Jump to content
Required Reading for any Longhorn ×

Mark Cuban Buys Mustang

RPM

By RPM
in Daily Texan

 Share

Recommended Posts

RPM

RPM 26355

Posted
Posted

Mustang, Texas that is.

DALLAS — Mark Cuban has purchased the entire town of Mustang located in Navarro County, the Dallas Morning News reported.

County deed records show that the 77-acre town was purchased by a company controlled by Cuban last month. Mustang is located about 55 miles south of Dallas and is only home to a strip club and a trailer park, the report said. The town’s census records report it has a population of 23.  


According to DMN, the area was founded in the early 1970s and was the local watering hole when the county prohibited alcohol sales. Mustang was on sale in 2017 for $4 million but was never purchased.  

“I had a fair amount of interest in it, but it was priced too high — even when we bought it down to $2 million,” Dallas real estate broker Mike Turner told DMN. “The old strip club is not in good repair, but it could be redone for something. There is a resident alligator in one of the ponds.” 

Cuban said he purchased the town because a friend needed to sell.  

“I don’t know what if anything I will do with it,” Cuban said in an email to DMN. 

Besides the town and the Dallas Mavericks, the billionaire counts a new drug company among his notable investments. The Mark Cuban Cost Plus Drug Company aims to reduce the price of pharmaceuticals and create low-cost versions of high-cost generic drugs. The company was founded in 2018 as Osh's Affordable Pharmaceuticals before changing its name to include Cuban’s after the billionaire invested in the company four months later.  

Mark Cuban Cost Plus Drug Company relocated to Dallas last year and is constructing a pharmaceutical factory scheduled to open in Deep Ellum next year.

__________________________________________________________________________________________________

I used to know the guy that owned it back in the 90's. We had an asphalt plant set up near there. He also owned the liquor store, beer joint/titter next door and the little 9 Hole golf course in Corsicana. You could always find him behind the counter in the liquor store and he'd flip quarters double or nothing on a bottle. Good times.

Link to comment
Share on other sites
South Austin

South Austin 52617

Posted
Posted (edited)
3 hours ago, Nice Guy Eddie said:

I’ve never understood how you can buy a town. Does a town start to buy land from individual owners? Or is Cuban buying the town from dozens of owners?

I had the same question. I think you can buy up all of the real estate within the municipal boundaries, such that you “own the town.” But, all jokes and references to Roadhouse aside, a private person can’t buy a public municipal entity.

Edited by South Austin
  • Haha 1
Link to comment
Share on other sites
DefinitelyNotHollywoodColt

DefinitelyNotHollywoodColt 12301

Posted
Posted
1 hour ago, RPM said:

Mustang, Texas that is.

DALLAS — Mark Cuban has purchased the entire town of Mustang located in Navarro County, the Dallas Morning News reported.

Mustang is located about 55 miles south of Dallas and is only home to a strip club and a trailer park, the report said.

spacer.png

y’all slippin

 

  • Hook 'Em 1
  • Haha 7
Link to comment
Share on other sites
Nice Guy Eddie

Nice Guy Eddie 13523

Posted
Posted
2 hours ago, South Austin said:

I had the same question. I think you can buy up all of the real estate within the municipal boundaries, such that you “own the town.” But, all jokes aside and references to Roadhouse aside, a private person can’t buy a public municipal entity.

If a town or county starts to die, can the county assume ownership of land that is effectively abandoned?  If no one wants to live in a small town, and my property is worth $100 (or even less), can I just tell the county to have it?  At some point, it wouldn't even be worth the paperwork to sell it.

Link to comment
Share on other sites
TwiceHorn

TwiceHorn 31538

Posted
Posted
2 hours ago, South Austin said:

I had the same question. I think you can buy up all of the real estate within the municipal boundaries, such that you “own the town.” But, all jokes aside and references to Roadhouse aside, a private person can’t buy a public municipal entity.

I'm fairly certain this is what has happened.

One guy owned all the land and apparently incorporated a town with boundaries coextensive with his ownership.

