Mickey Mantle's childhood home in Oklahoma to be sold for $7 a share
The home where one of baseball's most famed players learned to bat, in the town that earned him his nickname the "Commerce Comet," soon will be available for fractional ownership at just $7 per share.
The childhood home of Mickey Mantle in Commerce, Oklahoma, is already an oft-visited place by those wishing to capture a bit of history and nostalgia. The collectible company Rally said in a statement Thursday the home is a "rare investment opportunity," giving shareholders a piece of both sports memorabilia and real estate.
In turn, Rally hopes to transform the home in a way that benefits Mantle's hometown and the potentially thousands of shareholders.
Rally: Commerce, Oklahoma to benefit with shareholder investment
Rally said shareholders will be able to submit proposals on the property's future.
Those proposals will be submitted quarterly and voted on by all shareholders — voting on things like whether the home "becomes a museum, a national landmark, or a baseball diamond added to the backyard for local little leagues."
Profit earned from those proposals will be divided among investors quarterly.
"In recognition of Mantle’s legacy, Rally will distribute ownership shares to the residents of Commerce, giving everyone equity in the most famous home in town," the company said in the statement.
Home at 319 South Quincy Street in Commerce, Oklahoma
Even Rally conceded that the home at 319 S Quincy St. is not much to see at first.
But the company is deeming the white, two-bedroom home with a front porch and an old tin shed to the side "The Ultimate Mantle Collectible."
Mantle, considered by many as the best switch hitter in baseball history, learned to bat starting at just 4 years old in the shadow of that tin shed. His father would throw to him right-handed and his grandfather left-handed.
Today, the home is a time capsule as Mantle wanted it kept in its existing condition.
How to buy a share in Mickey Mantle's childhood home
Rally said its initial public offering will open at 11 a.m. CST Oct. 27, with 47,000 shares available at $7 per share for a total offering of $329,000.
Download the Rally app to see how it works.
This article originally appeared on Oklahoman: Mickey Mantle childhood home in Commerce, Okla. selling for $7 a share
