Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    108 Willow St Hobbs, NM 88240

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    15,000 sq ft commercial lot, $1.5M

    Property Features for 108 Willow St

    General Information

    Property type
    Land

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Sandra Ortega

    Listing Agency: United Realty, LLC - Hobbs Listing Agent: Sandra Ortega

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 15,000 square foot commercial property located at 108 S Willow in Hobbs, New Mexico, is offered for sale at $1,500,000. The land, built in 1980, presents a unique investment opportunity. Currently housing a thriving radio station, the sale includes all broadcasting equipment, two vans, and a transmitter, along with a valuable broadcasting license boasting a 100,000-watt capacity. The radio station itself has a rich history of over 32 years, establishing strong relationships with local advertisers and listeners. It's a well-known source of music, local news, weather, and entertainment within the community. This turnkey operation provides immediate access to a successful business, allowing new owners to build upon its existing success and implement their own vision. The sale includes everything needed to continue operations seamlessly. This is a rare opportunity to acquire a profitable business and valuable commercial real estate in a desirable location. The property is situated in Lea County, New Mexico, with a zip code of 88240. Serious inquiries only.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Klma Radio Station

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.1149042
    Latitude
    32.7001034

    Nearby Similar for Sale

    • $425,000
      Pending

      Hobbs Multi-Office Building For Sale

      Large office building in downtown Hobbs, suitable for medical or office.
      311 W Broadway St, Hobbs, NM 88240
      View Details
    • $530,000
      Pending

      Downtown Hobbs Retail Investment Property

      Turn-key retail property in downtown Hobbs with seasoned tenants.
      203 W Broadway St, Hobbs, NM 88240
      View Details
    • $435,000
      5,000 SF

      Hobbs Retail Space - Prime Location

      Downtown Hobbs retail building, 5000 sq ft, high growth area.
      311 Broadway St, Hobbs, NM 88240
      View Details
    • $325,000
      5,000 SF

      Hobbs Commercial Shop & Land

      Five-acre lot, 5,000 sq ft shop, high visibility.
      10576 Stiles Rd, Hobbs, NM 88242
      View Details
    • $600,000

      Hobbs Retail Space - Prime Location

      9000 sq ft Retail Building, Central Hobbs
      118 Turner St, Hobbs, NM 88240
      View Details
    • $525,000
      5.00 Acres

      Hobbs Event Venue - 5 Acres

      Rustic barn, event rental, ample parking.
      12915 Denver City Hwy, Hobbs, NM 88242
      View Details
    • Contact for pricing
      3,622 SF

      NN Leased Restaurant Investment Opportunity

      NN leased restaurant with attractive rental escalations and renewal options.
      3619 NW County Rd, Hobbs, NM 88240
      View Details
    • $225,000
      1,539 SF

      Hobbs Commercial Property - $225K

      Prime Hobbs location, live/work potential.
      508 Dalmont St, Hobbs, NM 88240
      View Details
    • $1,200,000

      Hobbs, NM Multifamily Investment

      15-Unit Property, High Rental Income
      210 Dunnam St, Hobbs, NM 88240
      View Details
    • $1,500,000
      870 SF

      Hobbs Radio Station - Turnkey Business

      Thriving Radio Station, Established Business, Great Potential
      108 Willow St, Hobbs, NM 88240
      View Details
    • $1,750,000
      1,752 SF

      1824 Joe Harvey Blvd

      Retail properties & Spaces • 1,752 SF
      1824 Joe Harvey Blvd, Hobbs, NM 88240
      View Details

    FAQs

    What type of property is this?
    Land - 15,000 sq ft commercial lot, $1.5M
    Where is this land located?
    The property is located at 108 Willow St Hobbs, NM.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: $1,500,000 asking price; 15,000 SF lot size; Commercial land in Hobbs, NM
    (575) 392-3000 Call to check price and availability
    Request Owner's contact information
    108 Willow St 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.
    108 Willow St
    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 Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    108 Willow St 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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sandra Ortega
    Real Estate License ID: RE0434C-2022
    (575) 392-3000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!