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Property profile & analytics
OFF-MARKET
Land

213-215 Michigan Dr Elephant Butte, NM 87935-0000

Property ID
Property summary
AI-generated overview

This exceptional .6432-acre parcel, located at 213-215 Michigan Drive in Elephant Butte, New Mexico, presents a unique opportunity for residential development. The property boasts a generous 28,017.79 square foot lot size, conveniently situated on a paved road. While no utilities are currently on-site, city water, sewer, and electricity are readily available for connection. Natural gas is also available but requires an extension. The land itself is generally level, sloping gently towards the rear. Zoned R-1-A for single-family residential use, this location allows for the construction of both stick-built homes and mobile homes, subject to minimum square footage requirements of 1,000 square feet and a minimum width of 22 feet. The asking price for this desirable property is $39,900. Its ideal location and zoning make it an attractive investment for builders and individuals seeking to construct their dream home in the desirable Elephant Butte area (zip code 87935-0000). The property is located in Sierra County, New Mexico.

Property profile
Verified
Property type Land
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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