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    Fully Leased Multi-Tenant Retail Center Title is generated by Realmo AI

    3605 S Gilbert Road, Gilbert, AZ 85297

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    Fully leased retail center with a multi-tenant mix and a 4.87-year weighted average lease term.

    Type:Retail
    Property size:
    6,007 SF
    Price / SF:
    $657/SF
    Added:
    May 30, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 3:54 am

    Property Features for 3605 S Gilbert Road

    General Information

    Standard status
    Active
    Size
    6,007 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    John Jackson

    Listing agent John Jackson License #SA586080000

    Listing office Diversified Partners

    Listing date May 30, 2026

    Source Crexi

    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 Diversified Partners

    HighLights

    • 6,007 SF, fully leased multi‑tenant retail center (Rivulon Shops)
    • Generates $219,664 NOI and is offered at $3,950,000 (5.56% cap rate)
    • 4.87‑year weighted average lease term
    • Tenant mix includes dining, service, wellness, and lifestyle‑oriented retail uses

    Overview

    Rivulon Shops is a 6,007-square-foot, fully leased multi-tenant retail center with an NOI of $219,664. The property is offered for $3,950,000 and reflects a 5.56% cap rate, based on the current in-place income. The center is designed with a modern, high-quality construction and a pedestrian-friendly environment, supporting a curated mix of dining, service, wellness, and lifestyle-oriented retail uses.

    The center is positioned adjacent to the Rivulon campus, a mixed-use destination that continues to draw a broad range of users, including major employers, healthcare-related users, hospitality operators, and new residential development. This setting is intended to support both daytime activity from nearby corporate and medical users and additional evening and weekend consumer demand. Regional connectivity is enhanced by Loop 202 and nearby arterial roadways, improving access for local residents and East Valley commuters.

    For tenants, investors, and buyers, Rivulon Shops offers an operating retail asset anchored by a balanced tenant roster and fully leased occupancy. With a 4.87-year weighted average lease term, the property provides continuity of income and a stable platform for a retail-oriented business plan within the broader Rivulon master-planned development.
    Location Intelligence

    Current Use by Public Records

    Bisbee Breakfast Club Restaurant DS Sports Nutrition (Bike/Boat/Book/etc) Store The Polish Lounge Nail Salon

    Suggested Use

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

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

    Similar Places Nearby

    • Mill Crossing — 2100 S Gilbert Rd, Chandler, AZ 85286
    • Crossroads Towne Center — 3757 S Gilbert Rd, Chandler, AZ 85286
    • Crossroads Towne Center — 2630 E Germann Rd, Chandler, AZ 85286

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.7889837
    Latitude
    33.2847506

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    FAQs

    What type of property is this?
    Shopping center - Fully leased retail center with a multi-tenant mix and a 4.87-year weighted average lease term.
    Where is this shopping center located?
    The property is located at 3605 S Gilbert Road Gilbert, AZ.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: 6,007 SF, fully leased multi‑tenant retail center (Rivulon Shops); Generates $219,664 NOI and is offered at $3,950,000 (5.56% cap rate); 4.87‑year weighted average lease term
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Jackson
    Real Estate License ID: SA586080000
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    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.

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