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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2726 Lovington Hwy Hobbs, NM 88240

    • Distribution centers
    • 3,200 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0738889
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CNR / Corporate Office

    Property Details for 2726 Lovington Hwy

    Property size
    3,200 SF
    Property type
    Distribution centers

    Description

    This 3,200 square foot warehouse, situated on 1.10 acres in Hobbs, New Mexico, presents a compelling investment opportunity. Located on the highly trafficked NM State Highway 18 (Hobbs-Lovington Highway), this property boasts exceptional visibility and easy highway access. The warehouse is fully enclosed by chain link fencing, secured by a rolling slide gate large enough to accommodate 18-wheelers. Inside, the space includes three offices, a small break room, and two restrooms. A loft area above the offices provides additional storage. The shop area features a small chain hoist mounted on an H-beam, adding to its functionality. The property also includes a spacious apron for enhanced safety and maneuverability. The asking price is $500,000, translating to $156.25 per square foot. Its versatile design and prime location make it suitable for a variety of commercial uses. The address is 2726 N Lovington Hwy, Hobbs, NM 88240. This property offers a unique blend of accessibility, security, and functional space, making it an ideal investment in a thriving New Mexico market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.1511249
    Latitude
    32.7308785

    Comparable in this City

    • $1,650,000

      Hobbs, NM Warehouse - $1.65M

      Prime Lea County industrial property; ideal for oilfield or trucking.
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    • $440,000

      608 S Commerce Street

      Distribution properties
      608 Commerce St, Arkansas Junction, NM 88240
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    • $550,000

      Hobbs, NM Commercial Warehouse

      0.48-Acre Shop with Four Bays - $550K
      806 Main St, Hobbs, NM 88240
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    • $465,000

      Hobbs Warehouse: Prime Location

      .87-acre industrial warehouse, high visibility.
      821 Grimes St, Hobbs, NM 88240
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    • $5,868,838
      29.94 Acres

      Prime Lea County Commercial Land

      29.94 Acres, $5.8M Asking Price
      0 Tbd Lovington Hobbs, Arkansas Junction, NM 88240
      View Details
    • $350,000
      4.20 Acres

      Hobbs, NM Commercial Land for Sale

      4.2 Acres, Prime Commercial Location
      6721 World Dr, Hobbs, NM 88240
      View Details

    Similar Nearby for Sale

    • $1,650,000

      Hobbs, NM Warehouse - $1.65M

      Prime Lea County industrial property; ideal for oilfield or trucking.
      1430 Bender Blvd, Hobbs, NM 88240
      View Details
    • $440,000

      608 S Commerce Street

      Distribution properties
      608 Commerce St, Arkansas Junction, NM 88240
      View Details
    • $550,000

      Hobbs, NM Commercial Warehouse

      0.48-Acre Shop with Four Bays - $550K
      806 Main St, Hobbs, NM 88240
      View Details
    • $465,000

      Hobbs Warehouse: Prime Location

      .87-acre industrial warehouse, high visibility.
      821 Grimes St, Hobbs, NM 88240
      View Details
    • $5,868,838
      29.94 Acres

      Prime Lea County Commercial Land

      29.94 Acres, $5.8M Asking Price
      0 Tbd Lovington Hobbs, Arkansas Junction, NM 88240
      View Details
    • $350,000
      4.20 Acres

      Hobbs, NM Commercial Land for Sale

      4.2 Acres, Prime Commercial Location
      6721 World Dr, Hobbs, NM 88240
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Hobbs, NM Commercial Warehouse

      High-traffic corner lot, versatile space.
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    • $7 SF/Yr
      28,000 SF

      Retail Space in Bel Aire Center

      28,000 SF available in established Hobbs shopping center.
      931 E Bender Blvd, Hobbs, NM 88240
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    • Contact for pricing
      1,600 SF

      Hobbs, NM Office Space for Lease

      Prime Hobbs office space, multiple suites available.
      3601 Grimes St, Hobbs, NM 88240
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    • Contact for pricing
      2,513 SF

      Retail Space in Hobbs, NM

      Retail space available for lease in Hobbs, New Mexico.
      3920 N Lovington Hwy, Hobbs, NM 88240
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    • Contact for pricing
      195,584 SF

      Hobbs Retail Land Opportunity

      Prime Lea County location, build-to-suit options.
      4100 Lovington Hwy, Hobbs, NM 88240
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    • Contact for pricing
      1,920 SF

      Retail Center on Main Corridor

      Retail space in growing Hobbs commercial corridor for lease.
      3900 N Lovington Hwy, Hobbs, NM 88240
      View Details
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    Hobbs, NM 88240
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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