Single-Tenant Auto
For Sale
Contact for pricing
250 N Pasadena St, Gilbert, AZ 85233
Collision center occupying a freestanding industrial-park property under an absolute NNN lease.
Property Size9,551 SF
Lot Size0.60 Acres
Price / SF$248.14
Days on Market8
Property Features for 250 N Pasadena St
General Information
Standard status
Active
Size
9,551 SF
Lot size
0.60 Acres
Property subtype
RETAIL
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Year Built
2000
Buildings
1
Tenancy
Single
Listing Agency:
Newmark | Phoenix
(480) 241-5146
Listed By:
Jesse Goldsmith · License #SA586241000
(480) 241-5146
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 6:54AM
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 Newmark | Phoenix
Investment Insights
Based on property information with market context.
This 9,551-square-foot auto shop was constructed in 2000 and occupies approximately 0.6 acres within an industrial park. The property is leased to Kaizen Collision Center as a single-tenant asset under an absolute NNN lease.
The building is positioned at the northwest corner of McQueen Road and Elliot Road in Gilbert, Arizona, approximately two miles south of the US-60 Freeway. The site has reported visibility to more than 60,000 vehicles per day and is located at 250 N Pasadena St.
The building is positioned at the northwest corner of McQueen Road and Elliot Road in Gilbert, Arizona, approximately two miles south of the US-60 Freeway. The site has reported visibility to more than 60,000 vehicles per day and is located at 250 N Pasadena St.
Key Highlights
- 9,551‑square‑foot auto shop on approximately 0.6 acres
- Single tenant: Kaizen Collision Center
- Absolute NNN lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,380
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,107,600
$2.1M
Cap Rate 7%
$1,505,429
$1.5M
Cap Rate 9%
$1,170,889
$1.2M
Market Conditions
NOI Build-Up for 9,551 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$162.7K $17.04/SF
− Vacancy
−$12.2K −$1.28/SF
EGI
$150.5K $15.76/SF
− OpEx
−$45.2K −$4.73/SF
NOI
$105.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,107,600
Cap Rate 7%
$1,505,429
Cap Rate 9%
$1,170,889
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,380 @ 7.0% cap · market cap 4.45%
Second Best
Industrial
$987.2K
$863.8K – $1.15M
NOI $69,105 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$2.51M
$2.19M – $2.93M
NOI $175,534 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
21k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
ARCO
Shops & Services
10,375 visits/mo
0.4 miles
Chevron
Shops & Services
9,465 visits/mo
0.5 miles
Public Storage
Shops & Services
1,010 visits/mo
0.2 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Collision center occupying a freestanding industrial-park property under an absolute NNN lease.
Where is this auto shop located?
The property is located at 250 N Pasadena St Gilbert, AZ.
What is the asking price?
The asking price for this property is $2,370,000.
What are key features of this property?
This property features: 9,551‑square‑foot auto shop on approximately 0.6 acres; Single tenant: Kaizen Collision Center; Absolute NNN lease structure
