1902 Colonial Dr, Lovington, NM 88260
This exceptional 7,020 square foot lot, located at 1902 W Colonial Drive in Lovington, New Mexico, presents a fantastic opportunity for building your dream home. Situated within an established subdivision, this property offers convenience and peace of mind. The lot measures approximately 52 feet by 135 feet, providing ample space for a mobile home or a custom-built residence. The significant advantage of near-site utilities simplifies the construction process and reduces upfront costs. The property is located in Lea County, New Mexico, with the zip code 88260. Its coordinates are 32.953733 latitude and -103.370447 longitude. Priced competitively at $55,000, this land parcel represents an excellent investment in a desirable location. Don't miss this chance to acquire a build-ready lot in a well-established community. Act quickly, as properties like this are in high demand. This is a prime opportunity to own a piece of Lovington and build your future. The property is classified as land and is ready for immediate development.
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
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.