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Urban development land in Mustang area set for auction
The 155 acres at Mustang Road and Southwest 44th Street could someday become a neighborhood, a planned community or a mixed-use district. But for now, the land is being offered in a March 19 auction, with Schrader Real Estate and Auction Company managing the event.
"This land, while currently zoned AA agricultural, is classified as Urban Development land in the most recent plan for Oklahoma City, and it has a great deal of development potential," said Brent Wellings, who manages Schrader's Southwest operations.
The property is being offered in 15 tracts, 11 of which are approximately 5.1 acres each fronting on either Southwest 44th Street or Mustang Road.
"All of the land is contiguous in one rectangular block, with some new residential development nearby. It's also in the highly regarded Mustang school district. Putting all those factors together, the potential for both residential and commercial use is considerable. By selling the tracts separately, we're giving individuals or developers a chance to buy smaller parts of the land, but someone could purchase all of it as an entirety," said Wellings.
The land is nine miles southwest of the Oklahoma City Central Business District.
The auction will begin at 6:30 p.m. Thursday, March 19, at Wild Horse Park, 1201 North Mustang Road, Mustang. Schrader personnel will be available at the property to provide detailed information from 4 to 6 p.m. February 12 and 26, and on March 12.
Additional detailed auction information is available by visiting www.schraderauction.com or by calling 800-451-2709. Online bidding will be available for bidders who register by one week before the auction date.