Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6 E Palo Verde St Gilbert, AZ 85233

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $23 SF/Yr ($2,773 /Mo)

    Office space for rent near downtown Gilbert and Heritage District.

    Property size:
    1,447 SF
    Lot size:
    0.83 Acres

    Property Features for 6 E Palo Verde St

    General Information

    Size
    1,447 SF
    Lot size
    0.83 Acres

    We can help!

    Listing Contact
    Aaron Norwood
    Source: Moodyscre

    Listing Agent: Aaron Norwood

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Space Near Heritage District

    This 1,447-square-foot office space is located with frontage on Gilbert Road and within walking distance of Downtown Gilbert. The property is situated near the Heritage District, which features over 30 restaurants, including Culinary Dropout, Postino, Snooze, The Porch, Barrio Queen, and Prep & Pastry. It is located south of the 531,000-square-foot mixed-use development Heritage Park.
    Location Intelligence

    Current Use by Public Records

    Core Connection | Myofascial ... Physical Therapist Alcohol Screening Services Alcoholism Treatment Program Sacred hARTS Alternative Medicine Practitioner Loan Till Payday ... Loan Agency Elements Counseling Psychotherapist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.7890389
    Latitude
    33.3480655

    Nearby Similar for Lease

    • $1,796 /Mo
      5,217 SF

      Gilbert Professional Park Office Space

      Office space with excellent visibility, covered parking, and modern interiors.
      428 S Gilbert Bldg 3, Gilbert, AZ 85296
      View Details
    • $12 SF/Yr
      23,772 SF

      Mixed-Use Property in Gilbert, AZ

      Mixed-use property with office and retail spaces in Gilbert, AZ.
      1111 N Gilbert Rd, Gilbert, AZ 85234
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Gilbert, Arizona

      Prime retail spaces with drive-thru in high-traffic Gilbert location.
      Sec Higley Rd & Ocotillo Rd, Gilbert, AZ 85298
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Costco, Winco

      Retail shops anchored by Costco and Winco Foods.
      1295 N Arizona Ave, Gilbert, AZ 85233
      View Details
    • $30 SF/Yr
      4,024 SF

      Medical Office Condo in Gilbert

      Professional medical office condo with excellent visibility and convenient access.
      1425 S Higley Rd, Gilbert, AZ 85296
      View Details
    • Contact for pricing
      232,179 SF

      Prime Gilbert Executive Office Suites

      Val Vista & Germann Rd: 12 Suites Available
      0 Nwc- Val Vis Rd And Germann Rd, Gilbert, AZ 85297
      View Details
    • $45 SF/Yr
      4,530 SF

      Fitness Space in Gilbert, Arizona

      Prime location ideal for fitness and wellness tenants in Gilbert.
      2490 S Recker Rd, Gilbert, AZ 85295
      View Details
    • $28 SF/Yr
      1,481 SF

      Class A Medical Office Space

      Medical office space in a mixed-use development, high-growth area.
      3875 E Williams Field Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      388 SF

      Gilbert Industrial Park for Lease

      388,897 SF industrial park suitable for logistics, distribution, manufacturing.
      4160 E Warner Rd, Gilbert, AZ 85296
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space in Gilbert, Arizona

      Retail space available in high-traffic Gilbert location.
      Nwc Val Vis Rd & Germann Rd, Gilbert, AZ
      View Details
    • Contact for pricing
      3,320 SF

      Retail Space in Gilbert, Arizona

      Preleasing opportunity in thriving Gilbert retail submarket, completion Q4 2024.
      2337 E Guadalupe Rd, Gilbert, AZ 85233
      View Details
    • Contact for pricing
      7,619 SF

      Retail Space on Val Vista

      Retail space available in high-traffic Gilbert location.
      Nwc Val Vis Rd Germann Rd, Gilbert, AZ
      View Details

    FAQs

    What type of property is this?
    Office space - Office space for rent near downtown Gilbert and Heritage District.
    Where is this office space located?
    The property is located at 6 E Palo Verde St Gilbert, AZ.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: - Gilbert Road Frontage offers excellent visibility.; - Walking distance to Downtown Gilbert.; - Enjoy being near Heritage District restaurants.
    (480) 294-6016
    Request Owner's contact information
    6 E Palo Verde St Gilbert, AZ 85233
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6 E Palo Verde St
    Gilbert, AZ 85233
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6 E Palo Verde St Gilbert, AZ 85233
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Aaron Norwood
    Real Estate License ID: AZ SA561466000
    (480) 294-6016
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.