406 Acres Spears Rd And State Line Rd, Lovington, NM 88260
This exceptional 406.09-acre property presents a unique investment opportunity in Lea County, New Mexico. Located on Spears Road and State Line Road, this expansive land parcel boasts convenient access to Plains Highway, offering excellent accessibility. The terrain is predominantly flat and features native vegetation, creating a versatile landscape suitable for various uses. A small farmhouse is situated at the southwest corner of the property, providing existing infrastructure. The asking price for this substantial land holding is $609,000. The property's size and location in Lovington, NM, zip code 88260, make it ideal for a range of development projects or as a significant land investment. The coordinates are 32.9753361 latitude and -103.4511768 longitude. Given its size and location, this property offers significant potential for future growth and development. The largely flat and native terrain presents a blank canvas for various uses, from agricultural pursuits to potential subdivision or commercial development. The existing small farmhouse adds to the property's value and could serve as a starting point for future improvements. This is a rare opportunity to acquire a substantial land parcel in a desirable location with excellent access to major roadways. Serious inquiries are encouraged.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.