Big property sales are pretty standard in North Texas, with everything from skyscrapers to megamansions changing hands.
But here’s your chance to buy an entire town.
Dallas real estate broker J. Elmer Turner is hunting a buyer for the tiny town of Mustang that’s south of Dallas in Navarro County.
Located on Interstate 45 and 55 miles from Dallas, Mustang is only 76 acres.
“It’s about 5 miles south of Corsicana,” broker Mike Turner said. “You can buy the town and all of the real estate.
“You have endless opportunities.”
Incorporated in the 1970s, Turner said Mustang was created as “a wet spot,” or somewhere you could legally buy liquor when “dry” and “wet” communities were the norm.
“It was the only wet spot around until liquor sales changed,” he said. “It had an illustrious strip club called Wispers.”
A killing in the nightclub back in 2008 made headlines in the area.
The town of Mustang had a population of more than 50 people back when liquor sales fueled bumper-to-bumper business in the community.
But since liquor purchases have loosened up, Mustang has faded.
“There are only a handful of people living there now,” Turner said. “There’s a warehouse and a little store and some mobile homes.”
Turner said the buyer of the town has to think beyond what’s on the ground.
“The whole site could be repurposed,” he said. “It could be a truck stop, a mobile home park, almost anything.”
There’s even a volunteer fire department. And the town has its own sewage plant and buys water from its neighbor, Angus.
Turner — whose Dallas-based real estate firm is one of the city’s oldest — said he’s selling Mustang for a client who is the general partner in the ownership.
“I’ve never sold a town before,” Turner said.
Mustang has a volunteer fire department.
<hreaf=”https://www.dallasnews.com/business/real-estate/2017/09/06/chance-buy-whole-town-south-dallas”</Source Article>Tags: Texas Town