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    Property profile & analytics

    1356 Gilbert Rd Mesa, AZ 85204

    • Strip malls
    • 20,370 SF
    • 0.75 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1728811
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CosmoProf / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Destin Deon Whipple / Physician
    • Mesa Frozen Yogurt / Cafe & Coffee Shop / Take-out & Catering
    • Dr. James W. Reed, OD / Physician
    • Whipple J Deon OD / Physician

    Property Details for 1356 Gilbert Rd

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    0.75 lot acres
    Property size
    20,370 SF
    Zone code
    LC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    139-08-450
    APU
    13908450

    Description

    This exceptional retail investment opportunity is located in the thriving Mesa, Arizona market at 1356 S Gilbert Rd, zip code 85204. The property, known as Mesa South Center, is a well-maintained strip center boasting a total of 134,253 square feet situated on a substantial 754,769 square foot lot in Maricopa County. Currently, there are five available spaces ranging in size from a minimum of 1,000 square feet to a maximum of 4,850 square feet, providing flexibility for a variety of retail tenants. The property's prime location offers excellent visibility and accessibility, making it an ideal choice for businesses seeking high foot traffic and strong brand exposure. Its strategic placement off Gilbert Road ensures convenient access for customers and employees alike. The multiple tenancy structure presents a diversified income stream, enhancing the overall investment value. This property represents a compelling opportunity for investors seeking a strong return in a dynamic retail market. The property's size and location make it a highly desirable asset for both established businesses and new ventures. Detailed financial information is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,744,000
      Market price range: $2.71M - $13.4M
      AI Estimate
      $2,709,000
      Market price range: $2.71M - $12.5M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.789
    Latitude
    33.3901
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,702
    $0.00
    $0.00
    $299,438
    -
    $553,000
    $1,261,777
    $1,814,777

    Comparable in this City

    • Value Estimation
      $6,745,000
      39,145 SF

      1235 Gilbert Rd

      SHOPPING CENTER, STRIP CENTER • 39,145 SF
      1235 Gilbert Rd, Mesa, AZ 85204-6005
      View Details
    • Value Estimation
      $3,095,000
      15,000 SF

      437 Gilbert Rd

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      437 Gilbert Rd, Mesa, AZ 85204-2861
      View Details
    • Value Estimation by Request
      3,744 SF

      2110 Baseline Rd

      SHOPPING CENTER, STRIP CENTER • 3,744 SF
      2110 Baseline Rd, Mesa, AZ 85204-6970
      View Details
    • Value Estimation
      $1,495,000
      8,046 SF

      3454 Southern Ave

      SHOPPING CENTER, STRIP CENTER • 8,046 SF
      3454 Southern Ave, Mesa, AZ 85204-5680
      View Details
    • Value Estimation
      $1,400,000
      8,112 SF

      27 Stapley Dr

      SHOPPING CENTER, STRIP CENTER • 8,112 SF
      27 Stapley Dr, Mesa, AZ 85204-1127
      View Details
    • Value Estimation
      $9,590,000
      15,082 SF

      1641 Stapley Dr

      SHOPPING CENTER, STRIP CENTER • 15,082 SF
      1641 Stapley Dr, Mesa, AZ 85204-6646
      View Details

    Similar Nearby for Sale

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      Mesa Retail Space Available

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      Freestanding Drive-Thru Restaurant Opportunity

      Freestanding drive-thru restaurant on a 0.80 acre lot.
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    Similar Nearby for Lease

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      Retail Space in Mesa, Arizona

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      Mesa Retail Space For Rent

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      Retail Space in Mesa, Arizona

      Retail space available in high-traffic, open-air lifestyle center.
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      Mesa Retail Center - High Visibility

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      134,253 SF

      Mesa Retail Center Investment Opportunity

      High-traffic retail center, 5 spaces available
      1356 Gilbert Rd, Mesa, AZ 85204
      View Details
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    1356 Gilbert Rd
    Mesa, AZ 85204
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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.

    More about this property
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