The property that formerly housed Kingsbury Middle School has been listed for sale by the Douglas County School District.

Appraisers valued the property at about $4 million. Superintendent Lisa Noonan said the district shouldn’t accept anything less than that.

The Stateline facility will be considered an open listing, meaning it won’t be exclusive to any single real estate broker.

A $40,000 cap was set on the commission for the real estate broker who sells the school, though brokers can negotiate for up to another 1.5 percent if the school sells for more than $4 million.

Stateline resident Greg Felton objected to the listing during the Tuesday Douglas County School Board meeting at Zephyr Cove Library.

“It’s a one way ticket,” Felton told the school board. “The district will never be able to afford a piece of property like that again.”

Though some of the board members agreed with Felton, they couldn’t foresee any other realistic use for the building.

“Unfortunately, I don’t see any other options,” said board member Thomas Moore.

Superintendent Lisa Noonan approached both Douglas County and the county’s fire department to consider uses for the building, but neither could afford the lease, she said. Leasing the building to a private organization seemed unlikely, said board member Teri Jamin.

The school board will review any offers made on the facility at its April meeting.