This exceptional 2.37-acre property presents a unique investment opportunity in Tatum, New Mexico. Conveniently located on the 1300 Block of E Third Street, this land is already subdivided into five lots of varying sizes, offering flexibility for immediate development or future expansion. The property boasts a readily available water well, eliminating the need for immediate connection to municipal water services. City utilities are conveniently located nearby, ensuring easy access to essential services for any construction project. This prime location within the city limits of Tatum provides a strategic advantage for residential or commercial development, capitalizing on the growing potential of the area. The existing subdivision simplifies the permitting and development process, saving time and resources. With its convenient location, existing water well, and proximity to city utilities, this 2.37-acre parcel is an ideal canvas for your next project. The asking price of $69,900 represents a compelling value for this ready-to-develop land in Lea County, New Mexico. The property's address is 1300 Block E Third Street, Tatum, NM 88267. Don't miss this chance to acquire a versatile and well-situated property in a thriving New Mexico community.
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
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.