Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Office Space Near Hospital Title is generated by Realmo AI

    3477 Mercy Road, Gilbert, AZ 85297

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $28 SF/Yr $25,309/Mo (calc)

    Class A medical office building adjacent to Mercy Gilbert Medical Center.

    Type:Healthcare
    Property size:
    10,847 SF
    Added:
    Mar 25, 2026
    Days on Market:
    46
    Last Refresh:
    Mar 18 at 9:08 am

    Property Features for 3477 Mercy Road

    General Information

    Standard status
    Active
    Size
    10,847 SF
    Property subtype
    Healthcare

    We can help!

    Listing Contact
    Philip Wurth, CCIM
    Philip Wurth, CCIM

    Listing agent Philip Wurth, CCIM

    Listing office CBRE | Phoenix

    Listing date Mar 25, 2026

    Source Cbre

    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 CBRE | Phoenix

    HighLights

    • Adjacent to Mercy Gilbert Medical Center and the new Women’s and Children’s Pavilion
    • Immediate access to Loop 202 at Val Vista Dr.
    • ±45,000 SF Class A, state‑of‑the‑art medical office building
    • Designed to meet the needs of both healthcare providers and their patients
    • Advanced infrastructure with specialized HVAC systems
    • High‑speed internet and robust electrical support for medical equipment

    Overview

    This Class A medical office building offers approximately 45,000 square feet of space designed for healthcare providers and their patients. The building features advanced infrastructure, including specialized HVAC systems, high-speed internet, and robust electrical support for medical equipment. It is located adjacent to Mercy Gilbert Medical Center and the new Women’s and Children’s Pavilion, with immediate access to Loop 202 at Val Vista Drive. The property is also situated close to established retail and dining options.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Master Fencing General Contractor Nicole O. Afuape, ... Physician Curtis R. Cook, ... Physician Andrew P. Wong, ... Pediatrician Dignity Health Medical ... Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Similar Places Nearby

    • Market Street PET DEPOT — 2979 S Market St, Gilbert, AZ 85295
    • Market Street Pet Hospital — 2979 S Market St Suite B, Gilbert, AZ 85295
    • Pet Dental USA — 1981 E Pecos Rd, Gilbert, AZ 85297
    • Valley Spay and Neuter Clinic — 1981 E Pecos Rd, Gilbert, AZ 85297

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.7482553
    Latitude
    33.2874926

    Nearby Similar for Lease

    • $30 SF/Yr

      Medical Office Space in Gilbert

      Professional medical office condo with excellent visibility and convenient access.
      1425 S Higley Rd, Bldg 9, Gilbert, AZ 85296
      View Details
    • $26 SF/Yr

      Professional Office Suite in Gilbert

      1,585 SF office suite in a premier Gilbert business park.
      633 E Ray Rd, Bldg 7, Gilbert, AZ 85296
      View Details
    • Sponsored
      Contact for pricing

      AZ, Gilbert - W Elliot Rd

      890 Elliot Rd, Unit 101, Gilbert, AZ 85233
      View Details
    • Contact for pricing

      Gilbert Retail Shops For Rent

      Retail spaces available in Gilbert, Arizona, built in 2005.
      3107 S Lindsay Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Gilbert Retail Space For Lease

      Retail space in a multi-tenant strip center in Gilbert, AZ.
      3107 S Lindsay Rd, Gilbert, AZ 85295
      View Details
    • $27 SF/Yr

      Mixed-Use Complex in Gilbert

      Mixed-use complex with retail, dining, shopping, and entertainment options.
      1040 South Gilbert Road, Gilbert, AZ, 85296
      View Details
    • $45 SF/Yr

      Fitness Space in Gilbert, Arizona

      Prime location ideal for fitness and wellness tenants in Gilbert.
      2490 S Recker Rd, Gilbert, AZ 85295
      View Details
    • $1.35 SF/Yr

      Freestanding Office/Warehouse Building For Rent

      5,434 SF office/warehouse building on 0.57 acres available for lease.
      1425 North Mondel Drive, Gilbert, AZ, 85233
      View Details
    • $24 SF/Yr

      Office Suites in Gilbert Location

      Office suites for rent in Gilbert, Arizona, south of US-60.
      20, 28 W Juniper Ave, Gilbert, AZ 85233
      View Details
    • $26 SF/Yr

      Class A Gilbert Business Park

      Class A office complex in high-growth Gilbert, close to US-60.
      971 N Gilbert Rd, Gilbert, AZ 85234
      View Details
    • $12 SF/Yr

      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
    • $1.40 SF/Yr

      Industrial Building with Fenced Yard

      6,096 SF single-tenant industrial building with secure fenced yard.
      636 W Commerce Ave, Gilbert, AZ 85233
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Class A medical office building adjacent to Mercy Gilbert Medical Center.
    Where is this medical office space located?
    The property is located at 3477 Mercy Road Gilbert, AZ.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Adjacent to Mercy Gilbert Medical Center and the new Women’s and Children’s Pavilion; Immediate access to Loop 202 at Val Vista Dr.; ±45,000 SF Class A, state‑of‑the‑art medical office building
    (602) 735-5649
    We can help!
    Listing Contact
    Philip Wurth, CCIM
    Philip Wurth, CCIM
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    3477 Mercy Road, Gilbert, AZ, 85297
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!