Building Details

Year Built 2005

Buildings 1

Building Size 5,140 SF

Tenancy Multi

Owner Occupied No

Listing Agency: Compass l***@compass.com Show Phone

Listed By: Blake Mallery · License #SA680838000 Show Phone

Source: Kathrynthomas

Added: Oct 14 Changed: Oct 28 Last Checked: Oct 28 at 3:45PM

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Investment Insights

Based on property information with market context.

Built in 2005, this 5,140 SF office property has professional office improvements and is leased to two tenants. Suites 105, 107 and 108, totaling approximately 3,858 SF, are anticipated to become available beginning April 1, 2027. Suite 106 is leased through September 30, 2027, providing a different occupancy timeline within the building. A roof replacement was completed in 2026, and the property includes covered and surface parking along with signage opportunities.

Key Highlights

• 5,140 SF office building with two tenants
• Approximately 3,858 SF across Suites 105, 107 and 108 anticipated to be available beginning April 1, 2027
• Suite 106 lease runs through September 30, 2027

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,944

Cap Rate

3.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,498,880 $1.5M

Cap Rate 7%

$1,070,629 $1.1M

Cap Rate 9%

$832,711 $832.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,140 SF

Gross rent

$124.0K $24.12/SF

− Vacancy

−$24.1K −$4.68/SF

EGI

$99.9K $19.44/SF

− OpEx

−$25.0K −$4.86/SF

NOI

$74.9K $14.58/SF

Area

Gilbert, AZ

Vacancy

19.40%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,498,880

Cap Rate 7%

$1,070,629

Cap Rate 9%

$832,711

Alternative Uses

Best Use

Office B

$1.07M

$936.8K – $1.25M (±1% cap)

NOI $74,944 @ 7.0% cap · market cap 3.84%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.35M

$1.18M – $1.57M (±1% cap)

NOI $94,466 @ 7.0% cap · market cap 4.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Tipsy Moon Events, ... Hotel & Motel Sonoran Vista Dentistry Dental Office Dr. Jesse F. ... Dental Office Dr. John M. ... Dental Office Phoenician Dental Studios Dental Office

Suggested Use

Top Pick Building Supply Electrical Service Food Market Daycare Center (Bike/Boat/Book/etc) Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

932

Businesses Nearby

Explore this area Business Placement

Demographics for 85233, AZ

39,006

Population

15,080

Households

2.6

Avg Household Size

37

Median Age

43%

College-Educated

95%

High-School Grad

9.6 sq mi

ZIP Area

4,063

Density / Sq Mi

$105,154

Median Household Income

$55,132

Median Earnings

$1,895

Median Rent

$468,600

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Professional office improvements and covered and surface parking support the property’s two-tenant configuration.

Where is this office building located?

The property is located at 1757 E BASELINE Road #106 Gilbert, AZ.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: 5,140 SF office building with two tenants; Approximately 3,858 SF across Suites 105, 107 and 108 anticipated to be available beginning April 1, 2027; Suite 106 lease runs through September 30, 2027