Retail Office Building

Retail-Commercial for Sale
Catylist Listing ID: 30737230
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 3,536 SF
Gross Land Area: 42,000 - 41,315 SF
Sale Price: $750,000
Unit Price: $212.10 PSF
Has Drive-Thru? Yes
Property Use Type: Vacant/Owner-User
Building Name: Former Bank Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/8/2021

Overview / Comments

The building is a single story former bank building, with 4 drive-up lanes and two drive up ATMs.

Zoning. The subject is in Zone E, the Economic Zone. The purpose of this zone is to sustain existing improvements and encourage new development for municipal, government, multi-family, office, lodging properties, retail business, or businesses that generate gross receipts tax revenues for the City.

The property is located on the east side of Main Street just south of
the heart of Lovington's downtown area.. It is flat apart from minor grade differences for on-site drainage.

A portion of the site is in Flood Zone AE. A map is available from Seller's agent.

Additional Details

Nearest MSA: Hobbs
County: Lea
Taxing Authority: Lea County
Tax ID/APN: 4000262160001
Zoning: E, ECONOMIC ZONE, LOVINGTON
Retail Clientele: General, Family, Business, Traveler
Property Located Between: Avenues 'E' and 'F'.
Property Visibility: Excellent
Largest Nearby Street: Main Street
Feet of Frontage: 300
Highway Access: State Highway 82 and Highway18
Airports: Lea County Regional Aiirport, Hobbs, NM
Site Description: Full half block south side of Main Street between Avenues E and F. The site is flat, except for minor swales for landscaping and drainage.
Area Description: Main Street is the major commercial corridor in Lovington and both sides of the street are developed with retail/commercial or government properties or about three blocks to the east and west, The zoning is commercial and the land located farther east and west of Main Street is zoned for either residential or industrial use.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1994
Roof Type: Other
Construction/Siding: Steel Frame, Stucco
Exterior Description: The site contains a single one-story building with good landscaping and good parking, There are well placed windows. The exterior finish is stucco.
Total Parking Spaces: 25
Parking Ratio: 7.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface parking, with code HC parking.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: DSL
Interior Description: The interior is currently configured as a typical commercial bank, with a vault, teller lines, open and private office areas, conference room and service areas, including a break room, server and utility rooms and two restrooms.
Zoning Description: Zoning. The subject is in Zone E, the Economic Zone. The purpose of this zone is to sustain existing improvements and encourage new development for municipal, government, multi-family, office, lodging properties, retail business, or businesses that generate gross receipts tax revenues for the City.
In Flood Plain?: Yes
Lot Frontage: 300
Lot Depth: 140
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None known
Land Ownership: Fee
Legal Description: LOTS 1 - 12, BLOCK 71, LLANO ADDITION, LOVINGTON, NEW MEXICO

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,779 11,470 11,470
Median Age: 31.52 30.85 30.85
Households: 1,864 3,738 3,738

Contact

Photograph of Listing Agent

Samuel H Carnes

self
CARNM CIE Member
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