Leased Shopping
1166 South Gilbert Road, Gilbert, AZ 85296
For Sale
$9,675,000
Established retail center with prominent neighboring tenants and additional leasable space for future occupancy.
Property Size37,613 SF
Price / SF$257.22
Days on Market50
Property Features for 1166 South Gilbert Road
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Anchor Co-Tenants
Traffic Count
Additional Details
Cap Rate
Building Details
Tenancy
Listing Agency:
Phoenix Commercial Advisors
Listed By:
John Schweikert · License #AZ BR512679000
(602) 734-7218
Source:
Phoenixcommercialadvisors
Added: Sep 19
Changed: Oct 25
Last Checked: Nov 6 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Phoenix Commercial Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Shops at Gilbert Town Square is a 37,613 SF shopping center that is 92% leased, with approximately 9,000 SF available for lease-up. The property includes three Christ Church suites totaling nearly 6,000 SF, measuring 3,129 SF, 1,400 SF, and 1,610 SF. Each suite carries a 5-year lease term with a landlord option, providing control over future re-tenanting timing.
The center is positioned at Gilbert Road and Warner Road in Gilbert, with a combined intersection traffic count of nearly 58,000 VPD. More than 366,000 residents live within 5 miles, while nearly 1,000 multifamily units are adjacent across Town Commons, Keller at Town Square, Cadia Crossing, The Reserve, The Wyatt, and The Carson. Neighboring tenants include Christ Church, Regal Cinema, Lucky Strike, Chipotle, Pei Wei, and Cold Beers & Cheeseburgers. The property carries a 7.00 cap rate.
The center is positioned at Gilbert Road and Warner Road in Gilbert, with a combined intersection traffic count of nearly 58,000 VPD. More than 366,000 residents live within 5 miles, while nearly 1,000 multifamily units are adjacent across Town Commons, Keller at Town Square, Cadia Crossing, The Reserve, The Wyatt, and The Carson. Neighboring tenants include Christ Church, Regal Cinema, Lucky Strike, Chipotle, Pei Wei, and Cold Beers & Cheeseburgers. The property carries a 7.00 cap rate.
Key Highlights
- 37,613 SF shopping center with 92% leased occupancy
- Approximately ±9,000 SF of leasable space available
- Three Christ Church suites total nearly 6,000 SF: 3,129 SF, 1,400 SF, and 1,610 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$414,999
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,299,980
$8.3M
Cap Rate 7%
$5,928,557
$5.9M
Cap Rate 9%
$4,611,100
$4.6M
Market Conditions
NOI Build-Up for 37,613 SF
Gross rent
$640.9K $17.04/SF
− Vacancy
−$48.1K −$1.28/SF
EGI
$592.9K $15.76/SF
− OpEx
−$177.9K −$4.73/SF
NOI
$415.0K $11.03/SF
Area
Gilbert, AZ
Vacancy
7.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,299,980
Cap Rate 7%
$5,928,557
Cap Rate 9%
$4,611,100
Alternative Uses
Best Use
Retail
$5.93M
$5.19M – $6.92M
NOI $414,999 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.88M
$8.64M – $11.52M
NOI $691,275 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
58,000 VPD
Traffic count
92%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
44k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Leisure 29%
Beauty & Spa 5%
Buffalo Wild Wings
Dining
16,340 visits/mo
0.3 miles
Regal Cinemas Gilbert 14
Leisure
12,656 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
7,310 visits/mo
0.4 miles
Pei Wei Asian Express
Dining
4,916 visits/mo
0.3 miles
Sport Clips
Beauty & Spa
2,379 visits/mo
0.3 miles
Demographics for 85296, AZ
50,418
Population
18,065
Households
2.8
Avg Household Size
34
Median Age
49%
College-Educated
96%
High-School Grad
11.7 sq mi
ZIP Area
4,309
Density / Sq Mi
$117,120
Median Household Income
$61,282
Median Earnings
$2,141
Median Rent
$496,200
Median Home Value
Market
Properties on Market for Shopping centers in Maricopa County
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Established retail center with prominent neighboring tenants and additional leasable space for future occupancy.
Where is this shopping center located?
The property is located at 1166 South Gilbert Road Gilbert, AZ.
What is the asking price?
The asking price for this property is $9,675,000.
What are key features of this property?
This property features: 37,613 SF shopping center with 92% leased occupancy; Approximately ±9,000 SF of leasable space available; Three Christ Church suites total nearly 6,000 SF: 3,129 SF, 1,400 SF, and 1,610 SF
