0 Millen Dr, Hobbs, NM 88240
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.
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
Similar Nearby for Lease
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.