801w Joe Harvey Blvd, Hobbs, NM 88240 For Sale

This fee simple Walgreens is located in the heart of Hobbs, New Mexico - the gateway to the Permian Basin. Many industry sources have Lea County, where Hobbs is located, as the #1 highest oil producing county in the nation, with some estimates suggesting that the Permian Basin in general accounts for close to 50% of the oil production in the United States. As you'll see in the pages that follow, Hobbs is a very unique community with an ultra strong future. And it’s growing, fast. Projections call for 15% sustained growth over the next two decades. As the Permian Basin’s most livable community, Hobbs is also southeast New Mexico’s largest retail trade area. Since January of 2017, Hobbs has added nearly 100 new food establishments and 62 stores. Hobbs has invested $150 million in massive quality of life amenities, and recently completed a $75 million hospital and a $46 million vocational-technical high school. The greatest concentration of the population is under age 18, ensuring a positive stream of workers for the future labor supply. Hobbs is also the largest labor market in southeast New Mexico and boasts the most productive workforce training facility in the state at New Mexico Junior College.

Featuring an absolute net lease, with zero landlord responsibilities and a full Walgreens Corporate Guaranty this asset is an ideal 1031 Exchange property for a passive investor who wants the combination of a high volume store and excellent real estate intrinsics. ***Oil & Gas, Employment, Demographic and Economic Facts per the Economic Development Corporation of Lea County. More info here: https://choosehobbsnm.com/