213-215 Michigan Dr, Elephant Butte, NM 87935-0000
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.
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
Similar Nearby for Sale
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.