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

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    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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    Owner & transaction history
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    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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