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    Arkansas Junction, NM 88240

    For Sale
    $1,829,520

    Prime Lea County land, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This 4.2-acre parcel of land is located in Hobbs, New Mexico, within Lea County, at 000 Lot 2, zip code 88240 (latitude 32.6702606, longitude -103.4049445). The asking price for this property is $1,829,520. Situated in a rapidly expanding area, this land offers exceptional potential for various commercial developments. Its strategic location provides high visibility and accessibility, being situated right off the Lovington Highway, offering exposure to traffic from both the east and west. The surrounding area boasts significant infrastructure, including the CORE Center of Recreational Excellence, the new Covenant Hospital, Zia Park Racetrack and Casino, Lea County Event Center, and New Mexico Junior College. This prime location makes it particularly well-suited for restaurants and fast-food establishments, though other commercial ventures are also viable. The property's size and location present a compelling opportunity for investors seeking to capitalize on the growth and development within Lea County. This is a rare opportunity to acquire a substantial land parcel in a thriving commercial area. The property is ready for immediate development.

    Property Features for 0

    General Information

    Property type
    Land
    Lot Size
    182,952 SF

    HighLights

    • $1,829,520 asking price.
    • 4.2‑acre land parcel.
    • Located in Hobbs, Lea County, New Mexico, zip code 88240.
    • Excellent location near CORE Center, Covenant Hospital, Zia Park, and Lea County Event Center.
    • High visibility on Lovington Highway, ideal for restaurants or fast food.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Arkansas Junction
    County
    Lea
    State
    New Mexico
    Longitude
    -103.4049445
    Latitude
    32.6702606

    Nearby Comparable

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    • $440,000

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    • $653,400
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      Hobbs, NM Commercial Land Opportunity

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      Arkansas Junction, NM 88240
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    • $120,155

      Hobbs, NM Land - Prime Location

      14,374.8 sq ft lot, build-ready.
      1203 Cambridge St, Arkansas Junction, NM 88240
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    • $5,868,838
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      Prime Lea County Commercial Land

      29.94 Acres, $5.8M Asking Price
      0 Tbd Lovington Hobbs, Arkansas Junction, NM 88240
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    • $120,466

      Hobbs, NM Land - Prime Development Site

      14,374.8 sq ft lot, excellent location.
      1209 Cambridge St, Arkansas Junction, NM 88240
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    FAQs

    What type of property is this?
    Land - Prime Lea County land, ideal for development.
    Where is this land located?
    The property is located at Arkansas Junction, NM.
    What is the asking price?
    The asking price for this property is $1,829,520.
    What are key features of this property?
    This property features: $1,829,520 asking price.; 4.2-acre land parcel.; Located in Hobbs, Lea County, New Mexico, zip code 88240.
    (575) 433-7000
    Request Owner's contact information
    Arkansas Junction, 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
    Arkansas Junction, NM 88240
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