Property profile

0 Millen Dr Hobbs, NM 88240

OFF-MARKET
Land
21.88 ac lot
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Property summary

AI-generated overview

This exceptional 21.88-acre land parcel presents a unique investment opportunity in Hobbs, New Mexico, located within Lea County. Situated at TBD W Millen Drive, zip code 88240, this property offers significant potential for various development projects. The expansive acreage provides ample space for a wide range of uses, subject to local zoning regulations. With its strategic location in Hobbs, this land benefits from access to established infrastructure and a thriving community. The property's coordinates are 32.7548334 latitude and -103.1781891 longitude. Prospective buyers are encouraged to conduct their own due diligence regarding zoning, utilities, and potential development restrictions. This is an excellent chance to acquire a substantial land holding in a dynamic New Mexico market. The asking price for this remarkable property is $600,000. Serious inquiries are welcome. This offering represents a compelling investment prospect for those seeking a significant land acquisition in a growing area. The property is ready for immediate consideration and offers a blank canvas for creative development plans. Further details are available upon request.

Property profile

Verified
Property type Land
Lot 21.88 ac (953,093 SF)

Cap rate & NOI

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

Location

Millen Dr Hobbs, NM 88240
Hobbs metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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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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