30.37 acre development opportunity north of Hobbs, New Mexico, offered at $950,000. The property provides a substantial contiguous tract and strong potential for residential subdivision or other future development. A preliminary subdivision concept has already been prepared, giving prospective developers a starting point for evaluating potential lot layout and development of the property. The preliminary concept is for planning purposes and remains subject to governmental approval, engineering, utility availability and other development requirements. With more than 30 acres, the property offers flexibility for a developer to consider a full subdivision, phased development, larger residential lots or other uses permitted by applicable zoning and land-use regulations. Water rights can be negotiated, adding significant value to a tract positioned for future development in the Hobbs area.
Listing courtesy of Found Real Estate.
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