Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2796 Market St Gilbert, AZ 85295
    Property profile & analytics

    2796 Market St, Gilbert, AZ 85295

    View on Map
    • Retail properties & Spaces
    • 285,581 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SanTan Village Marketplace / Shopping Center & Mall
    • Concrete Elementz / General Contractor

    Property Details for 2796 Market St

    Year built
    2005
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional retail opportunity is located within the vibrant SanTan Village Marketplace in Gilbert, Arizona. The property, built in 2005, boasts a total of 285,581 square feet and sits on a substantial 24.9-acre lot. Multiple spaces are available, with a minimum divisible space of 1,260 square feet and a maximum contiguous space of 7,795 square feet. Currently, 9,055 square feet are vacant, offering flexibility for various retail concepts. The center enjoys a strong anchor tenant lineup including Jo-Ann Fabrics, Marshalls, DSW, Old Navy, Ulta, Painted Tree, and Kirklands, ensuring high foot traffic and visibility. This location benefits from a densely populated trade area, with over 117,000 residents residing within a three-mile radius, exhibiting excellent household incomes averaging nearly $138,000. The property's address is 2796 S Market St, Gilbert, AZ 85295, in Maricopa County. This is an ideal location for businesses seeking high visibility and access to a thriving consumer base. The property is classified as Retail, with Storefront and Restaurant options available, suitable for anchor tenants or smaller businesses. This presents a unique chance to establish or expand your business in a premier Gilbert location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.744
    Latitude
    33.3009

    Comparable in this City

    • Value Estimation by Request
      9,987 SF

      1975 Williams Field Rd

      Restaurants
      1975 Williams Field Rd, Gilbert, AZ 85295
      View Details
    • Value Estimation by Request
      24,624 SF

      1663 Ray Rd

      Individual retail properties
      1663 Ray Rd, Gilbert, AZ 85295
      View Details
    • Value Estimation by Request
      3,800 SF

      2590 Market St

      Restaurants
      2590 Market St, Gilbert, AZ 85295
      View Details
    • Value Estimation by Request
      7,800 SF

      2650 Market St

      Restaurants
      2650 Market St, Gilbert, AZ 85295
      View Details
    • Value Estimation by Request
      7,000 SF

      Nec Val Vis Dr & Pecos Rd

      Neighborhood centers
      0 Nec Val Vis Dr & Pecos Rd, Gilbert, AZ 85295
      View Details
    • Value Estimation by Request

      San Tan Village Pkwy

      Individual retail properties
      0 San Tan Village Pkwy, Gilbert, AZ 85295
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,600 SF

      Retail Space in SanTan Village

      Retail space available within the SanTan Village master plan.
      1690 S San Tan Village Pkwy, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Retail Property in Gilbert, Arizona

      Retail property with significant square footage in Gilbert, Arizona.
      2870 S Market St, Gilbert, AZ 85295
      View Details
    • $100,000
      1,351 SF

      Established Ice Cream Shop Opportunity

      Turnkey ice cream shop with modern build-out and equipment.
      Power Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      1,800 SF

      Established Asian Cuisine Restaurant

      Thriving restaurant with fully equipped kitchen in Gilbert, Arizona.
      2475 S Val Vista Dr, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Santan Village Marketplace Retail Space

      Retail space available in Santan Village Marketplace, Gilbert, Arizona.
      2796 S Market St, Gilbert, AZ 85295
      View Details
    • $1,750,000
      Pending

      Gilbert Land Ready For Building

      Corner lot in Gilbert, builder-ready, rare opportunity.
      16205 E Fairview St, Gilbert, AZ 85295
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,502 SF

      Restaurant and Bar Space Available

      Restaurant and bar space for rent with full kitchen.
      2570-2582 S Val Vista Dr, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      2,040 SF

      Retail Space Near Loop 202

      Retail space with high-income demographics and strong daytime employment.
      3115 S Val Vista Dr, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Dental Office in Gilbert Trade

      Fully leased dental office with high visibility in Gilbert, Arizona.
      2540 South San Tan Village Pkwy, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Retail Space Anchored by Fry's

      Retail space with high income demographics and ample parking.
      183-195 E Williams Field Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      27,200 SF

      Gilbert Retail Outparcel Opportunity

      High-traffic retail pads, 6,000-8,000 SF available
      1735 San Tan Village Pkwy, Gilbert, AZ 85295
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2796 Market St
    Gilbert, AZ 85295
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2796 Market St, Gilbert, AZ, 85295
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!