San Marcos Mercury | Local News from San Marcos and Hays County, Texas

by BRAD ROLLINS

San Marcos school district trustees voted on Monday to knock $222,950 off the sale price of the Lamar Annex property after an updated land survey determined the property is smaller than advertised.

Occupying a tract at Old Ranch Road 12 and Hutchison Street within a half-mile of both the Old Hays County Courthouse square and Texas State University, the Lamar Annex sits on property where the Coronal Institute, a Methodist private school, was built in 1868. The property was sold to the public school district in 1925 which built a new high school there in 1951.

In July, a holding company controlled by Philadelphia real estate investor David Lerman bid $3,185,000 for the property based on existing land surveys that calculated the tract at 5.2 acres, about 226,512 square feet. A new survey commissioned by the prospective buyer later determined that the property is only about 4.8 acres, a difference of 17,000 square feet.

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2 thoughts on “San Marcos CISD trustees reduce sale price for Lamar Annex

  1. As a homeowner, I’d love to believe this sets the price of .4 acres of land in San Marcos at $223K, but something tells me this won’t translate to residential lots — even if they aren’t filled with tear-down properties like the annex is.

    I guess it’s all for the best. I wouldn’t want to have to pay taxes on a lot worth a quarter million bucks anyway.

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