309 6Th St Hobbs, NM 88240
- Specialty properties
Current Use by Public Records
- Specialty properties
Property Details for 309 6Th St
- Year built
- 1960
- Property type
- Specialty properties
Description
This exceptional investment opportunity presents a beautifully remodeled former junior high school in Loving, New Mexico, situated in the heart of the Permian Basin and just two blocks from local schools. The property, encompassing 18,238.42 square feet, offers a unique blend of commercial and residential space, currently operating at 100% occupancy. The 14 units, ranging from one to three bedrooms, are fully furnished and feature individual exterior entrances and refrigerated air conditioning units. Five units include in-unit washer/dryer hookups. A significant portion of the building comprises approximately 3500+ square feet of office and training/conference space, complemented by amenities such as a basketball gym, game rooms, and a laundry facility. Units 10-14 enjoy access to a fenced courtyard. The property also boasts a meticulously remodeled owner's residence, a two-bedroom, two-bathroom unit crafted from the original wood shop. This residence showcases original metal home-economic cabinets in the kitchen and laundry room, along with artistic ceiling accents repurposed from the gym bleachers. It further includes an oversized heated and cooled garage/workshop equipped with 220-volt power. Built in 1960, this property presents a versatile investment prospect, ideal for a variety of uses, including offices, training facilities, employee housing, or multi-family development. The asking price is $2,800,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hobbs
- County
- Eddy
- State
- New Mexico
- Longitude
- -103.121
- Latitude
- 32.6964
