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Property profile & analytics
FOR LEASE
Strip malls

1534 E Ray Rd Gilbert, AZ 85296

24,208 SF 2.95 ac lot Built 2002
Individually Owned 4-yr Hold ~ Est. High Equity
Property ID
US07-0104975
Property summary
AI-generated overview

Western Skies Village Center, located at 1534 E Ray Rd, Gilbert, AZ 85296 (NWC Ray Road & Val Vista Drive), offers exceptional retail and restaurant opportunities in the thriving Gilbert Submarket of Maricopa County. This Class B shopping center, built in 2002, boasts a total of 24,128 square feet. Two spaces are currently available, ideal for a variety of uses. The spaces are divisible, with a minimum leasable area of 3,124 square feet and a maximum contiguous space of 3,403 square feet. The property's versatile design accommodates various business types, including storefront retail, shopping center tenants, religious/church organizations, and restaurants. The location benefits from high visibility and accessibility, situated in an affluent Gilbert neighborhood. This presents a unique chance to establish or expand a business within a well-established and successful commercial center. The property's multiple tenancy structure provides a vibrant and diverse environment for businesses. Interested parties should inquire about the specific details and availability of the two spaces. The property is conveniently located in the Gilbert Submarket of Maricopa County, Arizona.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2002
Construction STEEL FRAME
Total area 24,208 SF
Lot 2.95 ac (128,287 SF)
Zoning code NC
APN 304-25-915
UPID US07-0104975
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Tyler Castleton Physician
  • Craig Blankinship Physician
  • Dr. Brett Quackenbush Dental Office
  • Dr. Morris Oswald Dental Office
  • Quantum Physiques Personal Training and Nutrition Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$5.07M
Comparable Approach Comparable
$5.75M
Blend (final) Blend
$5.75M
Owner & transaction history
Jack Metallinos · 4 yrs held
Jack Metallinos
since 2021
Last sale
$6.1M
7 recorded transactions
2021
$6.1M
2015
$4.2M
2011
$3.5M
2007
$7.7M
2005
Price N/A
2004
$6.7M
1969
Price N/A
Zoning & alternative use
NC · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $8.9M +0.9%
Try Rey
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More about this property
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