Property profile

0 La Mesa St Hobbs, NM 88242

OFF-MARKET
Land
2 ac lot
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Property summary

AI-generated overview

This exceptional 2-acre parcel of land in Hobbs, New Mexico, presents a unique opportunity for development. Recently subdivided, this property boasts a newly installed 3-horse pump in the irrigation well, ensuring ample water resources. Partial metal fencing is already in place along the side and front, with poles installed to facilitate the continuation of the fence along the back. The seller is actively completing the fencing between this property and the adjacent residence at 13927 N. La Mesa Street. This land is offered for sale independently, but there is also the option to purchase it in conjunction with the property at 13927 N. La Mesa Street (MLS #20244733), if desired. Located in Lea County, New Mexico, with the address listed as TBD N La Mesa Street, Hobbs, NM 88242 (32.8561489, -103.1686234), this property is priced affordably at $85,000. This makes it an ideal investment for those seeking a buildable lot with existing infrastructure in a desirable location. The convenient location and existing improvements make this a truly attractive opportunity.

Property profile

Verified
Property type Land
Lot 2 ac (87,120 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

La Mesa St Hobbs, NM 88242
Hobbs metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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