Lea County · Hobbs
Sell Your Commercial Property In Hobbs, NM
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Hobbs and across Lea County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Neighborhoods & Nearby Towns: Downtown Hobbs · Lovington · Eunice · Jal — Lea County, NM
The Hobbs Market
What Drives Rentals In Hobbs
Hobbs, in Lea County, had 40,252 residents in ACS 2020-2024, and its median household income was $64,021, against $64,059 statewide. Hobbs renters number 4,832 households, 34.0% of occupied homes, paying a median $1,112 a month.
Owners who plan to sell commercial property in Hobbs, NM meet buyers who start with a short list. HUD's FY2027 two-bedroom fair market rent for Lea County is $1,327. The 2025 Hobbs residential tax rate is 26.989 mills, and rental vacancy is 9.8% in ACS 2020-2024.
Energy and mining jobs
ACS 2020-2024 counts 2,428 Hobbs workers, 13.8% of the employed, in agriculture and mining, against 3.6% statewide.Two Hobbs colleges
New Mexico Junior College opened in 1966 on 219 acres; University of the Southwest, founded 1962, sits on Lovington Highway.Covenant Health Hobbs Hospital
Covenant Health Hobbs Hospital, a 60-bed acute care hospital opened in September 2022, employs about 200 people.Our Buy Box
What We Buy In Hobbs
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Hobbs Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Hobbs
Renters hold 34.0% of occupied Hobbs homes, 4,832 of 14,211, per ACS 2020-2024 table B25003. Hobbs counts 1,816 homes in buildings of five or more units, 11.3% of 16,117 units, per table B25024. Half the Hobbs housing stock, 50.5%, was built before 1980, per table B25034.
Rents and affordability in Hobbs
Median gross rent in Hobbs was $1,112 a month in ACS 2020-2024, $45 above the New Mexico median of $1,067. Hobbs rental vacancy was 9.8% in the same survey. About 39.0% of Hobbs renter households spent 30% or more of income on housing, per table B25070.
| Unit size | HUD FY2027 FMR, Lea County, NM |
|---|---|
| Efficiency | $1,111 |
| 1 bedroom | $1,117 |
| 2 bedroom | $1,327 |
| 3 bedroom | $1,670 |
| 4 bedroom | $1,823 |
The HUD FY2027 fair market rents for Lea County took effect October 1, 2026. The $1,327 two-bedroom figure is $215 above the Hobbs median rent. Owners who sell commercial property in Hobbs, NM can point buyers to that spread.
Property taxes in Lea County
A $2,000,000 Hobbs apartment building would owe about $17,992.67 a year at the 2025 residential rate. The 2025 Property Tax Facts from the state Department of Finance and Administration lists Hobbs, Lea County district 16 In, at 26.989 residential mills and 34.497 non-residential mills.
Under NMSA 7-37-3, tax applies to one-third of value, or $666,666.67 here. At 34.497 mills the same building would owe $22,998.00. Anyone who plans to sell commercial real estate in Hobbs, NM should expect buyers to price both rates. Valuation protests are due 30 days after the assessor mails the notice of valuation, under NMSA 7-38-24.
Landlord rules in New Mexico
Hobbs cannot cap rents, because NMSA 47-8A-1 bars local ordinances that control rental rates on privately owned property. NMSA 47-8-18 limits deposits to one month's rent on leases under one year. Owners have 30 days after the tenancy ends or the resident leaves, whichever is later, to return the balance with itemized deductions.
Under NMSA 47-8-33, unpaid rent allows termination three days after written notice. Other material breaches require a seven-day notice. Buyers ask for these notice files when selling commercial property in Hobbs.
What it means for an owner in Hobbs
Hobbs combines $1,112 median rent, 9.8% rental vacancy and 1,816 homes in 5+ unit buildings. To sell commercial property in Hobbs, NM, run your income through our cap rate calculator using the 26.989-mill rate.
If you want to sell your apartment building in Hobbs, our seller page explains how we underwrite. Skyline Capital Investments buys 5+ unit buildings in Downtown Hobbs and nearby Lovington, Eunice and Jal.
Seller Notes
What Shapes A Hobbs Offer
More about selling in New Mexico →Investing in Hobbs? See apartment syndications in Hobbs →
- ACS figures are 2020-2024 five-year estimates for Hobbs city, Lea County and New Mexico.
- The $17,992.67 example applies 26.989 mills to one-third of a $2,000,000 building value.
- Before you sell commercial real estate in Hobbs, NM, organize rent rolls, deposit ledgers and notice files.
Seller Guides
Your Situation, Handled — Hobbs
Learn More
Taxes & Rules For Hobbs Property
The New Mexico rules that shape any deal in Hobbs: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Hobbs Seller FAQ
How do I sell commercial property in Hobbs, NM?
Sell through a broker or directly to a buyer of 5+ unit buildings. Buyers will compare your rents with the $1,112 Hobbs median and Lea County's $1,327 two-bedroom fair market rent for FY2027. Skyline Capital Investments buys 5+ unit apartment buildings in Hobbs.
What property tax will a buyer model if I sell commercial real estate in Hobbs, NM?
New Mexico taxes one-third of value under NMSA 7-37-3. Hobbs district 16 In carries 26.989 residential mills and 34.497 non-residential mills for 2025. On a $2,000,000 Hobbs apartment building, that equals $17,992.67 or $22,998.00 a year.
Can Hobbs cap how much I raise rents?
No. NMSA 47-8A-1 bars any New Mexico city or county, including home rule municipalities, from ordinances that control rental rates on privately owned property. Housing with government funding under contract to offer reduced rents to low- or moderate-income tenants is excluded.
How old are apartment buildings in Hobbs?
The median Hobbs home was built in 1980, against 1985 statewide, per ACS 2020-2024. About 50.5% of Hobbs housing predates 1980, compared with 42.7% across New Mexico. Buyers account for that age when they underwrite roofs, plumbing and mechanical systems.
What should I know before I sell multifamily property in Hobbs?
Rental vacancy in Hobbs was 9.8% in ACS 2020-2024, and 39.0% of renter households paid 30% or more of income on housing. Some 20.8% paid half or more. Buyers weigh those numbers against your collections and occupancy history.
What if my Hobbs building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
Can I sell my Hobbs apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Is it possible to sell rental property in Hobbs without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
What do I need to sell my apartment building in Hobbs?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Selling A Building In Hobbs?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
