1660 Higley Rd, Gilbert, AZ 85234-1614
- Strip malls
- 7,560 SF
- 1.07 lot acres
Current Use by Public Records
- Woolf Eye Care Center / Physician
- Domains Priced Right / Physician
- Low Vision Of Arizona / Physician
- MAGIC SMOKE VAPE CBD KRATOM ( GILBERT ) / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice
- Banner Urgent Care / Medical Clinic
Property Details for 1660 Higley Rd
- Year built
- 2007
- Construction
- STEEL FRAME
- Lot size
- 1.07 lot acres
- Zone code
- R-3
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 140-69-009A
- APU
- 14069009A
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 24, 2024 | $4,606,000 | Evanson Properties LLC | Mcg Developments LLC | Special Warranty Deed | $1.5M · Global FCU |
| Dec 23, 2024 | — | Evanson Properties LLC | Margareta Julia Freitag | Quitclaim Deed · related | — |
| Sep 13, 2018 | — | Town Of Gilbert | Mcg Dev LLC | Warranty Deed · related | — |
| Dec 26, 2017 | $2,907,425 | Mcg Developments LLC | Higley Marketplace LLC | Special Warranty Deed | $22M · Western Alliance Bank |
| Nov 22, 2017 | — | Higley Marketplace LLC | — | Deed · related | $500k · Mcg Devs LLC |
| Jul 20, 2017 | — | Higley Marketplace LLC | — | Deed · related | $2.5M · Robert J Glovitz |
| Aug 9, 2016 | — | Higley Marketplace LLC | — | Deed · related | $1.7M · Western Alliance Bank |
| Mar 30, 2016 | $2,150,000 | Higley Marketplace LLC | Higley-sterling Props LLC | Warranty Deed | — |
| Aug 17, 2012 | $1,925,000 | Higley Sterling Properties LLC | Higley Crossing Lot 2 LLC | Special Warranty Deed | $1.3M · Wells Fargo Bank NA |
| — | — | Higley Crossing Lot 2 LLC | — | Loan Modification · related | $38k · Home Nat'l Bk |
| — | — | Higley Marketplace LLC | — | Deed Of Trust · related | $2.5M · Robert J Glovitz |
| — | — | Higley Marketplace LLC | — | Deed Of Trust · related | $500k · Mcg Devs LLC |
| — | — | Higley Marketplace LLC | — | Deed Of Trust · related | $500k · Steven Gorder |
Description
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.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,985,000
- AI Estimate
- $2,985,000
Market price range: $1.68M - $4.25MMarket price range: $1.68M - $4.25M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $2,750,000 Current use
- COMMERCIAL (GENERAL)
- $6,065,000 Change: +121% Conversion: Easy
- RESTAURANT
- $4,150,000 Change: +51% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $3,355,000 Change: +22% Conversion: Difficult
- RETAIL STORES
- $2,775,000 Change: +1% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Gilbert
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.723
- Latitude
- 33.3805
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
