451 FM 306 is an entitled multifamily development site situated on approximately 11.25 acres in the heart of New Braunfels, Texas. Zoned MU-B-AH (High-Intensity Mixed-Use District), the site carries approved entitlements for 256 apartment units across a mix of one- and two-bedroom floor plans, offering a developer a clear, low-friction path to construction.
The property's most compelling attribute is its grandfathered impact fees, established in 2008 and representing nearly $3 million in savings relative to current New Braunfels fee schedules. Combined with over $458,000 in Phase I infrastructure already in place — including a common entry road, detention ponds, water and storm drain extensions, and electric — a buyer acquires a site with significant embedded value from day one.
Positioned directly on FM 306 with convenient access to Interstate 35, the site benefits from exceptional visibility and connectivity along one of Central Texas's highest-growth corridors. New Braunfels Utilities serves the property, with water and sewer already extended to the site. The surrounding trade area is anchored by a dense retail ecosystem including HEB Plus, Buc-ee's, Target, Best Buy, and TopGolf, all within close proximity.
The site falls within the highly regarded Comal ISD, served by Oak Creek Elementary, Canyon Middle, and Canyon High School — a meaningful amenity for prospective renters. A 2025 tax rate of 1.79% rounds out an already attractive cost basis.
With New Braunfels ranked among the fastest-growing cities in the United States and major catalysts — including the 1,900-acre Mayfair master-planned community, FM 306's expansion to four lanes, and a wave of new commercial openings — this site represents a well-positioned, execution-ready opportunity in one of Texas's most dynamic submarkets.
Zack Shepherd
Dosch Marshall Real Estate
