1660 Higley Rd Gilbert, AZ 85234-1614

This exceptional 7,500 square foot retail center in Gilbert, Arizona, presents a compelling investment opportunity. Boasting a 6.00% cap rate and 100% occupancy, the property generates a substantial net operating income (NOI) of $284,574. The center is strategically located on Higley Road, a high-traffic area with over 54,000 vehicles daily, and benefits from its shadow-anchoring by Sprouts Farmers Market. Approximately 87% of the gross leasable area (GLA) is occupied by Banner Urgent Care and Woolf Eye Care, providing stability and income growth through rent increases built into tenant leases. The property features 52 parking spaces and sits on a 1.07-acre lot (APN: 140-69-009A). Its prime location is further enhanced by proximity to major retailers such as Safeway, Fry's, McDonald's, Chick-fil-A, and Starbucks, ensuring high visibility and foot traffic. Significant future growth potential is fueled by the planned expansion of Banner Health directly north, a new Hilton Garden Inn, and the addition of 261 multifamily units (Higley Apartments). The property's location across from the 286-bed Banner Gateway Medical Center (1,990 employees) and its proximity to the US 60 freeway (over 249,000 vehicles daily) further solidify its strong investment potential. The average household income within a one-mile radius exceeds $116,000, indicating a robust consumer base. This is a rare opportunity to acquire a high-performing retail asset in a rapidly growing market. The asking price is $4,743,000.