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    Alto Dr Hobbs, NM 88240

    For Sale
    $400,000

    1.27 Acres, Prime Commercial Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 1.27-acre commercial land parcel presents a unique investment opportunity in Hobbs, New Mexico. Strategically located near the Post Office, Magistrate Court, and the New Mexico State Building, this property enjoys high visibility and convenient access to essential services and infrastructure. The site's prime location within Lea County makes it highly attractive for a variety of commercial developments. Its flat topography simplifies construction and site preparation, minimizing potential development challenges. The asking price for this exceptional property is $400,000. Given its size, location, and proximity to key government buildings and public services, this land offers significant potential for substantial return on investment. The address is listed as TBD N Alto Drive, Hobbs, NM 88240, with GPS coordinates of 32.7225512 latitude and -103.1293944 longitude. This is a rare chance to acquire a sizable, well-situated commercial lot in a thriving New Mexico community. Serious inquiries are encouraged to explore the possibilities this property offers. Don't miss this chance to secure a prime piece of commercial real estate in a rapidly growing area. The property is zoned for commercial use.

    Property Features for 0 Alto Dr

    General Information

    Property type
    Land
    Lot Size
    55,321 SF

    HighLights

    • 1.27‑acre commercial lot in Hobbs, NM, priced at $400,000.
    • High‑visibility location near the Post Office, Magistrate Court, and New Mexico State Building.
    • Flat topography simplifies development.
    • Zoned for commercial use.
    • Located in Lea County, offering convenient access to essential services and infrastructure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.1293944
    Latitude
    32.7225512

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    FAQs

    What type of property is this?
    Land - 1.27 Acres, Prime Commercial Location
    Where is this land located?
    The property is located at Alto Dr Hobbs, NM.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 1.27-acre commercial lot in Hobbs, NM, priced at $400,000.; High-visibility location near the Post Office, Magistrate Court, and New Mexico State Building.; Flat topography simplifies development.
    Request Owner's contact information
    Alto Dr Hobbs, NM 88240
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    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
    Alto Dr Hobbs, NM 88240
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