Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2101 Bensing Dr Hobbs, NM 88240
    Back to Search
    Property profile & analytics

    2101 Bensing Dr Hobbs, NM 88240

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 2101 Bensing Dr

    Property type
    Specialty properties

    Description

    This exceptional 3-acre property located at 2101 N Bensing Drive, Hobbs, NM 88240, presents a unique investment opportunity. The existing building, previously utilized as an assisted living facility, boasts 28 rooms and offers significant potential for redevelopment. Situated in Lea County, this special purpose property is priced at $275,000 and presents a compelling case for various commercial ventures. The spacious layout and existing infrastructure provide a solid foundation for a range of uses, including, but not limited to, a renovated assisted living facility, an apartment complex, or a similar business enterprise. The property's substantial size and versatile design allow for considerable flexibility in adapting it to meet the needs of a diverse range of commercial applications. The property's location in Hobbs, New Mexico, offers access to a thriving local market and provides ample opportunities for growth and expansion. Furthermore, owner financing is available, making this an even more attractive proposition for prospective buyers. This is a rare chance to acquire a substantial property with significant upside potential in a desirable location. The latitude and longitude coordinates are 32.723245, -103.1800622 respectively. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.18
    Latitude
    32.7232

    Comparable in this City

    • Value Estimation by Request

      210 Dunnam St

      Specialty properties
      210 Dunnam St, Hobbs, NM 88240
      View Details
    • Value Estimation by Request

      204 Corbett St

      Specialty properties
      204 Corbett St, Hobbs, NM 88240
      View Details
    • Value Estimation by Request

      6801 Nm Hwy

      Specialty properties
      6801 Nm Hwy, Hobbs, NM 88240
      View Details
    • Value Estimation by Request

      Bender Blvd

      Specialty properties
      0 Bender Blvd, Hobbs, NM 88240
      View Details
    • Value Estimation by Request

      1101 Christopher Ln

      Specialty properties
      1101 Christopher Ln, Hobbs, NM 88240
      View Details
    • Value Estimation by Request
      2.10 Acres

      2714 Dal Paso St

      Specialty properties • 2.10 Acres
      2714 Dal Paso St, Hobbs, NM 88240
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,622 SF

      NN Leased Restaurant Investment Opportunity

      NN leased restaurant with attractive rental escalations and renewal options.
      3619 NW County Rd, Hobbs, NM 88240
      View Details
    • $1,500,000
      870 SF

      Hobbs Radio Station - Turnkey Business

      Thriving Radio Station, Established Business, Great Potential
      108 Willow St, Hobbs, NM 88240
      View Details
    • Contact for pricing

      Fenced Commercial Yard in Hobbs

      4.34-acre fenced commercial yard near Eunice Highway.
      414 E Arco Rd, Hobbs, NM 88240
      View Details
    • Contact for pricing

      Land in Growing Lea County

      Land suitable for development in a rapidly growing area.
      Hobbs, NM 88240
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Space Available

      New retail space in a thriving commercial district.
      3601 N Grimes St, Hobbs, NM 88240
      View Details
    • Contact for pricing

      Retail Space in Hobbs, NM

      Retail space available for lease in Hobbs, New Mexico.
      3920 N Lovington Hwy, Hobbs, NM 88240
      View Details
    • $7 SF/Yr
      28,000 SF

      Retail Space in Bel Aire Center

      28,000 SF available in established Hobbs shopping center.
      931 E Bender Blvd, Hobbs, NM 88240
      View Details
    • Contact for pricing

      Commercial Land Available For Lease

      Commercial land parcels available for ground lease or sale.
      4100 N Lovington Hwy, Hobbs, NM 88240
      View Details
    • Contact for pricing

      Prime Land for Lease

      Multi-parcel project with high traffic and development potential.
      4210 N Lovington Hwy, Hobbs, NM 88240
      View Details
    • Contact for pricing

      Retail Center on Main Corridor

      Retail space in growing Hobbs commercial corridor for lease.
      3900 N Lovington Hwy, Hobbs, NM 88240
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2101 Bensing Dr
    Hobbs, NM 88240
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2101 Bensing Dr, Hobbs, NM, 88240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!