The original deed on this property was signed by President Woodrow Wilson-it was a creation of the Homestead Act. Surface minerals (sand, gravel, caliche, etc.) go with the property. Geological reserves of 40,000 cubic yds of excellent quality pit-run caliche are exposed in NE corner of property. The "excellent quality" classification was identified and designated by a long-time professional in the road construction business. Excellent pit-run caliche is worth a minimum of $5/cubic yd-total resource value of $200,000. Above the caliche is a topsoil resource. Approximately 4,000 cubic yds of good brown sandy-loam topsoil can be produced by simple screening. Worth-$35/cubic yd-total resource value of $140,000. It must also be mentioned that a manufactured caliche product may be produced by simple crushing. This product would sell for $40/cubic yd-total caliche resource value of $1.6 million. Excellent quality construction materials located in the heart of Hobbs' future growth area.
Listing Office EDGE REALTY GROUP, 575-392-1000
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