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    15312 Melrose St Gilbert, AZ 85297

    For Sale
    Contact for pricing

    2.5-Acre Hotel/Assisted Living PAD

    Property size:
    60,735 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 2.5-acre site in Gilbert, Arizona, offers a prime opportunity for a 4-story hotel or assisted living development. The property boasts 60,735 square feet and is zoned Business Park (BP), ensuring a streamlined development process. Utilities are conveniently located at the lot line, minimizing infrastructure costs. Situated just one block south of the Loop 202 San Tan Freeway, this location provides unparalleled accessibility and visibility. The area is known for its thriving healthcare sector, with numerous medical facilities nearby, including Mercy Gilbert Medical Center and others. Enjoy scenic mountain views and a location within a well-established, high-growth community. The site is ready for immediate development, offering flexible delivery options to suit your project timeline. This is a rare opportunity to build a high-impact development in a highly desirable location. The property includes 122 keys, making it an ideal investment for a large-scale hospitality project. Contact us today to learn more about this exceptional development opportunity. The property is improved with utilities to the lot line.

    Property Features for 15312 Melrose St

    General Information

    Property type
    Hotels
    Square Feet
    60,735 SF
    Lot Size
    108,900 SF

    HighLights

    • Two 2‑story medical office buildings totaling 40,000 square feet (two 20,000 SF buildings).
    • One 4‑story hotel/assisted living development site with 122 rooms and 60,735 square feet.
    • Business Park zoning; improved lots with utilities to the lot line; pricing available upon request.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Restaurant Law Firm Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.75246088545
    Latitude
    33.281316552909

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    FAQs

    What type of property is this?
    Hotel - 2.5-Acre Hotel/Assisted Living PAD
    Where is this hotel located?
    The property is located at 15312 Melrose St Gilbert, AZ.
    What are key features of this property?
    This property features: Two 2-story medical office buildings totaling 40,000 square feet (two 20,000 SF buildings).; One 4-story hotel/assisted living development site with 122 rooms and 60,735 square feet.; Business Park zoning; improved lots with utilities to the lot line; pricing available upon request.
    Request Owner's contact information
    15312 Melrose St Gilbert, AZ 85297
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    Gilbert, AZ 85297
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15312 Melrose St Gilbert, AZ 85297
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