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    Arkansas Junction, NM 88240

    Sponsored
    For Sale
    $653,400

    1.5-acre lot, prime Lea County location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.5-acre commercial land parcel presents a unique investment opportunity in the thriving city of Hobbs, New Mexico, within Lea County. Located at 000 Lot 3, this property boasts a highly desirable location, offering excellent visibility and accessibility. The asking price is $653,400. Situated near major facilities including the CORE Center of Recreational Excellence, the new Covenant Hospital, Zia Park Racetrack and Casino, Lea County Event Center, and NMJC, this lot benefits from the robust growth and high traffic volume of the area. Its strategic placement directly off the Lovington Highway ensures significant exposure to both eastbound and westbound traffic, making it ideal for a variety of commercial ventures. The property's 1.5-acre size provides ample space for development, with potential uses including, but not limited to, restaurants and fast-food establishments. This is a rare chance to acquire a well-positioned commercial lot in a rapidly expanding region of New Mexico, offering significant potential for future returns. The property's zip code is 88240. The coordinates are 32.6702606 latitude and -103.4049445 longitude.

    Property Features for 0

    General Information

    Property type
    Land
    Lot Size
    65,340 SF
    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

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    FAQs

    What type of property is this?
    Land - 1.5-acre lot, prime Lea County location
    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 $653,400.
    (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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