Hobbs Pavilion
Fully Leased 3 Tenant Strip in Prime Retail Location

1901 W, Joe Harvey Blvd
Hobbs, NM | 88240

Price: $2,979,800

NOI: $208,586

CAP: 7

Rentable SF: 5,249 SF

Land Size: 1.0926 AC

OPPORTUNITY OVERVIEW:

The subject property is a fully leased, three-tenant strip center totaling approximately 5,249 square feet, situated on 1.0926 AC. It is 100% occupied by AT&T, Wingstop, and R. Greenleaf. The property is located off of W. Joe Harvey Blvd in Hobbs, NM. Tenants in the immediate trade area include Walmart Supercenter, Applebee's, Buffalo Wild Wings, Lowe’s, McAllister’s, Holiday Inn Express and Home Depot.

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Hobbs is a city in Lea County, New Mexico, United States. It is a gateway to New Mexico, located in the Southeast corner of New Mexico, just 4 miles from the West Texas Border. The Hobbs area represents the best of the “high desert,” with its blue sky vistas and spectacular sunsets. The region exhibits a truly multicultural heritage: Cowboy legend, farming traditions, and Hispanic culture. Hobbs truly has a little of everything for all to enjoy. The largest industries in Hobbs are mining/quarrying and oil and gas extraction, followed by retail trade and educational services. Hobbs is the principal city of the Hobbs, New Mexico micropolitan statistical area, which includes all of Lea County. It was been nationally recognized by LendEDU as one of the fastest-growing U.S. cities that is still affordable for homebuyers. It was ranked #24 out of over 25,000 U.S. towns! Factors that were analyzed include income growth from 2000 to 2017 and forecasted income growth over the next five years.