Prime 5.4-acre residential and commercial opportunity located in Hood County within the highly desirable Tolar ISD! Situated at 126111 Chalk Mountain Highway, this versatile tract offers the perfect balance of rural freedom and accessibility. Lying outside of city limits with no zoning, the property is ready for your vision, whether that is a custom dream home, a trendy tiny home community, a boutique RV park, or a commercial business. Minimal deed restrictions are in place to protect value (no mobile homes, no pig farms, no subdividing), yet they specifically allow for tiny homes, opening the door to unique investment strategies. The property requires a water well and septic; electricity is available across the street (would require agreement and utility easement from property owner) or can be extended down the public right-of-way. The location is exceptional, sitting centrally between Stephenville, Tolar, Granbury, and Glen Rose. You are minutes from the Cowboy Capital, the historic Granbury Square, and the recreational waters of Lake Granbury, giving you easy access to shopping, dining, and year-round events. This is a rare chance to own unrestricted acreage with highway frontage in a top-rated school district.