  • Hook 'Em 1
Link to comment
Share on other sites
TwiceHorn

TwiceHorn 31538

Posted
Posted
Just now, High Plains Drifter said:

 

Isn't that what "condemnation" is? You walk away, the unpaid taxes pile up, at some point the county seizes the land (and presumably tries to sell it).

 

 

I think you're on the right track, but that's not condemnation, that's simply tax foreclosure.

  • Hook 'Em 1
Link to comment
Share on other sites
South Austin

South Austin 52617

Posted
Posted
1 minute ago, TwiceHorn said:

I think you're on the right track, but that's not condemnation, that's simply tax foreclosure.

Yeah, condemnation arises when a governmental entity or utility takes land for a public purpose (roadways, power lines, etc.) or when a city "condemns" a structure as unsafe or uninhabitable requiring its demolition. 

  • Hook 'Em 2
Link to comment
Share on other sites
NeverMarryAStripper

NeverMarryAStripper 21922

Posted
Posted
1 hour ago, South Austin said:

Yeah, condemnation arises when a governmental entity or utility takes land for a public purpose (roadways, power lines, etc.) or when a city "condemns" a structure as unsafe or uninhabitable requiring its demolition. 

Or when one of the large campaign contributors wants the property for development

Link to comment
Share on other sites
TKthunder2

TKthunder2 4997

Posted
Posted

Other than the strip club area (which includes the club, some other building on the side with at least 6 window AC units, a fireworks stand, and the town’s old fire truck) there are about 10 trailers on the land out back and a creek with a small pond.  No schools, utilities, or government buildings of any kind at least according to Google Maps.

I assume this is similar to living in an ETJ so taxes to the local ISD (Corsicana), the county (Navarro), and any covering emergency services (EMS/Fire).

They just opened the new SH31 bypass just a little ways up the road so this is likely a pretty good long term investment even if he just sits on it for a decade, collects rent from the 20 residents, and then sells it.

Link to comment
Share on other sites
RPM

RPM 26355

Posted
  • Author
Posted
3 hours ago, TwiceHorn said:

I'm fairly certain this is what has happened.

One guy owned all the land and apparently incorporated a town with boundaries coextensive with his ownership.

That's the guy I was talking about in the OP.

Link to comment
Share on other sites
TKthunder2

TKthunder2 4997

Posted
Posted
44 minutes ago, immortal13 said:

I've been to Whispers years ago. I remember they had a weird tipping system where you had to buy their own currency called "beaver bucks"(I shit you not) to tip the girls with. 

Many small town strip clubs have this system, you can’t get a refund for the bucks and it allows ownership to keep a large percentage of the dancer’s tips and makes it where they can’t hide them.

Link to comment
Share on other sites
Dennis Taylor

Dennis Taylor 18874

Posted
Posted
9 hours ago, RPM said:

Mustang, Texas that is.

DALLAS — Mark Cuban has purchased the entire town of Mustang located in Navarro County, the Dallas Morning News reported.

County deed records show that the 77-acre town was purchased by a company controlled by Cuban last month. Mustang is located about 55 miles south of Dallas and is only home to a strip club and a trailer park, the report said. 

Oh sure, now  you tell me...

Link to comment
Share on other sites
Sandman

Sandman 3414

Posted
Posted
3 hours ago, immortal13 said:

I've been to Whispers years ago. I remember they had a weird tipping system where you had to buy their own currency called "beaver bucks"(I shit you not) to tip the girls with. 

I used to go to one that had an ATM filled with only the club money. You could tip or buy drinks with it but you weren't getting any real change back.

  • Hook 'Em 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


Football ... Basketball ... Baseball ... Other Sports ... Futbol ... 🤫995🤫 ... Gambling ... Movies & TV ... Music ... Hobbies ... Lulz ... Food & Travel ... Daily Texan ... Business and Markets ... Cloak Room ... Help ... For Sale ... Board Discussion ... Subscribe!... Donate!... Advertise... COOKIE MONSTER!

×
×
  • Create New...