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    OFF-MARKET
    Commercial real estate

    618 Turner St, Hobbs, NM 88240

    Built 1982
    Property ID
    US61-0756389
    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 Commercial real estate
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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