combined site area: ~0.65 acres (~28,300 sq ft) Prominent visibility on Cheatham & McKie with over 150 feet of road frontage and curb access City water, wastewater and electric available; flat topography reduces site prep Recent survey included in due diligence; Seller financing available Development Potential The CD-5D zoning and contiguous site footprint provide flexibility to pursue a variety of fee-simple or rental development strategies including: Townhomes (fee-simple for resale)- multi-story, owner-occupied urban homes that can be sold individually; attractive for developers pursuing a resale strategy with strong buyer demand in walkable neighborhoods. Live-work- ground-floor commercial or flexible studios with residential above. Multifamily - adaptable rental units targeting long-term income. Mixed Use / Shopfront- adaptable uses that leverage pedestrian traffic and proximity to restaurants, nightlife, and the river. Because the parcels are contiguous, investors can use a unified site plan that consolidates parking, utilities, access, and circulation across both lots- increasing design flexibility, phased development, and shared infrastructure. Location & Market Context ~½ mile from the San Marcos Square, ~1 mile from Texas State University, and close to the San Marcos River Situated in South Square, a dynamic redevelopment area featuring new restaurants, nightlife, and creative commercial concepts Quick access to I-35 and Highway 123, placing Austin and San Antonio within 45 minutes Investment Summary 209 & 215 Cheatham Street deliver a rare combination of location, zoning flexibility, and immediate development readiness. The property offers multiple revenue models- from resale of fee-simple units to rental income from multifamily or live-work units- and is positioned in a high-demand urban corridor poised for continued appreciation.