724 S Grimes Street

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724 S Grimes Street

Hobbs, NM 88240
Asking Price
$295K
Asset Type
Mixed-use
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Property located at 724 S Grimes Street in Hobbs
  • Asset offered for sale at a price of 295000
  • Versatile mixed-use property situated within the Permian Basin
  • Strategic location supports regional energy and agricultural economic activity
  • Flexible configuration suitable for diverse commercial or residential uses

What's Special

Hobbs functions as a central hub within the Permian Basin, supporting a steady regional economy driven largely by energy and agricultural sectors. Positioned at 724 S Grimes Street, this mixed-use asset provides a functional footprint within a growing New Mexico market. The property allows for flexible operational strategies, catering to investors or owner-occupiers looking to establish a presence in a locale that serves a consistent population base. Prospective buyers can leverage the versatility inherent in mixed-use zoning to accommodate various commercial or residential requirements. Given the layout and strategic location, the site is suitable for professional services, retail storefronts, or diversified income-producing configurations. Local accessibility remains a primary benefit for businesses needing to connect with the broader southeastern New Mexico region and the surrounding industrial corridor.

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NOI
$80,000
Cap Rate
27.12%
DSCR
4.57
Strong
Cash-on-Cash
70.61%
Monthly Payment
$1,459.499
Annual Cash Flow
$62,486.011

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