Retail Project in Gilbert,
For Sale
Contact for pricing
868 N Gilbert Rd, Gilbert, AZ 85234
Fully leased retail project near Downtown Gilbert with quality tenants.
Property Size45,019 SF
Price / SF$250.78
Days on Market204
Property Features for 868 N Gilbert Rd
General Information
Standard status
Active
Size
45,019 SF
Property subtype
Retail
Zoning
C-G
Occupancy
100%
Net Operating Income
$818,619
Building Details
Year Built
2001
Stories
1
Listing Agency:
LevRose Commercial Real Estate
Listed By:
Michael Waxman · License #AZ BR540293000
(480) 216-7363
Source:
Crexi
Added: Mar 17
Changed: Oct 6
Last Checked: Oct 5 at 3:14PM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail project, constructed in 2001 and continually updated with new HVAC units and roof, totals approximately 45,019 square feet. The property is 100% leased to recreation-focused, high-quality tenants. It is located approximately one-half mile north of Downtown Gilbert, which features over 30 restaurants. Co-tenants in the center include Walgreens and Chase Bank. The property is situated in a dense daytime employment area with both office and retail businesses.
Key Highlights
- 100% leased, providing immediate income.
- High‑quality, recreation‑focused tenants.
- Located near Downtown Gilbert with over 30 restaurants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$496,713
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,934,260
$9.9M
Cap Rate 7%
$7,095,900
$7.1M
Cap Rate 9%
$5,519,033
$5.5M
Market Conditions
NOI Build-Up for 45,019 SF
Gross rent
$767.1K $17.04/SF
− Vacancy
−$57.5K −$1.28/SF
EGI
$709.6K $15.76/SF
− OpEx
−$212.9K −$4.73/SF
NOI
$496.7K $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 Rate 5%
$9,934,260
Cap Rate 7%
$7,095,900
Cap Rate 9%
$5,519,033
Alternative Uses
Best Use
Retail
$7.10M
$6.21M – $8.28M
NOI $496,713 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.82M
$10.34M – $13.79M
NOI $827,387 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
337k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Shops & Services 35%
Dining 15%
Groceries 11%
Sam's Club
Superstores
128,942 visits/mo
0.5 miles
Sam's Club Gas Station
Shops & Services
58,013 visits/mo
0.4 miles
Smart & Final
Groceries
37,228 visits/mo
0.2 miles
Starbucks
Dining
15,184 visits/mo
0.2 miles
SONIC Drive In
Dining
13,910 visits/mo
0.1 miles
Demographics for 85234, AZ
51,051
Population
17,488
Households
2.9
Avg Household Size
36
Median Age
46%
College-Educated
96%
High-School Grad
11.9 sq mi
ZIP Area
4,290
Density / Sq Mi
$118,012
Median Household Income
$54,080
Median Earnings
$1,971
Median Rent
$488,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail project near Downtown Gilbert with quality tenants.
Where is this shopping center located?
The property is located at 868 N Gilbert Rd Gilbert, AZ.
What is the asking price?
The asking price for this property is $11,290,000.
What are key features of this property?
This property features: 100% leased, providing immediate income.; High‑quality, recreation‑focused tenants.; Located near Downtown Gilbert with over 30 restaurants.
