Property profile

4640 N Lovington Hwy Hobbs, NM 88240

FOR SALE
Commercial real estate
Property ID
US61-0679584
2.3 ac lot
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Property summary

AI-generated overview

This exceptional 2.3-acre land parcel presents a remarkable investment opportunity in a high-traffic area of Hobbs, New Mexico. Situated at 4640 N Lovington Highway, this property boasts unparalleled visibility due to its location on a heavily traveled thoroughfare. The strategic placement offers significant advantages for a variety of commercial ventures. The land is conveniently located south of the new Covenant Hospital, enhancing its appeal to businesses seeking proximity to healthcare facilities. Furthermore, its proximity to multiple hotels, Zia Park Casino, and the Core Family Wellness Center ensures high foot traffic and a diverse customer base. The zoning allows for a wide range of commercial uses, including retail establishments, office spaces, medical facilities, and restaurants. This prime location offers exceptional potential for developers and investors seeking a high-visibility site with strong growth prospects in a thriving community. The property's 2.3-acre size provides ample space for development, allowing for flexibility in design and scale. The asking price for this exceptional property is $1,202,256. This represents a significant opportunity to acquire a strategically located land parcel in a rapidly growing area of Lea County, New Mexico, with a zip code of 88240. The coordinates for this property are 32.7531364 latitude and -103.1726652 longitude.

Property profile

Verified
Property type Commercial real estate
Lot 2.3 ac (100,188 SF)
UPID US61-0679584

Cap rate & NOI

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

Location

4640 N Lovington Hwy Hobbs, NM 88240
Hobbs metro
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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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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