Medical Office Condo
For Sale
$830,000
633 E Ray Rd Ste 104, Gilbert, AZ 85296
Efficient office condo suite includes a private restroom, controlled entry, and two fenced garages with extra attached storage.
Property Size1,517 SF
Price / SF$402.52
Days on Market94
Property Features for 633 E Ray Rd Ste 104
General Information
Standard status
Active
Size
1,517 SF
Class
C
Property subtype
Office
Site & Location
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Office Units
1
Building Details
Building Size
1,517 SF
Year Built
2006
Listing Agency:
Commercial Properties Inc.
Listed By:
Eric Butler · License #AZ #BR515583000
(602) 809-6570
Source:
Cpiaz
Added: Jul 19
Changed: Oct 5
Last Checked: Oct 19 at 4:27AM
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 Commercial Properties Inc.
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Investment Insights
Based on property information with market context.
This medical office condo suite offers 1,517 square feet of efficient, private, professionally presented space. The layout includes a dedicated reception area, perimeter windows for generous natural light, and a private restroom facility within the suite. Secure, controlled-access entry supports tenant privacy, and the space is described as having modern mechanical and utility infrastructure in place. The unit is also offered with two fenced garages plus an additional 545 square feet of garage/storage area at the back of the project.
The property is located at 633 E Ray Rd, Suite 104, in Gilbert, Arizona, within a unique project that provides fenced/secured storage and garage area. The offering notes on-site parking allocations for suite occupants and an opportunity for signage presence within the Ray Road corridor.
Ownership is structured as a condominium association with professional property management referenced in the remarks, and the garages/storage are positioned to reinforce the project’s secured storage concept.
The property is located at 633 E Ray Rd, Suite 104, in Gilbert, Arizona, within a unique project that provides fenced/secured storage and garage area. The offering notes on-site parking allocations for suite occupants and an opportunity for signage presence within the Ray Road corridor.
Ownership is structured as a condominium association with professional property management referenced in the remarks, and the garages/storage are positioned to reinforce the project’s secured storage concept.
Key Highlights
- 1,517 SF office condo suite with a private restroom and perimeter windows for natural light
- Secure, controlled‑access entry plus a dedicated reception area for client‑facing convenience
- Private suite layout offers flexible interior configuration options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,065
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$601,300
$601.3K
Cap Rate 7%
$429,500
$429.5K
Cap Rate 9%
$334,056
$334.1K
Market Conditions
NOI Build-Up for 2,062 SF
Gross rent
$49.7K $24.12/SF
− Vacancy
−$9.6K −$4.68/SF
EGI
$40.1K $19.44/SF
− OpEx
−$10.0K −$4.86/SF
NOI
$30.1K $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%
$601,300
Cap Rate 7%
$429,500
Cap Rate 9%
$334,056
Alternative Uses
Best Use
Office B
$429.5K
$375.8K – $501.1K
NOI $30,065 @ 7.0% cap · market cap 3.62%
Second Best
Healthcare Medical
$400.9K
$350.8K – $467.7K
NOI $28,060 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$541.4K
$473.7K – $631.6K
NOI $37,897 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85296, AZ
50,418
Population
18,065
Households
2.8
Avg Household Size
34
Median Age
49%
College-Educated
96%
High-School Grad
11.7 sq mi
ZIP Area
4,309
Density / Sq Mi
$117,120
Median Household Income
$61,282
Median Earnings
$2,141
Median Rent
$496,200
Median Home Value
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Arizona Equine Medical & Surgical Centre — 1685 S Gilbert Rd, Gilbert, AZ 85295
- GAYLE S. LEITH, DVM — 1685 S Gilbert Rd, Gilbert, AZ 85296
- Gilbert Veterinary Hospital — 1655 S Gilbert Rd, Gilbert, AZ 85295
- Gilbert Veterinary Hospital: Dudley Amanda DVM — 1655 S Gilbert Rd, Gilbert, AZ 85295
- Watson Lee DVM — 1655 S Gilbert Rd, Gilbert, AZ 85295
Frequently Asked Questions
What type of property is this?
Medical Office Space - Efficient office condo suite includes a private restroom, controlled entry, and two fenced garages with extra attached storage.
Where is this medical office space located?
The property is located at 633 E Ray Rd Ste 104 Gilbert, AZ.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: 1,517 SF office condo suite with a private restroom and perimeter windows for natural light; Secure, controlled‑access entry plus a dedicated reception area for client‑facing convenience; Private suite layout offers flexible interior configuration options
