110 E Corbett St is amulti-family property for lease in Hobbs, NM.
• Number of Units: 41
• Price per unit: $36,341
• Land Size: .60 Acres
• Zoning: Commercial
• Centrally located in Hobbs
• Cash on cash return: 12.57%
• Total return on investment: 21.04%
• Plenty of accessible parking
• Large laundry room
• Units: 38 Studio Units / 1 Bedroom &
1 Bath / 1 Mobile Home / 1 Warehouse
Lea County is the fastest growing county in New Mexico. Hobbs is the principal city in Lea County located along the Texas/New Mexico state border. According to Forbes Magazine, Hobbs N.M. was the eighth-fastest-growing “micropolitan area” in the county from mid-2012 to mid-2013. The local economy has expanded due in part to advances in Hydro Fracking and Horizontal Drilling; Hobbs sits on some of the richest oil deposits within the Permian Basin and has also become an EnergyPlex welcoming all types of energy
development from algae, wind and solar to the uranium enrichment facility that will supply 50% of the nation’s enriched uranium needs when completed. World-class potash has recently been discovered in the area as well; a fully operational mine is anticipated to open by 2015 and has the potential to be
mined for 75 years.
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