Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Side Hobbs, NM 88240

    For Sale
    $2,409,302

    12.87 Acres, Prime Commercial Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 12.87-acre commercial land parcel presents a remarkable investment opportunity in Hobbs, New Mexico. Located on Millen, this property boasts significant frontage along a curved section of the road, offering excellent visibility and accessibility. The zoning allows for a variety of commercial uses, making it ideal for developers seeking to build multi-family residential units or establish a restaurant. The expansive lot size provides ample space for large-scale projects, ensuring significant potential for return on investment. Situated in Lea County, with a zip code of 88240, this property benefits from its strategic location within the thriving Hobbs community. The coordinates are 32.7548334 latitude and -103.1781891 longitude. This is a rare opportunity to acquire a substantial tract of land in a desirable area, poised for significant growth and development. The asking price for this exceptional property is $2,409,302. Serious inquiries are encouraged to explore the possibilities this prime commercial land offers. The property is designated as "TBD Tract Two Millen (South Side)" and is ready for development. This is a blank canvas for your next commercial venture. Don't miss this chance to secure a piece of Hobbs's vibrant commercial landscape.

    Property Features for 0 Side

    General Information

    Property type
    Land
    Lot Size
    560,617 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.1781891
    Latitude
    32.7548334

    Nearby Similar for Sale

    • $435,000
      5,000 SF

      Multi-Office Building in Downtown Hobbs

      Large office building in Hobbs, NM, suitable for various businesses.
      311 W Broadway St, Hobbs, NM 88240
      View Details
    • $430,000
      3,503 SF

      Hobbs Office Suite For Sale

      Professional office suite on a busy city street in Hobbs.
      205 W Broadway St, Hobbs, NM 88240
      View Details
    • $475,000
      3,129 SF

      Mixed-Use Property in High-Traffic Area

      Versatile property suitable for retail, office, or medical use.
      810 E Walker Dr, Hobbs, NM 88240
      View Details
    • $475,000
      5.00 Acres

      Event Venue on 5 Acres

      Barn venue for weddings, parties, and events on 5 acres.
      12915 N Denver City Hwy, Hobbs, NM 88242
      View Details
    • $575,000
      2,560 SF

      Hobbs Office Building For Sale

      High-quality, move-in ready office building suitable for owner/user or investor.
      502 W Alto Dr, Hobbs, NM 88240
      View Details
    • Contact for pricing
      2,560 SF

      Hobbs Office Building For Sale

      High-quality, move-in ready office building with ample parking.
      502 W Alto Dr, Hobbs, NM 88240
      View Details

    FAQs

    What type of property is this?
    Land - 12.87 Acres, Prime Commercial Location
    Where is this land located?
    The property is located at Side Hobbs, NM.
    What is the asking price?
    The asking price for this property is $2,409,302.
    (575) 392-1000
    Request Owner's contact information
    Side Hobbs, NM 88240
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Side
    Hobbs, NM 88240
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Side Hobbs, NM 88240
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.