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    118 Turner St Hobbs, NM 88240

    For Sale
    $600,000

    9000 sq ft Retail Building, Central Hobbs

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional retail property, located at 118 N Turner Street in the heart of Hobbs, New Mexico's central business district, offers a substantial 9000 square feet of versatile space. Priced at $600,000, this building presents a significant opportunity for businesses of all sizes. Its previous use as a salon showcases its adaptability, making it ideal for a variety of commercial ventures, including but not limited to medical offices, salons, or massage parlors. The property's central location within Lea County, zip code 88240 (latitude 32.7017183, longitude -103.135944), ensures high visibility and accessibility for customers. The ample square footage allows for significant customization to suit individual business needs. This is a rare opportunity to acquire a well-situated, spacious retail building in a thriving New Mexico community. Serious inquiries are encouraged to view this property before it's gone. The property is classified as retail and is ready for immediate occupancy.

    Property Features for 118 Turner St

    General Information

    Property type
    Retail properties
    Property Profile Location Intelligence

    Current Use by Public Records

    New Creation Apostolic ... Apostolic Church Bright House Telecommunications Service Provider New Creation Apostolic ... School

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.135944
    Latitude
    32.7017183

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    FAQs

    What type of property is this?
    Retail property - 9000 sq ft Retail Building, Central Hobbs
    Where is this retail property located?
    The property is located at 118 Turner St Hobbs, NM.
    What is the asking price?
    The asking price for this property is $600,000.
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    118 Turner St 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
    118 Turner St Hobbs, NM 88240
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