We validate the discovery of a 2 Earth radii sub-Neptune-size planet around the nearby high proper motion M2.5-dwarf G 9-40 (EPIC 212048748), using high-precision near-infrared (NIR) radial velocity (RV) observations with the Habitable-zone Planet Finder (HPF), precision diffuser-assisted ground-based photometry with a custom narrow-band photometric filter, and adaptive optics imaging. At a distance of $d=27.9mathrm{pc}$, G 9-40b is the second closest transiting planet discovered by K2 to date. The planets large transit depth ($sim$3500ppm), combined with the proximity and brightness of the host star at NIR wavelengths (J=10, K=9.2) makes G 9-40b one of the most favorable sub-Neptune-sized planet orbiting an M-dwarf for transmission spectroscopy with JWST, ARIEL, and the upcoming Extremely Large Telescopes. The star is relatively inactive with a rotation period of $sim$29 days determined from the K2 photometry. To estimate spectroscopic stellar parameters, we describe our implementation of an empirical spectral matching algorithm using the high-resolution NIR HPF spectra. Using this algorithm, we obtain an effective temperature of $T_{mathrm{eff}}=3404pm73$K, and metallicity of $mathrm{[Fe/H]}=-0.08pm0.13$. Our RVs, when coupled with the orbital parameters derived from the transit photometry, exclude planet masses above $11.7 M_oplus$ with 99.7% confidence assuming a circular orbit. From its radius, we predict a mass of $M=5.0^{+3.8}_{-1.9} M_oplus$ and an RV semi-amplitude of $K=4.1^{+3.1}_{-1.6}mathrm{m:s^{-1}}$, making its mass measurable with current RV facilities. We urge further RV follow-up observations to precisely measure its mass, to enable precise transmission spectroscopic measurements in the future.
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