Property profile

618 Turner St Hobbs, NM 88240

OFF-MARKET
Land
Property ID
US61-0756389
Built 1982
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Property summary

AI-generated overview

This exceptional commercial property, located at 618 S Turner Street in Hobbs, New Mexico, is offered at $285,000. The property consists of a sizable land parcel improved with three updated office spaces and a large shop. Built in 1982, the existing structures provide immediate functionality, while the land itself presents significant potential for future development or expansion. The property boasts a convenient location within a high-traffic area of Hobbs, ensuring excellent visibility and accessibility for any business. The layout is versatile, suitable for a wide range of commercial uses. A key feature is the inclusion of a gated yard, providing secure storage or outdoor workspace. The zip code is 88240, and the property is situated in Lea County. This is an excellent opportunity for investors or business owners seeking a well-located and adaptable commercial property in a thriving New Mexico market. The property's existing structures offer immediate occupancy, minimizing upfront investment and allowing for rapid business commencement. The combination of existing improvements and ample land provides a unique opportunity for growth and customization. This property is ready for its next chapter.

Property profile

Verified
Property type Land
Year built 1982
UPID US61-0756389

Cap rate & NOI

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

Location

618 Turner St Hobbs, NM 88240
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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